Quantbot Technologies LP Invests $1.82 Million in Prudential Financial, Inc. (NYSE:PRU)

Quantbot Technologies LP acquired a new stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 15,334 shares of the financial services provider's stock, valued at approximately $1,818,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Savant Capital LLC increased its holdings in shares of Prudential Financial by 0.6% in the fourth quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider's stock worth $1,705,000 after purchasing an additional 83 shares during the period. Grove Bank & Trust raised its holdings in shares of Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 87 shares in the last quarter. HBK Sorce Advisory LLC boosted its position in shares of Prudential Financial by 1.0% during the 4th quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider's stock valued at $1,116,000 after acquiring an additional 91 shares during the last quarter. Asset Dedication LLC grew its holdings in shares of Prudential Financial by 28.4% during the fourth quarter. Asset Dedication LLC now owns 420 shares of the financial services provider's stock worth $50,000 after purchasing an additional 93 shares in the last quarter. Finally, RNC Capital Management LLC raised its stake in Prudential Financial by 3.3% in the fourth quarter. RNC Capital Management LLC now owns 2,990 shares of the financial services provider's stock valued at $354,000 after purchasing an additional 95 shares in the last quarter. Institutional investors own 56.83% of the company's stock.

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Insider Activity at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of Prudential Financial stock in a transaction on Tuesday, March 25th. The stock was acquired at an average cost of $28.52 per share, for a total transaction of $1,500,009.40. Following the purchase, the insider now owns 139,987 shares in the company, valued at $3,992,429.24. This trade represents a 60.18 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the transaction, the executive vice president now owns 27,072 shares in the company, valued at approximately $2,869,090.56. This represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PRU shares. Piper Sandler cut their price target on shares of Prudential Financial from $127.00 to $124.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Keefe, Bruyette & Woods reduced their target price on Prudential Financial from $129.00 to $125.00 and set a "market perform" rating on the stock in a research note on Wednesday, February 12th. Wells Fargo & Company upped their price objective on Prudential Financial from $113.00 to $118.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 19th. Barclays upped their target price on Prudential Financial from $128.00 to $134.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 5th. Finally, Jefferies Financial Group boosted their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Prudential Financial presently has an average rating of "Hold" and a consensus price target of $126.15.

Prudential Financial Trading Down 0.9 %

Prudential Financial stock traded down $1.09 during mid-day trading on Thursday, reaching $114.50. 1,716,710 shares of the company traded hands, compared to its average volume of 1,440,850. The firm's 50 day moving average price is $113.35 and its 200 day moving average price is $118.98. Prudential Financial, Inc. has a 52-week low of $104.45 and a 52-week high of $130.55. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a market capitalization of $40.99 billion, a price-to-earnings ratio of 15.33, a P/E/G ratio of 0.98 and a beta of 1.28.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing analysts' consensus estimates of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. On average, analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were given a $1.35 dividend. The ex-dividend date was Tuesday, February 18th. This is an increase from Prudential Financial's previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.72%. Prudential Financial's dividend payout ratio is currently 72.29%.

Prudential Financial Company Profile

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.