Optimize Financial Inc Acquires New Holdings in Prudential Financial, Inc. (NYSE:PRU)

Optimize Financial Inc acquired a new position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,950 shares of the financial services provider's stock, valued at approximately $350,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Grove Bank & Trust boosted its stake in shares of Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock worth $26,000 after buying an additional 87 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Prudential Financial during the 4th quarter worth approximately $29,000. CGC Financial Services LLC grew its stake in shares of Prudential Financial by 82.1% in the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider's stock valued at $33,000 after buying an additional 124 shares in the last quarter. Wingate Wealth Advisors Inc. acquired a new stake in Prudential Financial in the fourth quarter valued at $33,000. Finally, Hopwood Financial Services Inc. bought a new position in shares of Prudential Financial in the 4th quarter valued at about $34,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PRU has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on Prudential Financial from $128.00 to $126.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Barclays cut their target price on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. BMO Capital Markets assumed coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 price target on the stock. Wells Fargo & Company reduced their price objective on Prudential Financial from $118.00 to $108.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Finally, UBS Group dropped their price target on Prudential Financial from $130.00 to $122.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $121.85.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of Prudential Financial stock in a transaction on Wednesday, March 12th. The stock was purchased at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the purchase, the insider now directly owns 87,047 shares of the company's stock, valued at $2,499,989.84. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were 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. The trade was a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Prudential Financial Price Performance

PRU stock traded up $0.77 during trading on Thursday, reaching $99.39. 1,480,033 shares of the company were exchanged, compared to its average volume of 1,599,117. 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 company has a market capitalization of $35.23 billion, a price-to-earnings ratio of 13.31, a P/E/G ratio of 0.98 and a beta of 1.11. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55. The company has a 50-day moving average of $108.18 and a two-hundred day moving average of $117.18.

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

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were given a $1.35 dividend. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 5.43%. The ex-dividend date was Tuesday, February 18th. Prudential Financial's dividend payout ratio is presently 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.