Aquatic Capital Management LLC Purchases New Position in Prudential Financial, Inc. (NYSE:PRU)

Aquatic Capital Management LLC purchased a new stake 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 SEC. The institutional investor purchased 106,502 shares of the financial services provider's stock, valued at approximately $12,624,000.

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

Prudential Financial Stock Up 0.7 %

Shares of Prudential Financial stock traded up $0.76 on Monday, reaching $103.66. The company's stock had a trading volume of 1,021,331 shares, compared to its average volume of 1,606,806. The company has a market capitalization of $36.74 billion, a price-to-earnings ratio of 13.88, a P/E/G ratio of 0.98 and a beta of 1.11. The firm's fifty day simple moving average is $106.49 and its two-hundred day simple moving average is $116.00. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS 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%. Equities analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were given a dividend of $1.35 per share. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. The ex-dividend date was Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.21%. Prudential Financial's dividend payout ratio (DPR) is presently 72.29%.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $28.72 per share, with a total value of $2,499,989.84. Following the acquisition, the insider now owns 87,047 shares in the company, valued at approximately $2,499,989.84. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of the 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 directly owns 27,072 shares of the company's stock, valued at approximately $2,869,090.56. The trade was a 18.14 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PRU. JPMorgan Chase & Co. cut their price objective on Prudential Financial from $128.00 to $126.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Morgan Stanley lowered their target price on Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. Wells Fargo & Company lowered their target price on Prudential Financial from $118.00 to $108.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. Keefe, Bruyette & Woods lowered their target price on Prudential Financial from $125.00 to $120.00 and set a "market perform" rating for the company in a research note on Wednesday, April 9th. Finally, Barclays lowered their target price on 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. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $121.85.

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.