Cantor Fitzgerald Investment Advisors L.P. Sells 2,839 Shares of Prudential Financial, Inc. (NYSE:PRU)

Cantor Fitzgerald Investment Advisors L.P. reduced its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 2.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 123,978 shares of the financial services provider's stock after selling 2,839 shares during the period. Cantor Fitzgerald Investment Advisors L.P.'s holdings in Prudential Financial were worth $14,695,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Grove Bank & Trust raised its holdings in 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 period. Ashton Thomas Securities LLC acquired a new stake in shares of Prudential Financial in the third quarter valued at approximately $31,000. CGC Financial Services LLC raised its holdings 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 purchasing an additional 124 shares during the last quarter. Quarry LP raised its holdings in shares of Prudential Financial by 376.3% in the third quarter. Quarry LP now owns 281 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 222 shares during the last quarter. Finally, Private Wealth Management Group LLC raised its holdings in shares of Prudential Financial by 119.0% in the fourth quarter. Private Wealth Management Group LLC now owns 322 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 175 shares during the last quarter. 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 a number of recent research reports. Keefe, Bruyette & Woods lowered their price objective on shares of Prudential Financial from $129.00 to $125.00 and set a "market perform" rating on the stock in a report on Wednesday. Wells Fargo & Company lowered their target price on shares of Prudential Financial from $117.00 to $115.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 14th. TD Cowen boosted their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a "hold" rating in a report on Wednesday, November 27th. Barclays boosted their target price on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 5th. Finally, Evercore ISI upgraded shares of Prudential Financial from an "underperform" rating to an "inline" rating and boosted their target price for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Prudential Financial presently has an average rating of "Hold" and a consensus price target of $125.46.

Insider Activity at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the company's stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the purchase, the insider now directly owns 4,780,293 shares in the company, valued at $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is owned by insiders.

Prudential Financial Stock Performance

Shares of Prudential Financial stock traded down $0.82 during trading on Wednesday, reaching $110.82. The company's stock had a trading volume of 2,105,768 shares, compared to its average volume of 1,758,545. The business's 50-day moving average price is $118.78 and its 200-day moving average price is $120.07. The firm has a market cap of $39.45 billion, a PE ratio of 14.84, a P/E/G ratio of 1.00 and a beta of 1.31. Prudential Financial, Inc. has a 52 week low of $104.02 and a 52 week high of $130.55. The company has a quick ratio of 0.14, a current ratio of 0.16 and a debt-to-equity ratio of 0.68.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its earnings results 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%. Equities analysts forecast that Prudential Financial, Inc. will post 14.38 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date is Tuesday, February 18th. This is an increase from Prudential Financial's previous quarterly dividend of $1.30. Prudential Financial's payout ratio is 69.61%.

Prudential Financial 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.