Fmr LLC Has $154.86 Million Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

FMR LLC reduced its position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 9.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,306,477 shares of the financial services provider's stock after selling 137,811 shares during the period. FMR LLC owned approximately 0.37% of Prudential Financial worth $154,857,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other news, EVP Andrew F. Sullivan sold 6,000 shares of the business'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 value of $635,880.00. Following the transaction, the executive vice president now directly owns 27,072 shares of the company's stock, valued at $2,869,090.56. The trade was a 18.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $28.72 per share, with a total value of $2,499,989.84. Following the transaction, the insider now owns 87,047 shares in the company, valued at approximately $2,499,989.84. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.31% of the company's stock.

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Prudential Financial Stock Performance

Shares of PRU traded up $1.67 during trading hours on Thursday, reaching $100.29. 817,429 shares of the company traded hands, compared to its average volume of 1,596,760. The stock's fifty day moving average is $108.18 and its 200 day moving average is $117.18. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a market cap of $35.55 billion, a P/E ratio of 13.42, a price-to-earnings-growth ratio of 0.98 and a beta of 1.11. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55.

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

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 5.38%. The ex-dividend date was Tuesday, February 18th. This is an increase from Prudential Financial's previous quarterly dividend of $1.30. Prudential Financial's dividend payout ratio (DPR) is 72.29%.

Analysts Set New Price Targets

Several research analysts have weighed in on PRU shares. Morgan Stanley dropped their price objective on shares of Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating on the stock in a research note on Friday, February 28th. UBS Group reduced their price objective on Prudential Financial from $130.00 to $122.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Barclays cut their price objective on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. Wells Fargo & Company dropped their price target on shares of Prudential Financial from $118.00 to $108.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Prudential Financial from $125.00 to $120.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 9th. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, Prudential Financial presently has an average rating of "Hold" and an average price target of $121.85.

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.