Lbp Am Sa Has $16.32 Million Stake in Prudential Financial, Inc. (NYSE:PRU)

LBP AM SA raised its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 17.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 137,716 shares of the financial services provider's stock after purchasing an additional 20,396 shares during the period. LBP AM SA's holdings in Prudential Financial were worth $16,323,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Grove Bank & Trust raised its holdings in Prudential Financial by 65.9% in the fourth 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 acquired a new stake in shares of Prudential Financial in the 4th quarter valued at about $29,000. Ashton Thomas Securities LLC acquired a new position in Prudential Financial in the third quarter worth about $31,000. CGC Financial Services LLC increased its holdings in 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 during the last quarter. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Prudential Financial during the fourth quarter valued at approximately $33,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Stock Performance

Prudential Financial stock traded down $0.64 during mid-day trading on Tuesday, hitting $109.65. 1,490,267 shares of the company's stock traded hands, compared to its average volume of 1,428,064. Prudential Financial, Inc. has a one year low of $104.45 and a one year high of $130.55. The company has a market cap of $39.25 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28. The firm has a 50 day moving average price of $114.15 and a 200 day moving average price of $119.32. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68.

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Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings data 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 net margin of 4.01% and a return on equity of 15.86%. On average, equities analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date was Tuesday, February 18th. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. Prudential Financial's dividend payout ratio (DPR) is currently 72.29%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PRU. Morgan Stanley lowered their price target on Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. BMO Capital Markets started coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They set an "underperform" rating and a $101.00 target price for the company. Wells Fargo & Company raised their price target on shares of Prudential Financial from $113.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 19th. Barclays boosted their price objective on shares of Prudential Financial from $128.00 to $134.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. Finally, Jefferies Financial Group raised their target price 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 investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $126.15.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average cost of $28.72 per share, with a total value of $2,499,989.84. Following the completion of the acquisition, the insider now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $635,880.00. Following the completion of the sale, the executive vice president now owns 27,072 shares in the company, valued at $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 owned by corporate insiders.

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.