MML Investors Services LLC Has $17.13 Million Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

MML Investors Services LLC boosted its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 144,500 shares of the financial services provider's stock after acquiring an additional 4,829 shares during the period. MML Investors Services LLC's holdings in Prudential Financial were worth $17,128,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRU. Savant Capital LLC grew its position in shares of Prudential Financial by 0.6% during the 4th quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider's stock worth $1,705,000 after buying an additional 83 shares during the period. Grove Bank & Trust grew 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 acquiring an additional 87 shares during the period. HBK Sorce Advisory LLC raised its position in shares of Prudential Financial by 1.0% during the 4th quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider's stock valued at $1,116,000 after acquiring an additional 91 shares during the last quarter. Asset Dedication LLC grew its stake in shares of Prudential Financial by 28.4% during the fourth quarter. Asset Dedication LLC now owns 420 shares of the financial services provider's stock worth $50,000 after purchasing an additional 93 shares during the period. Finally, Altman Advisors Inc. increased its holdings in Prudential Financial by 0.6% in the fourth quarter. Altman Advisors Inc. now owns 16,087 shares of the financial services provider's stock valued at $1,907,000 after purchasing an additional 94 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Stock Down 1.1 %

Shares of PRU stock traded down $1.18 during trading on Friday, reaching $102.85. The company's stock had a trading volume of 1,276,662 shares, compared to its average volume of 1,604,727. The company has a market cap of $36.45 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 0.98 and a beta of 1.11. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. The business has a fifty day moving average price of $106.82 and a 200-day moving average price of $116.34. 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 released its 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 return on equity of 15.86% and a net margin of 4.01%. Analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were issued a dividend of $1.35 per share. This is an increase from Prudential Financial's previous quarterly dividend of $1.30. The ex-dividend date was Tuesday, February 18th. This represents a $5.40 annualized dividend and a yield of 5.25%. Prudential Financial's dividend payout ratio (DPR) is currently 72.29%.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the completion of the transaction, the insider now owns 87,047 shares of the company's stock, valued at approximately $2,499,989.84. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of the business's stock in a transaction that occurred on 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 of the company's stock, 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. Company insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. UBS Group decreased their target price 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 lowered 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 initiated coverage on Prudential Financial in a research note on Thursday, January 23rd. They set an "underperform" rating and a $101.00 price objective on the stock. Keefe, Bruyette & Woods reduced their target price on Prudential Financial from $125.00 to $120.00 and set a "market perform" rating on the stock in a report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. lowered their price target on Prudential Financial from $128.00 to $126.00 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 given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Prudential Financial has an average rating of "Hold" and an average target price of $121.85.

About Prudential Financial

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.