Canada Pension Plan Investment Board Has $19.48 Million Position in Prudential Financial, Inc. (NYSE:PRU)

Canada Pension Plan Investment Board raised its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 5.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 164,304 shares of the financial services provider's stock after acquiring an additional 8,900 shares during the quarter. Canada Pension Plan Investment Board's holdings in Prudential Financial were worth $19,475,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Savant Capital LLC lifted its holdings in Prudential Financial by 0.6% during the fourth quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider's stock valued at $1,705,000 after purchasing an additional 83 shares in the last quarter. Grove Bank & Trust boosted its stake in Prudential Financial by 65.9% during the fourth 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 last quarter. HBK Sorce Advisory LLC increased its position in Prudential Financial by 1.0% during the fourth quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider's stock worth $1,116,000 after purchasing an additional 91 shares during the last quarter. Asset Dedication LLC increased its holdings in shares of Prudential Financial by 28.4% during the 4th quarter. Asset Dedication LLC now owns 420 shares of the financial services provider's stock worth $50,000 after buying an additional 93 shares during the last quarter. Finally, Altman Advisors Inc. lifted its stake in shares of Prudential Financial by 0.6% in the 4th 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 owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PRU shares. BMO Capital Markets initiated coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 price objective for the company. Wells Fargo & Company reduced their price objective on Prudential Financial from $118.00 to $108.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Keefe, Bruyette & Woods cut their price objective on Prudential Financial from $125.00 to $120.00 and set a "market perform" rating for the company in a research report on Wednesday, April 9th. Barclays decreased their price objective on Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. Finally, UBS Group reduced their target price on Prudential Financial from $130.00 to $122.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Prudential Financial presently has an average rating of "Hold" and an average target price of $121.85.

Prudential Financial Stock Performance

Shares of PRU traded up $2.45 during midday trading on Thursday, hitting $104.04. 1,678,040 shares of the stock traded hands, compared to its average volume of 1,604,318. 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 business's 50 day moving average price is $106.97 and its two-hundred day moving average price is $116.46. The firm has a market capitalization of $36.87 billion, a PE ratio of 13.93, 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 earnings results on Tuesday, February 4th. The financial services provider reported $2.96 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%. Equities research analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The firm 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 annualized dividend and a dividend yield of 5.19%. Prudential Financial's dividend payout ratio (DPR) is 72.29%.

Insider Buying and Selling

In other news, EVP Andrew F. Sullivan sold 6,000 shares of Prudential Financial stock in a transaction dated 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 directly owns 27,072 shares in the company, valued at $2,869,090.56. The trade was a 18.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The stock was purchased at an average price of $28.52 per share, for a total transaction of $1,500,009.40. Following the acquisition, the insider now directly owns 139,987 shares of the company's stock, valued at $3,992,429.24. The trade was a 60.18 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.25% of the company's stock.

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.