Convergence Investment Partners LLC Raises Holdings in Prudential Financial, Inc. (NYSE:PRU)

Convergence Investment Partners LLC grew its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 31.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,175 shares of the financial services provider's stock after purchasing an additional 3,396 shares during the period. Convergence Investment Partners LLC's holdings in Prudential Financial were worth $1,680,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Savant Capital LLC lifted its holdings 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 valued at $1,705,000 after buying an additional 83 shares during the last quarter. Grove Bank & Trust boosted its stake in Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 87 shares during the period. Avidian Wealth Enterprises LLC grew its stake in shares of Prudential Financial by 1.2% in the third quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider's stock worth $891,000 after acquiring an additional 89 shares during the last quarter. Asset Dedication LLC raised its position 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 valued at $50,000 after buying an additional 93 shares during the last quarter. Finally, RNC Capital Management LLC grew its holdings in shares of Prudential Financial by 3.3% during the 4th quarter. RNC Capital Management LLC now owns 2,990 shares of the financial services provider's stock worth $354,000 after purchasing an additional 95 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Stock Performance

Prudential Financial stock traded down $1.68 during mid-day trading on Friday, reaching $109.45. The company's stock had a trading volume of 1,575,421 shares, compared to its average volume of 1,697,518. The company has a market capitalization of $39.18 billion, a P/E ratio of 14.65, a PEG ratio of 0.99 and a beta of 1.31. Prudential Financial, Inc. has a 12-month low of $104.44 and a 12-month high of $130.55. 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 firm's fifty day moving average price is $117.10 and its two-hundred day moving average price is $119.59.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly 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%. Sell-side analysts predict that Prudential Financial, Inc. will post 14.34 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be issued a dividend of $1.35 per share. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date is Tuesday, February 18th. Prudential Financial's dividend payout ratio is currently 72.29%.

Analyst Ratings Changes

PRU has been the topic of several recent analyst reports. Evercore ISI upgraded shares of Prudential Financial from an "underperform" rating to an "inline" rating and boosted their target price for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. Barclays increased their target price on Prudential Financial from $128.00 to $134.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. TD Cowen upped their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the company a "hold" rating in a research report on Wednesday, November 27th. 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 target on the stock. Finally, Jefferies Financial Group increased their price objective on Prudential Financial from $149.00 to $152.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Prudential Financial presently has an average rating of "Hold" and a consensus target price of $125.69.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of Prudential Financial stock in a transaction on Monday, November 25th. The stock was acquired at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the purchase, the insider now 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.31% of the stock is owned by 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.