Rhumbline Advisers Sells 24,434 Shares of Prudential Financial, Inc. (NYSE:PRU)

Rhumbline Advisers cut its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 3.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 659,553 shares of the financial services provider's stock after selling 24,434 shares during the period. Rhumbline Advisers owned approximately 0.19% of Prudential Financial worth $78,177,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PRU. Grove Bank & Trust lifted its holdings in shares of 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 buying an additional 87 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Prudential Financial during the third quarter valued at $31,000. CGC Financial Services LLC boosted its position 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 worth $33,000 after purchasing an additional 124 shares during the last quarter. Wingate Wealth Advisors Inc. bought a new stake in shares of Prudential Financial during the 4th quarter valued at about $33,000. Finally, Quarry LP increased its position in shares of Prudential Financial by 376.3% during the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 222 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of Prudential Financial stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the transaction, the insider now owns 4,780,293 shares of the company's stock, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.31% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PRU. 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 report on Thursday, November 14th. Jefferies Financial Group boosted their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Barclays raised their target price on Prudential Financial from $128.00 to $134.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 5th. Keefe, Bruyette & Woods cut their price target on Prudential Financial from $129.00 to $125.00 and set a "market perform" rating for the company in a report on Wednesday, February 12th. Finally, BMO Capital Markets began coverage on Prudential Financial in a research note on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $125.69.

Prudential Financial Price Performance

NYSE PRU traded down $0.58 during trading hours on Thursday, reaching $111.08. The company's stock had a trading volume of 1,550,266 shares, compared to its average volume of 1,701,220. 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, Inc. has a 1 year low of $104.44 and a 1 year high of $130.55. The firm's 50-day moving average price is $117.29 and its 200-day moving average price is $119.65. The company has a market capitalization of $39.77 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 0.99 and a beta of 1.31.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its earnings results 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 return on equity of 15.86% and a net margin of 4.01%. On average, equities research analysts predict that Prudential Financial, Inc. will post 14.34 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.86%. This is a boost from Prudential Financial's previous quarterly dividend of $1.30. The ex-dividend date is Tuesday, February 18th. Prudential Financial's payout ratio is 72.29%.

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.