Sciencast Management LP Takes $287,000 Position in Prudential Financial, Inc. (NYSE:PRU)

Sciencast Management LP purchased a new stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,424 shares of the financial services provider's stock, valued at approximately $287,000.

A number of other institutional investors also recently modified their holdings of PRU. Grove Bank & Trust grew its stake in shares of 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. Centricity Wealth Management LLC bought a new stake in Prudential Financial during the 4th quarter worth $29,000. CGC Financial Services LLC boosted its stake in shares of Prudential Financial by 82.1% during the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 124 shares in the last quarter. Wingate Wealth Advisors Inc. bought a new stake in shares of Prudential Financial during the fourth quarter worth about $33,000. Finally, Quarry LP increased its stake in shares of Prudential Financial by 376.3% in the third quarter. Quarry LP now owns 281 shares of the financial services provider's stock valued at $34,000 after buying an additional 222 shares during the period. Institutional investors and hedge funds own 56.83% of the company's stock.

Prudential Financial Stock Down 0.9 %

PRU traded down $1.09 during midday trading on Thursday, hitting $114.50. The company had a trading volume of 1,716,710 shares, compared to its average volume of 1,440,850. The stock's 50 day moving average price is $113.35 and its 200 day moving average price is $118.98. Prudential Financial, Inc. has a 52 week low of $104.45 and a 52 week high of $130.55. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $40.99 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 0.98 and a beta of 1.28.

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Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 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%. On average, research analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were given a $1.35 dividend. 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 4.72%. The ex-dividend date of this dividend was Tuesday, February 18th. Prudential Financial's dividend payout ratio is presently 72.29%.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the stock in a transaction on Wednesday, March 12th. The shares were acquired at an average price of $28.72 per share, with a total value of $2,499,989.84. Following the completion of the transaction, the insider now owns 87,047 shares in the company, valued at approximately $2,499,989.84. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of the firm'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 sale, the executive vice president now owns 27,072 shares of the company's stock, valued at approximately $2,869,090.56. The trade was a 18.14 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PRU. Wells Fargo & Company boosted their target price on shares of Prudential Financial from $113.00 to $118.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 19th. BMO Capital Markets started 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 on the stock. Morgan Stanley lowered their target price on Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. TD Cowen increased their price target on Prudential Financial from $130.00 to $133.00 and gave the company a "hold" rating in a research note on Wednesday, November 27th. Finally, Barclays upped their target price on Prudential Financial from $128.00 to $134.00 and gave the company an "equal weight" rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $126.15.

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.