State of Tennessee Department of Treasury Has $18.80 Million Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

State of Tennessee Department of Treasury increased its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 12.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 158,610 shares of the financial services provider's stock after acquiring an additional 17,812 shares during the period. State of Tennessee Department of Treasury's holdings in Prudential Financial were worth $18,800,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Grove Bank & Trust boosted its holdings 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 purchasing an additional 87 shares during the period. Centricity Wealth Management LLC acquired a new stake in shares of Prudential Financial during the 4th quarter valued at $29,000. CGC Financial Services LLC grew its holdings in shares of Prudential Financial by 82.1% during the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 124 shares in the last quarter. Wingate Wealth Advisors Inc. acquired a new position in shares of Prudential Financial in the fourth quarter worth $33,000. Finally, Hopwood Financial Services Inc. acquired a new stake in Prudential Financial during the fourth quarter valued at $34,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of the firm's stock in a transaction on Tuesday, March 25th. The shares were purchased at an average price of $28.52 per share, for a total transaction of $1,500,009.40. Following the completion of the purchase, the insider now directly owns 139,987 shares of the company's stock, valued at approximately $3,992,429.24. This represents a 60.18 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of the business's stock in a transaction 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 sale, the executive vice president now directly owns 27,072 shares in the company, valued at $2,869,090.56. This trade represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Morgan Stanley cut their price target on Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. JPMorgan Chase & Co. cut their price objective on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. BMO Capital Markets started coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They set an "underperform" rating and a $101.00 price target on the stock. UBS Group reduced their price objective on shares of Prudential Financial from $130.00 to $122.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Finally, Barclays lowered their target price on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $121.85.

Prudential Financial Price Performance

NYSE PRU opened at $100.16 on Wednesday. The stock has a 50-day simple moving average of $107.17 and a 200 day simple moving average of $116.56. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55. The stock has a market capitalization of $35.50 billion, a PE ratio of 13.41, a P/E/G ratio of 0.98 and a beta of 1.11. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. Research analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The business 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. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.39%. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. Prudential Financial's dividend payout ratio is currently 72.29%.

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.

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