Stevens Capital Management LP Makes New Investment in Prudential Financial, Inc. (NYSE:PRU)

Stevens Capital Management LP acquired a new stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,693 shares of the financial services provider's stock, valued at approximately $319,000.

Several other large investors have also recently made changes to their positions in the business. Guardian Partners Inc. purchased a new stake in shares of Prudential Financial during the 4th quarter worth approximately $252,000. KLP Kapitalforvaltning AS bought a new position in Prudential Financial during the fourth quarter valued at $14,348,000. Knights of Columbus Asset Advisors LLC raised its stake in shares of Prudential Financial by 2.7% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 62,313 shares of the financial services provider's stock valued at $7,386,000 after buying an additional 1,618 shares during the period. AXQ Capital LP purchased a new position in shares of Prudential Financial during the 4th quarter valued at $255,000. Finally, Sei Investments Co. grew its stake in shares of Prudential Financial by 12.6% during the 4th quarter. Sei Investments Co. now owns 82,464 shares of the financial services provider's stock worth $9,774,000 after acquiring an additional 9,196 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Price Performance

Shares of PRU stock traded down $4.48 during trading on Friday, hitting $109.94. The company had a trading volume of 2,326,712 shares, compared to its average volume of 1,538,417. The stock's 50-day moving average is $113.09 and its two-hundred day moving average is $118.92. The stock has a market capitalization of $39.36 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28. 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 52 week low of $104.45 and a 52 week high of $130.55.

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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%. As a group, analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $5.40 annualized dividend and a yield of 4.91%. This is a positive change from Prudential Financial's previous quarterly dividend of $1.30. Prudential Financial's payout ratio is 72.29%.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of the company's stock in a transaction dated 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 represents a 18.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the acquisition, the insider now owns 87,047 shares of the company's stock, valued at approximately $2,499,989.84. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.31% of the company's stock.

Analyst Ratings Changes

PRU has been the subject of a number of research reports. BMO Capital Markets began coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They set an "underperform" rating and a $101.00 target price for the company. Keefe, Bruyette & Woods cut their price objective on shares of Prudential Financial from $129.00 to $125.00 and set a "market perform" rating for the company in a report on Wednesday, February 12th. Jefferies Financial Group boosted their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Wells Fargo & Company raised their price target on Prudential Financial from $113.00 to $118.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 19th. Finally, Morgan Stanley decreased their price objective on Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating on the stock in a research note on Friday, February 28th. 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average 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.