Tower Research Capital LLC TRC Has $2.86 Million Position in Prudential Financial, Inc. (NYSE:PRU)

Tower Research Capital LLC TRC grew its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 171.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,166 shares of the financial services provider's stock after purchasing an additional 15,249 shares during the quarter. Tower Research Capital LLC TRC's holdings in Prudential Financial were worth $2,864,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PRU. Transce3nd LLC bought a new position in shares of Prudential Financial during the 4th quarter valued at about $43,000. MML Investors Services LLC lifted its stake in Prudential Financial by 3.5% in the fourth quarter. MML Investors Services LLC now owns 144,500 shares of the financial services provider's stock valued at $17,128,000 after buying an additional 4,829 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of Prudential Financial by 1.5% during the fourth quarter. MetLife Investment Management LLC now owns 94,283 shares of the financial services provider's stock worth $11,175,000 after acquiring an additional 1,415 shares in the last quarter. Natixis raised its holdings in shares of Prudential Financial by 89.1% during the fourth quarter. Natixis now owns 86,153 shares of the financial services provider's stock worth $10,212,000 after acquiring an additional 40,593 shares during the period. Finally, Norinchukin Bank The boosted its stake in Prudential Financial by 10.0% in the 4th quarter. Norinchukin Bank The now owns 16,506 shares of the financial services provider's stock worth $1,956,000 after purchasing an additional 1,504 shares during the period. 56.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on PRU. UBS Group reduced their price objective on Prudential Financial from $130.00 to $122.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Piper Sandler decreased their price target on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Barclays lowered their price target on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. Keefe, Bruyette & Woods lowered their target price on Prudential Financial from $125.00 to $120.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 9th. Finally, BMO Capital Markets began coverage on Prudential Financial in a research report on Thursday, January 23rd. They set an "underperform" rating and a $101.00 price target for the company. 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $121.85.

Prudential Financial Stock Performance

Shares of NYSE:PRU opened at $96.79 on Tuesday. 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 firm has a market cap of $34.30 billion, a PE ratio of 12.96, a PEG ratio of 0.98 and a beta of 1.11. The company's 50 day moving average price is $107.41 and its two-hundred day moving average price is $116.68. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55.

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

Prudential Financial Increases Dividend

The firm also recently announced 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 was Tuesday, February 18th. This is a boost from Prudential Financial's previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 5.58%. Prudential Financial's dividend payout ratio is presently 72.29%.

Insider Buying and Selling at Prudential Financial

In other news, EVP Andrew F. Sullivan sold 6,000 shares of Prudential Financial stock in a transaction dated 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 directly owns 27,072 shares of the company's stock, valued at approximately $2,869,090.56. This trade represents a 18.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average cost of $28.72 per share, with a total value of $2,499,989.84. Following the purchase, the insider now directly owns 87,047 shares of the company's stock, valued at $2,499,989.84. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.25% of the company's stock.

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.

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