Xponance Inc. Raises Stake in Prudential Financial, Inc. (NYSE:PRU)

Xponance Inc. grew its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 7.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,424 shares of the financial services provider's stock after buying an additional 3,589 shares during the period. Xponance Inc.'s holdings in Prudential Financial were worth $6,451,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Grove Bank & Trust increased its stake in 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 acquiring an additional 87 shares during the last quarter. Centricity Wealth Management LLC bought a new position in shares of Prudential Financial during the 4th quarter valued at approximately $29,000. CGC Financial Services LLC lifted 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 buying an additional 124 shares during the last quarter. Wingate Wealth Advisors Inc. purchased a new position in Prudential Financial during the fourth quarter worth $33,000. Finally, Quarry LP raised 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 acquiring an additional 222 shares during the period. 56.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Jefferies Financial Group upped their price target 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. Keefe, Bruyette & Woods cut their price objective on Prudential Financial from $129.00 to $125.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 12th. BMO Capital Markets started coverage on Prudential Financial in a research report on Thursday, January 23rd. They set an "underperform" rating and a $101.00 target price for the company. Barclays upped their price target on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 5th. Finally, TD Cowen boosted their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the company a "hold" rating in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $126.15.

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Prudential Financial Stock Up 2.8 %

Prudential Financial stock traded up $3.08 during mid-day trading on Monday, reaching $113.35. 1,744,976 shares of the company were exchanged, compared to its average volume of 1,433,769. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market cap of $40.58 billion, a P/E ratio of 15.17, a PEG ratio of 0.98 and a beta of 1.28. The business has a fifty day moving average of $113.57 and a 200 day moving average of $119.03. Prudential Financial, Inc. has a 12-month low of $104.45 and a 12-month high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings data 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 net margin of 4.01% and a return on equity of 15.86%. Research analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 4.76%. This is an increase from Prudential Financial's previous quarterly dividend of $1.30. The ex-dividend date was Tuesday, February 18th. Prudential Financial's dividend payout ratio (DPR) is 72.29%.

Insiders Place Their Bets

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

Prudential Financial 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.