Graham Capital Management L.P. Sells 33,253 Shares of Prudential Financial, Inc. (NYSE:PRU)

Graham Capital Management L.P. reduced its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 81.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,630 shares of the financial services provider’s stock after selling 33,253 shares during the period. Graham Capital Management L.P.’s holdings in Prudential Financial were worth $904,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC increased its position in Prudential Financial by 11.0% in the 3rd quarter. Barclays PLC now owns 1,062,776 shares of the financial services provider’s stock valued at $128,700,000 after acquiring an additional 105,089 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Prudential Financial by 2.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 53,909 shares of the financial services provider’s stock worth $6,528,000 after acquiring an additional 1,326 shares during the last quarter. Czech National Bank raised its stake in shares of Prudential Financial by 6.1% in the fourth quarter. Czech National Bank now owns 77,188 shares of the financial services provider’s stock worth $9,149,000 after acquiring an additional 4,464 shares during the last quarter. Fiduciary Alliance LLC raised its stake in shares of Prudential Financial by 270.8% in the fourth quarter. Fiduciary Alliance LLC now owns 7,227 shares of the financial services provider’s stock worth $857,000 after acquiring an additional 5,278 shares during the last quarter. Finally, Brookstone Capital Management raised its stake in shares of Prudential Financial by 4.3% in the fourth quarter. Brookstone Capital Management now owns 89,943 shares of the financial services provider’s stock worth $10,661,000 after acquiring an additional 3,721 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

Insider Transactions at Prudential Financial

In related news, EVP Andrew F. Sullivan sold 6,000 shares of the 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 transaction, the executive vice president now owns 27,072 shares in the company, valued at approximately $2,869,090.56. This 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 this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of Prudential Financial stock in a transaction that occurred on Tuesday, March 25th. The shares were acquired at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the acquisition, the insider now directly owns 139,987 shares of the company’s stock, valued at $3,992,429.24. The trade was a 60.18% increase in their position. The disclosure for this purchase can be found here. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PRU shares. Wells Fargo & Company boosted their target price on shares of Prudential Financial from $108.00 to $113.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 6th. Morgan Stanley lowered their price target on shares of 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. BMO Capital Markets began 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 for the company. Barclays dropped their price target on shares of Prudential Financial from $134.00 to $106.00 and set an “equal weight” rating for the company in a research note on Friday, April 11th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Prudential Financial from $120.00 to $117.00 and set a “market perform” rating for the company in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and a consensus price target of $121.92.

Prudential Financial Stock Up 0.1%

Shares of PRU stock opened at $107.48 on Wednesday. The firm has a fifty day moving average of $104.77 and a 200-day moving average of $114.37. 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 12-month low of $90.38 and a 12-month high of $130.55. The company has a market capitalization of $38.05 billion, a price-to-earnings ratio of 14.39, a P/E/G ratio of 0.98 and a beta of 1.07.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.11. Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. The company had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $14.76 billion. During the same quarter in the prior year, the firm earned $3.12 earnings per share. The firm’s revenue was down 38.2% compared to the same quarter last year. As a group, equities research analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 5.02%. The ex-dividend date is Tuesday, May 20th. Prudential Financial’s dividend payout ratio is 85.58%.

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.