Tidal Investments LLC Acquires 30,436 Shares of Prudential Financial, Inc. (NYSE:PRU)

Tidal Investments LLC boosted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 160.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,403 shares of the financial services provider’s stock after acquiring an additional 30,436 shares during the quarter. Tidal Investments LLC’s holdings in Prudential Financial were worth $5,856,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Prudential Financial by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 41,850,558 shares of the financial services provider’s stock valued at $4,960,547,000 after acquiring an additional 220,671 shares in the last quarter. Geode Capital Management LLC lifted its position in Prudential Financial by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 8,856,360 shares of the financial services provider’s stock valued at $1,050,635,000 after acquiring an additional 193,681 shares in the last quarter. Northern Trust Corp lifted its position in Prudential Financial by 23.7% in the 4th quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider’s stock valued at $555,513,000 after acquiring an additional 897,916 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Prudential Financial by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,454,278 shares of the financial services provider’s stock valued at $290,906,000 after acquiring an additional 6,938 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Prudential Financial by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,409,521 shares of the financial services provider’s stock valued at $285,601,000 after acquiring an additional 26,210 shares in the last quarter. 56.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PRU has been the subject of a number of research reports. BMO Capital Markets initiated coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They set an “underperform” rating and a $101.00 target price for the company. JPMorgan Chase & Co. decreased their target price on shares of Prudential Financial from $128.00 to $126.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods decreased their target price 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. Morgan Stanley boosted their target price on shares of Prudential Financial from $108.00 to $117.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, Barclays decreased their target price 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. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and a consensus price target of $121.08.

Prudential Financial Trading Down 2.0%

NYSE:PRU opened at $105.82 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a market capitalization of $37.46 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. The business has a fifty day moving average price of $104.77 and a 200-day moving average price of $113.77.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, topping the consensus estimate of $3.18 by $0.11. The firm had revenue of $13.61 billion during the quarter, compared to analyst estimates of $14.76 billion. Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. Prudential Financial’s revenue was down 38.2% on a year-over-year basis. During the same period in the prior year, the business posted $3.12 EPS. Sell-side analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Tuesday, May 20th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $5.40 dividend on an annualized basis and a yield of 5.10%. Prudential Financial’s dividend payout ratio is presently 85.58%.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of the firm’s 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 $2,869,090.56. This trade represents a 18.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were acquired at an average cost of $28.72 per share, for a total transaction of $2,499,989.84. Following the completion of 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.25% 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.