Prudential Financial, Inc. (NYSE:PRU) Shares Bought by Gotham Asset Management LLC

Gotham Asset Management LLC grew its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 24.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,463 shares of the financial services provider’s stock after acquiring an additional 10,727 shares during the quarter. Gotham Asset Management LLC’s holdings in Prudential Financial were worth $6,455,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 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 acquired a new stake in Prudential Financial during the fourth quarter worth about $29,000. CGC Financial Services LLC increased its stake in Prudential Financial by 82.1% during the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 124 shares during the last quarter. Wingate Wealth Advisors Inc. acquired a new stake in Prudential Financial during the fourth quarter worth about $33,000. Finally, Hopwood Financial Services Inc. purchased a new stake in shares of Prudential Financial in the fourth quarter worth about $34,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Trading Up 0.1%

NYSE:PRU opened at $107.48 on Wednesday. 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 business’s 50 day moving average is $104.77 and its two-hundred day moving average is $114.37. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55. The company has a market cap of $38.05 billion, a PE ratio of 14.39, a P/E/G ratio of 0.98 and a beta of 1.07.

Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.11. Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. The company had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $14.76 billion. During the same quarter last year, the business posted $3.12 EPS. Prudential Financial’s quarterly revenue was down 38.2% compared to the same quarter last year. On average, analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently announced 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. This represents a $5.40 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date of this dividend is Tuesday, May 20th. Prudential Financial’s dividend payout ratio is presently 85.58%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Morgan Stanley decreased their target price on 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. Wells Fargo & Company upped their target price on Prudential Financial from $108.00 to $113.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 6th. BMO Capital Markets assumed coverage on Prudential Financial in a research report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price for the company. Barclays decreased their target price on Prudential Financial from $134.00 to $106.00 and set an “equal weight” rating for the company in a research report on Friday, April 11th. Finally, JPMorgan Chase & Co. reduced their price target on Prudential Financial from $128.00 to $126.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $121.92.

Insiders Place Their Bets

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was 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 of the company’s stock, valued at $2,869,090.56. This trade represents a 18.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of Prudential Financial stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of $28.72 per share, for a total transaction of $2,499,989.84. Following the acquisition, the insider now owns 87,047 shares in the company, valued at $2,499,989.84. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.25% of the stock is currently owned by company insiders.

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.