Systematic Financial Management LP Cuts Stake in Prudential Financial, Inc. (NYSE:PRU)

Systematic Financial Management LP lowered its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 68.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,045 shares of the financial services provider’s stock after selling 2,255 shares during the quarter. Systematic Financial Management LP’s holdings in Prudential Financial were worth $124,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of PRU. Barclays PLC raised its position in Prudential Financial by 11.0% during the 3rd quarter. Barclays PLC now owns 1,062,776 shares of the financial services provider’s stock worth $128,700,000 after buying an additional 105,089 shares during the last quarter. Park Avenue Securities LLC increased its holdings in shares of Prudential Financial by 44.5% in the 4th quarter. Park Avenue Securities LLC now owns 12,143 shares of the financial services provider’s stock valued at $1,439,000 after purchasing an additional 3,740 shares in the last quarter. Gateway Investment Advisers LLC increased its holdings in shares of Prudential Financial by 56.1% in the 4th quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider’s stock valued at $2,607,000 after purchasing an additional 7,907 shares in the last quarter. Ritholtz Wealth Management increased its holdings in shares of Prudential Financial by 4.1% in the 4th quarter. Ritholtz Wealth Management now owns 9,089 shares of the financial services provider’s stock valued at $1,077,000 after purchasing an additional 360 shares in the last quarter. Finally, Avanza Fonder AB purchased a new position in shares of Prudential Financial in the 4th quarter valued at about $3,423,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

Prudential Financial stock opened at $107.37 on Friday. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55. The stock has a market capitalization of $38.01 billion, a P/E ratio of 14.37, a P/E/G ratio of 0.98 and a beta of 1.07. The firm’s 50-day moving average is $104.71 and its two-hundred day moving average is $113.97. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $14.76 billion. During the same period last year, the company earned $3.12 EPS. The firm’s revenue for the quarter was down 38.2% compared to the same quarter last year. Equities analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Tuesday, May 20th will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $5.40 annualized dividend and a dividend yield of 5.03%. Prudential Financial’s dividend payout ratio is currently 85.58%.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average cost of $28.72 per share, with a total value of $2,499,989.84. Following the completion of the transaction, the insider now owns 87,047 shares of the company’s stock, valued at approximately $2,499,989.84. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the firm’s 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 completion of the sale, the executive vice president now directly owns 27,072 shares in the company, valued at $2,869,090.56. This represents a 18.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PRU has been the subject of a number of research analyst reports. Piper Sandler cut their price target on shares of Prudential Financial from $110.00 to $109.00 and set a “neutral” rating for the company in a report on Friday, May 2nd. UBS Group cut their price target on shares of Prudential Financial from $130.00 to $122.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Wells Fargo & Company increased their price target on shares of Prudential Financial from $108.00 to $113.00 and gave the company an “equal weight” rating in a report on Tuesday, May 6th. Keefe, Bruyette & Woods lowered their price objective on shares of Prudential Financial from $120.00 to $117.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 7th. Finally, Barclays lowered their price objective 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. One equities research 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’s stock. According to MarketBeat.com, Prudential Financial has an average rating of “Hold” and an average price target of $121.92.

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.