121,050 Shares in Prudential Financial, Inc. (NYSE:PRU) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new position in Prudential Financial, Inc. (NYSE:PRU) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 121,050 shares of the financial services provider’s stock, valued at approximately $14,348,000.

Other institutional investors have also recently bought and sold shares of the company. Grove Bank & Trust increased its stake in Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 87 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in Prudential Financial in the 4th quarter worth about $29,000. CGC Financial Services LLC increased its stake in Prudential Financial by 82.1% in the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 124 shares in the last quarter. Wingate Wealth Advisors Inc. purchased a new position in Prudential Financial in the 4th quarter worth about $33,000. Finally, Quarry LP increased its stake in Prudential Financial by 376.3% in the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 222 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Analyst Upgrades and Downgrades

PRU has been the topic of several research analyst reports. Barclays lifted their target price on Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Wells Fargo & Company lifted their target price on Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Morgan Stanley lowered their target price on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. Keefe, Bruyette & Woods lowered their target price on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 12th. Finally, Jefferies Financial Group lifted their target price on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Prudential Financial has a consensus rating of “Hold” and a consensus target price of $126.15.

Prudential Financial Stock Down 0.4 %

PRU opened at $110.35 on Monday. The business has a 50 day moving average price of $113.57 and a 200 day moving average price of $119.03. Prudential Financial, Inc. has a twelve month low of $104.45 and a twelve month high of $130.55. 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 $39.51 billion, a P/E ratio of 14.77, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. Research analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were issued a $1.35 dividend. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend was Tuesday, February 18th. Prudential Financial’s payout ratio is 72.29%.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the business’s stock in a transaction dated 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 completion of the acquisition, the insider now directly owns 87,047 shares in the company, valued at $2,499,989.84. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the company’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 value of $635,880.00. Following the transaction, the executive vice president now owns 27,072 shares of the company’s stock, valued at approximately $2,869,090.56. This trade represents a 18.14 % decrease in their ownership of the stock. 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.