Everstar Asset Management LLC Sells 1,782 Shares of Prudential Financial, Inc. (NYSE:PRU)

Everstar Asset Management LLC trimmed its position in Prudential Financial, Inc. (NYSE:PRU) by 32.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,750 shares of the financial services provider’s stock after selling 1,782 shares during the quarter. Everstar Asset Management LLC’s holdings in Prudential Financial were worth $444,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PRU. Grove Bank & Trust raised its stake in Prudential Financial by 65.9% in the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after buying an additional 87 shares during the period. Centricity Wealth Management LLC acquired a new position in shares of Prudential Financial during the 4th quarter worth approximately $29,000. CGC Financial Services LLC raised 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 valued at $33,000 after acquiring an additional 124 shares during the period. Wingate Wealth Advisors Inc. acquired a new stake in Prudential Financial during the 4th quarter valued at $33,000. Finally, Quarry LP boosted its position in Prudential Financial by 376.3% during the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 222 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Trading Down 3.9 %

Shares of Prudential Financial stock opened at $109.94 on Monday. The firm’s 50-day moving average price is $113.09 and its two-hundred day moving average price is $118.98. The company has a market capitalization of $39.36 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 0.98 and a beta of 1.28. 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 $104.45 and a 12-month high of $130.55.

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

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were paid a $1.35 dividend. The ex-dividend date was Tuesday, February 18th. 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 4.91%. Prudential Financial’s dividend payout ratio (DPR) is 72.29%.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of the firm’s stock in a transaction on Tuesday, March 25th. The shares were purchased at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the completion of the purchase, the insider now owns 139,987 shares in the company, valued at $3,992,429.24. This represents a 60.18 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the sale, the executive vice president now directly owns 27,072 shares in the company, valued at approximately $2,869,090.56. This trade represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. Morgan Stanley cut their price objective 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 started coverage on Prudential Financial in a research note on Thursday, January 23rd. They set an “underperform” rating and a $101.00 target price on the stock. Barclays boosted their price target 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. Finally, Keefe, Bruyette & Woods lowered their price objective on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $126.15.

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.