Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by SageView Advisory Group LLC

SageView Advisory Group LLC boosted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 18.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,939 shares of the financial services provider’s stock after buying an additional 459 shares during the quarter. SageView Advisory Group LLC’s holdings in Prudential Financial were worth $313,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Choreo LLC lifted its stake in Prudential Financial by 163.5% during the fourth quarter. Choreo LLC now owns 6,940 shares of the financial services provider’s stock worth $720,000 after purchasing an additional 4,306 shares in the last quarter. FMR LLC boosted its holdings in Prudential Financial by 2.9% during the 3rd quarter. FMR LLC now owns 1,315,215 shares of the financial services provider’s stock valued at $124,801,000 after acquiring an additional 36,599 shares during the period. Greenwood Capital Associates LLC acquired a new position in Prudential Financial in the 4th quarter valued at about $1,087,000. Crestline Management LP increased its stake in Prudential Financial by 50.0% during the fourth quarter. Crestline Management LP now owns 60,000 shares of the financial services provider’s stock worth $6,223,000 after purchasing an additional 20,000 shares during the period. Finally, Tyche Wealth Partners LLC purchased a new position in shares of Prudential Financial in the fourth quarter valued at approximately $815,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and increased their target price for the stock from $121.00 to $143.00 in a report on Wednesday, May 22nd. Wells Fargo & Company lifted their target price on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a report on Thursday, April 11th. Keefe, Bruyette & Woods increased their price target on Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Evercore ISI boosted their price objective on Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a research report on Thursday, April 25th. Finally, Morgan Stanley raised their target price on shares of Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Prudential Financial currently has a consensus rating of “Hold” and a consensus price target of $115.25.

Prudential Financial Stock Up 1.0 %

Shares of NYSE:PRU opened at $115.67 on Thursday. The firm has a 50 day simple moving average of $115.16 and a 200-day simple moving average of $110.03. Prudential Financial, Inc. has a twelve month low of $83.34 and a twelve month high of $121.39. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $41.53 billion, a PE ratio of 19.67, a P/E/G ratio of 0.86 and a beta of 1.35.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing the consensus estimate of $3.16 by ($0.04). The company had revenue of $15.01 billion for the quarter, compared to analyst estimates of $14.50 billion. Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. Prudential Financial’s revenue was up 69.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.66 earnings per share. On average, equities analysts predict that Prudential Financial, Inc. will post 13.41 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date was Monday, May 20th. Prudential Financial’s dividend payout ratio is currently 88.44%.

Insider Activity

In related news, EVP Robert Falzon sold 130,092 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $118.57, for a total value of $15,425,008.44. Following the completion of the sale, the executive vice president now owns 202,083 shares in the company, valued at approximately $23,960,981.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Prudential Financial news, SVP Timothy L. Schmidt sold 5,189 shares of Prudential Financial stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total value of $604,933.62. Following the transaction, the senior vice president now directly owns 12,236 shares in the company, valued at approximately $1,426,472.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert Falzon sold 130,092 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $118.57, for a total value of $15,425,008.44. Following the sale, the executive vice president now owns 202,083 shares of the company’s stock, valued at approximately $23,960,981.31. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

About Prudential Financial

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.