World Investment Advisors Grows Position in Prudential Financial, Inc. (NYSE:PRU)

World Investment Advisors grew its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 78.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,981 shares of the financial services provider’s stock after acquiring an additional 2,189 shares during the quarter. World Investment Advisors’ holdings in Prudential Financial were worth $590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. OneAscent Financial Services LLC bought a new stake in Prudential Financial in the 4th quarter worth about $222,000. Huntington National Bank grew its holdings in shares of Prudential Financial by 8.6% in the fourth quarter. Huntington National Bank now owns 155,355 shares of the financial services provider’s stock valued at $18,414,000 after acquiring an additional 12,267 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Prudential Financial in the fourth quarter valued at approximately $263,000. Geode Capital Management LLC lifted its holdings in Prudential Financial by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 8,856,360 shares of the financial services provider’s stock worth $1,050,635,000 after acquiring an additional 193,681 shares during the period. Finally, Nemes Rush Group LLC boosted its position in Prudential Financial by 7.5% in the fourth quarter. Nemes Rush Group LLC now owns 7,607 shares of the financial services provider’s stock worth $902,000 after purchasing an additional 533 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

PRU has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods cut their price target on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a report on Wednesday, February 12th. BMO Capital Markets started coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price on the stock. Morgan Stanley decreased their price target on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. JPMorgan Chase & Co. dropped their price objective on Prudential Financial from $128.00 to $126.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Finally, Jefferies Financial Group raised their target price on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. One equities research 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $126.08.

Insider Activity

In other news, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of the business’s stock in a transaction dated Tuesday, March 25th. The stock was purchased at an average cost of $28.52 per share, for a total transaction of $1,500,009.40. Following the acquisition, the insider now owns 139,987 shares of the company’s stock, valued at $3,992,429.24. This trade represents a 60.18 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the transaction, the executive vice president now directly owns 27,072 shares in the company, valued at approximately $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. Corporate insiders own 0.31% of the company’s stock.

Prudential Financial Trading Down 0.9 %

Shares of PRU opened at $95.70 on Tuesday. The business’s 50-day moving average price is $111.53 and its 200-day moving average price is $118.44. 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 twelve month low of $90.38 and a twelve month high of $130.55. The stock has a market cap of $33.92 billion, a PE ratio of 12.81, a P/E/G ratio of 0.98 and a beta of 1.11.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing the consensus estimate 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, equities analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were issued a $1.35 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $5.40 annualized dividend and a dividend yield of 5.64%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio (DPR) is presently 72.29%.

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.