HUB Investment Partners LLC Has $6.58 Million Holdings in Prudential Financial, Inc. (NYSE:PRU)

HUB Investment Partners LLC lessened its position in Prudential Financial, Inc. (NYSE:PRU) by 4.2% in the fourth quarter, HoldingsChannel reports. The fund owned 55,481 shares of the financial services provider’s stock after selling 2,441 shares during the quarter. HUB Investment Partners LLC’s holdings in Prudential Financial were worth $6,576,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Whittier Trust Co. grew its stake in Prudential Financial by 8.2% in the fourth quarter. Whittier Trust Co. now owns 4,140 shares of the financial services provider’s stock valued at $491,000 after acquiring an additional 314 shares during the period. Berkeley Capital Partners LLC lifted its holdings in Prudential Financial by 2.5% during the fourth quarter. Berkeley Capital Partners LLC now owns 5,100 shares of the financial services provider’s stock worth $605,000 after acquiring an additional 126 shares during the period. iA Global Asset Management Inc. lifted its holdings in Prudential Financial by 291.5% during the fourth quarter. iA Global Asset Management Inc. now owns 6,809 shares of the financial services provider’s stock worth $807,000 after acquiring an additional 5,070 shares during the period. Algebris UK Ltd lifted its holdings in Prudential Financial by 79.5% during the fourth quarter. Algebris UK Ltd now owns 218,412 shares of the financial services provider’s stock worth $24,951,000 after acquiring an additional 96,725 shares during the period. Finally, Vinva Investment Management Ltd lifted its holdings in Prudential Financial by 13.2% during the fourth quarter. Vinva Investment Management Ltd now owns 18,742 shares of the financial services provider’s stock worth $2,214,000 after acquiring an additional 2,186 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average price of $28.72 per share, with a total value of $2,499,989.84. Following the completion of the acquisition, the insider now directly owns 87,047 shares of the company’s stock, valued at approximately $2,499,989.84. The trade was a ? increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the business’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 sale, the executive vice president now directly owns 27,072 shares of the company’s stock, valued at $2,869,090.56. This represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Prudential Financial Trading Up 0.8 %

PRU opened at $110.64 on Thursday. The business has a 50 day simple moving average of $113.81 and a two-hundred day simple moving average of $119.18. The firm has a market capitalization of $39.61 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 0.98 and a beta of 1.28. 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, Inc. has a one year low of $104.45 and a one year 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%. Analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders 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. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.88%. Prudential Financial’s dividend payout ratio (DPR) is presently 72.29%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Morgan Stanley dropped their price target on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. BMO Capital Markets initiated coverage on Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price on the stock. Barclays boosted 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. 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, Piper Sandler lowered their target price on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. One 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $126.15.

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.