MML Investors Services LLC Increases Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

MML Investors Services LLC increased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 3.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 144,500 shares of the financial services provider’s stock after acquiring an additional 4,829 shares during the period. MML Investors Services LLC’s holdings in Prudential Financial were worth $17,128,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Prudential Financial by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 41,850,558 shares of the financial services provider’s stock valued at $4,960,547,000 after buying an additional 220,671 shares during the period. Geode Capital Management LLC boosted its position in shares of Prudential Financial by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 8,856,360 shares of the financial services provider’s stock valued at $1,050,635,000 after acquiring an additional 193,681 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Prudential Financial by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 2,454,278 shares of the financial services provider’s stock worth $290,906,000 after purchasing an additional 6,938 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Prudential Financial by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,409,521 shares of the financial services provider’s stock worth $285,601,000 after purchasing an additional 26,210 shares during the last quarter. Finally, Amundi raised its stake in Prudential Financial by 32.7% in the fourth quarter. Amundi now owns 1,535,514 shares of the financial services provider’s stock valued at $181,851,000 after purchasing an additional 378,266 shares in the last quarter. 56.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PRU shares. Barclays decreased their price target on shares of Prudential Financial from $134.00 to $106.00 and set an “equal weight” rating on the stock in a report on Friday, April 11th. Keefe, Bruyette & Woods lowered their price target on Prudential Financial from $125.00 to $120.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 9th. JPMorgan Chase & Co. cut their price objective on Prudential Financial from $128.00 to $126.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. BMO Capital Markets initiated coverage on Prudential Financial in a research report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price for the company. Finally, Wells Fargo & Company reduced their price target on shares of Prudential Financial from $118.00 to $108.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Prudential Financial presently has a consensus rating of “Hold” and an average target price of $121.85.

Prudential Financial Price Performance

Shares of Prudential Financial stock opened at $96.79 on Tuesday. The firm has a market cap of $34.30 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 0.98 and a beta of 1.11. The company’s fifty day simple moving average is $107.41 and its two-hundred day simple moving average is $116.68. 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 $90.38 and a 12-month high of $130.55.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results 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%. As a group, equities analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors 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 yield of 5.58%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s payout ratio is 72.29%.

Insider Buying and Selling at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was purchased at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the transaction, the insider now owns 139,987 shares of the company’s stock, valued at approximately $3,992,429.24. The trade was a 60.18 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of Prudential Financial stock in a transaction that occurred 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 owns 27,072 shares in the company, valued at $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. Insiders own 0.25% 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.