Naples Global Advisors LLC Reduces Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Naples Global Advisors LLC lessened its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,589 shares of the financial services provider’s stock after selling 365 shares during the period. Naples Global Advisors LLC’s holdings in Prudential Financial were worth $1,966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kentucky Trust Co purchased a new stake in shares of Prudential Financial in the fourth quarter worth about $54,000. Capital Advisors Inc. OK lifted its holdings in Prudential Financial by 5.1% in the fourth quarter. Capital Advisors Inc. OK now owns 262,238 shares of the financial services provider’s stock valued at $31,083,000 after acquiring an additional 12,644 shares during the period. Indiana Trust & Investment Management Co grew its stake in shares of Prudential Financial by 4.0% during the 4th quarter. Indiana Trust & Investment Management Co now owns 4,563 shares of the financial services provider’s stock worth $541,000 after purchasing an additional 175 shares during the period. Community Bank & Trust Waco Texas increased its holdings in shares of Prudential Financial by 1.5% during the 4th quarter. Community Bank & Trust Waco Texas now owns 46,558 shares of the financial services provider’s stock valued at $5,519,000 after purchasing an additional 698 shares in the last quarter. Finally, Stonebridge Financial Group LLC acquired a new position in shares of Prudential Financial in the 4th quarter valued at $237,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were bought at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the acquisition, the insider now directly owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. This trade represents a 12.66 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.31% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. BMO Capital Markets started coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price target on the stock. Jefferies Financial Group lifted their price target on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Barclays increased their price target on Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Wells Fargo & Company reduced their target price on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Finally, TD Cowen lifted their price target on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. 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 assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $125.46.

Prudential Financial Price Performance

Prudential Financial stock opened at $110.82 on Thursday. The company has a fifty day simple moving average of $118.78 and a 200-day simple moving average of $120.07. The company has a quick ratio of 0.14, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $39.45 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 1.00 and a beta of 1.31. Prudential Financial, Inc. has a 52-week low of $104.02 and a 52-week high of $130.55.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 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, equities analysts anticipate that Prudential Financial, Inc. will post 14.38 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $1.35 per share. The ex-dividend date is Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a yield of 4.87%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s payout ratio is 69.61%.

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.