Prudential Financial, Inc. (NYSE:PRU) Shares Bought by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 55.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,396 shares of the financial services provider’s stock after acquiring an additional 5,826 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Prudential Financial were worth $1,943,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Grove Bank & Trust raised its position in shares of Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 87 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Prudential Financial during the 3rd quarter worth about $31,000. CGC Financial Services LLC raised its position in shares of Prudential Financial by 82.1% during the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 124 shares in the last quarter. Wingate Wealth Advisors Inc. acquired a new stake in shares of Prudential Financial during the 4th quarter worth about $33,000. Finally, Quarry LP raised its position in shares of Prudential Financial by 376.3% during the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 222 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was bought at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the acquisition, the insider now directly owns 4,780,293 shares in the company, valued at $133,465,780.56. The trade was a 12.66 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

PRU has been the topic of a number of research reports. Keefe, Bruyette & Woods dropped their price target 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. Jefferies Financial Group raised their price target on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Wells Fargo & Company dropped their price target on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. TD Cowen raised their price target on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Finally, 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. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $125.46.

Prudential Financial Stock Performance

Shares of PRU stock opened at $111.71 on Wednesday. The stock has a fifty day moving average price of $117.46 and a 200 day moving average price of $119.71. The stock has a market cap of $39.99 billion, a PE ratio of 14.95, a P/E/G ratio of 0.99 and a beta of 1.31. Prudential Financial, Inc. has a 1 year low of $104.44 and a 1 year high of $130.55. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. Sell-side analysts forecast that Prudential Financial, Inc. will post 14.34 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.83%. Prudential Financial’s payout ratio is currently 69.61%.

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.