BNP Paribas Grows Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

BNP Paribas grew its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 539.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,447 shares of the financial services provider's stock after acquiring an additional 3,752 shares during the period. BNP Paribas' holdings in Prudential Financial were worth $527,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Savant Capital LLC boosted its position in Prudential Financial by 0.6% during the fourth quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider's stock worth $1,705,000 after purchasing an additional 83 shares in the last quarter. Grove Bank & Trust increased its holdings in Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 87 shares in the last quarter. HBK Sorce Advisory LLC raised its position in Prudential Financial by 1.0% during the fourth quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider's stock worth $1,116,000 after acquiring an additional 91 shares during the last quarter. Asset Dedication LLC grew its position in shares of Prudential Financial by 28.4% in the fourth quarter. Asset Dedication LLC now owns 420 shares of the financial services provider's stock valued at $50,000 after purchasing an additional 93 shares during the last quarter. Finally, Altman Advisors Inc. increased its stake in shares of Prudential Financial by 0.6% during the 4th quarter. Altman Advisors Inc. now owns 16,087 shares of the financial services provider's stock worth $1,907,000 after purchasing an additional 94 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company's stock.

Prudential Financial Price Performance

Prudential Financial stock opened at $103.60 on Monday. The firm has a fifty day moving average of $105.88 and a 200-day moving average of $115.34. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $130.55. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $36.72 billion, a P/E ratio of 13.87, a PEG ratio of 0.98 and a beta of 1.11.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, beating the consensus estimate of $3.18 by $0.11. Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. The company had revenue of $13.61 billion for the quarter, compared to analyst estimates of $14.76 billion. During the same period last year, the company posted $3.12 earnings per share. The firm's revenue was down 38.2% compared to the same quarter last year. As a group, analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were given a $1.35 dividend. This is an increase 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 annualized dividend and a yield of 5.21%. Prudential Financial's dividend payout ratio (DPR) is 72.29%.

Insider Activity

In other news, EVP Andrew F. Sullivan sold 6,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average cost of $28.72 per share, for a total transaction 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 $2,499,989.84. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PRU. UBS Group dropped their price target on Prudential Financial from $130.00 to $122.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Morgan Stanley reduced their target price on shares of Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. Wells Fargo & Company lowered their price target on shares of Prudential Financial from $118.00 to $108.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. JPMorgan Chase & Co. decreased their target price on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods reduced their price target on Prudential Financial from $125.00 to $120.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 9th. One equities research 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $121.77.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.