CoreCap Advisors LLC Increases Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

CoreCap Advisors LLC grew its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 14.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,506 shares of the financial services provider's stock after purchasing an additional 2,822 shares during the quarter. CoreCap Advisors LLC's holdings in Prudential Financial were worth $2,668,000 at the end of the most recent quarter.

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

Prudential Financial Trading Down 0.1 %

Prudential Financial stock traded down $0.06 during mid-day trading on Friday, hitting $103.55. The company's stock had a trading volume of 1,010,836 shares, compared to its average volume of 1,615,114. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $36.70 billion, a PE ratio of 13.86, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07. The stock's fifty day moving average is $104.89 and its two-hundred day moving average is $114.68.

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

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Tuesday, May 20th will be issued a $1.35 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $5.40 annualized dividend and a yield of 5.21%. Prudential Financial's dividend payout ratio (DPR) is presently 85.58%.

Insiders Place Their Bets

In other news, EVP Andrew F. Sullivan sold 6,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was 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 in the company, valued at approximately $2,869,090.56. This trade represents a 18.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were bought at an average cost of $28.52 per share, with a total value of $1,500,009.40. Following the completion of the purchase, the insider now directly owns 139,987 shares in the company, valued at $3,992,429.24. This represents a 60.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PRU has been the subject of several recent analyst reports. Piper Sandler cut their price target on Prudential Financial from $110.00 to $109.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Barclays dropped 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 research note on Friday, April 11th. UBS Group decreased their price objective on shares of Prudential Financial from $130.00 to $122.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Wells Fargo & Company boosted their target price on shares of Prudential Financial from $108.00 to $113.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Prudential Financial from $120.00 to $117.00 and set a "market perform" rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Prudential Financial has an average rating of "Hold" and a consensus price target of $121.92.

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.