Crestline Management LP Makes New Investment in Prudential Financial, Inc. (NYSE:PRU)

Crestline Management LP purchased a new stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 17,400 shares of the financial services provider's stock, valued at approximately $2,062,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Prudential Financial by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 41,850,558 shares of the financial services provider's stock worth $4,960,547,000 after acquiring an additional 220,671 shares during the last quarter. Geode Capital Management LLC grew its position in Prudential Financial by 2.2% in the fourth 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 purchasing an additional 193,681 shares in the last quarter. Northern Trust Corp lifted its position in Prudential Financial by 23.7% during the 4th quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider's stock worth $555,513,000 after buying an additional 897,916 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Prudential Financial by 0.3% during the 4th 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 buying an additional 6,938 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Prudential Financial by 1.1% during 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 acquiring an additional 26,210 shares in the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Prudential Financial

In other news, EVP Andrew F. Sullivan sold 6,000 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total transaction of $635,880.00. Following the transaction, the executive vice president now owns 27,072 shares in the company, valued at approximately $2,869,090.56. This represents a 18.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of Prudential Financial 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 completion of the purchase, the insider now owns 139,987 shares in the company, valued at $3,992,429.24. This trade 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 corporate insiders.

Prudential Financial Stock Down 0.7 %

Shares of NYSE PRU opened at $101.18 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The firm has a market cap of $35.86 billion, a PE ratio of 13.54, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07. The company has a 50 day simple moving average of $105.20 and a 200 day simple moving average of $114.98.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its earnings results 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 business had revenue of $13.61 billion for the quarter, compared to analysts' expectations of $14.76 billion. During the same period in the prior year, the business posted $3.12 earnings per share. The firm's revenue was down 38.2% on a year-over-year basis. On average, research analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders 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 dividend on an annualized basis and a yield of 5.34%. Prudential Financial's payout ratio is currently 85.58%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PRU shares. BMO Capital Markets started coverage on Prudential Financial in a report on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 price objective for the company. Keefe, Bruyette & Woods dropped their price objective on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating on the stock in a research note on Wednesday. Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $108.00 to $113.00 and gave the stock an "equal weight" rating in a research report on Tuesday. UBS Group decreased their target price on Prudential Financial from $130.00 to $122.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Finally, Barclays decreased their target price on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $121.92.

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.

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