Dimensional Fund Advisors LP Decreases Position in Prudential Financial, Inc. $PRU

Key Points

• Dimensional Fund Advisors trimmed its stake in Prudential by 3.4%, selling 127,974 shares and leaving it with 3,624,843 shares (about 1.04% of the company) valued at roughly $376 million.
• Dividend increase: Prudential raised its quarterly dividend to $1.40 (annualized $5.60), a yield of about 5.6%, up from $1.35; the ex-dividend date was Feb. 17 and payment is scheduled for Mar. 12.
• Analyst sentiment and results: Several firms cut ratings/targets leaving a consensus "Hold" with an average price target of $115, while the most recent quarter reported $3.30 EPS (slightly missing estimates) but revenue of $15.69 billion (a beat).

Dimensional Fund Advisors LP reduced its position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 3.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,624,843 shares of the financial services provider's stock after selling 127,974 shares during the period. Dimensional Fund Advisors LP owned 1.04% of Prudential Financial worth $376,038,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Darwin Wealth Management LLC purchased a new stake in shares of Prudential Financial during the second quarter worth approximately $36,000. Chilton Capital Management LLC boosted its stake in Prudential Financial by 146.5% during the 3rd quarter. Chilton Capital Management LLC now owns 350 shares of the financial services provider's stock worth $36,000 after purchasing an additional 208 shares during the last quarter. AlphaCore Capital LLC acquired a new stake in Prudential Financial during the 2nd quarter worth $39,000. Capital A Wealth Management LLC grew its holdings in shares of Prudential Financial by 4,600.0% during the second quarter. Capital A Wealth Management LLC now owns 376 shares of the financial services provider's stock worth $39,000 after buying an additional 368 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of Prudential Financial in the second quarter valued at about $51,000. Hedge funds and other institutional investors own 56.83% of the company's stock.

Insider Buying and Selling at Prudential Financial

In related news, Director Thomas D. Stoddard purchased 250 shares of Prudential Financial stock in a transaction dated Tuesday, February 17th. The shares were acquired at an average cost of $102.97 per share, with a total value of $25,742.50. Following the purchase, the director owned 250 shares of the company's stock, valued at approximately $25,742.50. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Caroline Feeney sold 6,555 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $116.28, for a total transaction of $762,215.40. Following the transaction, the executive vice president directly owned 22,523 shares of the company's stock, valued at $2,618,974.44. The trade was a 22.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders acquired 1,408,389 shares of company stock valued at $35,154,439. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PRU has been the subject of several research reports. Wall Street Zen cut shares of Prudential Financial from a "buy" rating to a "hold" rating in a research note on Saturday, January 10th. Wells Fargo & Company cut Prudential Financial from an "equal weight" rating to an "underweight" rating and lowered their target price for the stock from $115.00 to $103.00 in a report on Wednesday, February 25th. Morgan Stanley cut their price target on Prudential Financial from $120.00 to $111.00 and set an "equal weight" rating for the company in a report on Tuesday. JPMorgan Chase & Co. reduced their price objective on Prudential Financial from $133.00 to $127.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 4th. Finally, Mizuho dropped their target price on Prudential Financial from $126.00 to $113.00 and set a "neutral" rating for the company in a report on Tuesday, February 10th. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $115.00.

Prudential Financial Trading Up 0.3%

Shares of Prudential Financial stock opened at $99.13 on Friday. The stock has a 50 day moving average of $108.02 and a 200 day moving average of $107.14. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market capitalization of $34.50 billion, a price-to-earnings ratio of 9.91, a PEG ratio of 1.14 and a beta of 0.98. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $119.76.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 EPS for the quarter, missing the consensus estimate of $3.37 by ($0.07). The business had revenue of $15.69 billion during the quarter, compared to analyst estimates of $14.48 billion. Prudential Financial had a net margin of 6.20% and a return on equity of 16.32%. During the same period last year, the company earned $2.96 EPS. As a group, research analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Tuesday, February 17th will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 5.6%. This is a boost from Prudential Financial's previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Tuesday, February 17th. Prudential Financial's payout ratio is 56.00%.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential's long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential's core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.

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