Prudential Financial, Inc. $PRU Stock Position Increased by Murphy Middleton Hinkle & Parker Inc.

Key Points

• Murphy Middleton Hinkle & Parker Inc. boosted its stake in Prudential (PRU) by 846.7% in Q4 to 25,921 shares (an additional 23,183), worth about $2.93 million and representing 0.8% of the firm's portfolio.
• Major insider buying occurred: Insurance Co Of Ame Prudential acquired 1,406,739 shares (~$35.0M) on Jan. 23, and insiders purchased ~1,408,389 shares totaling $35.15M in the last 90 days.
• Prudential raised its quarterly dividend to $1.40 (a 5.9% yield) even as Q4 EPS of $3.30 missed estimates by $0.07, and analysts' consensus rating is Reduce with an average target of $115.22.

Murphy Middleton Hinkle & Parker Inc. boosted its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 846.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,921 shares of the financial services provider's stock after acquiring an additional 23,183 shares during the quarter. Prudential Financial comprises about 0.8% of Murphy Middleton Hinkle & Parker Inc.'s investment portfolio, making the stock its 21st biggest holding. Murphy Middleton Hinkle & Parker Inc.'s holdings in Prudential Financial were worth $2,926,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in PRU. Diversified Trust Co. acquired a new position in shares of Prudential Financial in the 4th quarter worth approximately $875,000. Regent Peak Wealth Advisors LLC acquired a new stake in Prudential Financial during the fourth quarter valued at approximately $206,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Prudential Financial by 21.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 100,492 shares of the financial services provider's stock worth $11,826,000 after buying an additional 17,849 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its holdings in Prudential Financial by 12.7% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 3,361 shares of the financial services provider's stock worth $394,000 after buying an additional 379 shares in the last quarter. Finally, Gryphon Financial Partners LLC acquired a new position in Prudential Financial in the fourth quarter worth approximately $283,000. Institutional investors own 56.83% of the company's stock.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $94.33 on Tuesday. The company's fifty day moving average is $102.84 and its two-hundred day moving average is $105.90. The company has a market cap of $32.83 billion, a P/E ratio of 9.43, a price-to-earnings-growth ratio of 1.15 and a beta of 0.98. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $119.76. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its 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 $14.52 billion during the quarter, compared to analyst estimates of $14.48 billion. Prudential Financial had a return on equity of 16.32% and a net margin of 6.20%.During the same period last year, the business earned $2.96 EPS. Equities analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Tuesday, February 17th were paid a dividend of $1.40 per share. This is a boost from Prudential Financial's previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $5.60 annualized dividend and a yield of 5.9%. Prudential Financial's dividend payout ratio (DPR) is presently 56.00%.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential acquired 1,406,739 shares of the stock in a transaction that occurred on Friday, January 23rd. The shares were purchased at an average cost of $24.87 per share, with a total value of $34,985,598.93. Following the completion of the transaction, the insider owned 7,709,624 shares of the company's stock, valued at approximately $191,738,348.88. This trade represents a 22.32% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Jacques Chappuis acquired 1,000 shares of the company's stock in a transaction on Friday, February 6th. The stock was bought at an average price of $100.97 per share, for a total transaction of $100,970.00. Following the purchase, the executive vice president owned 1,000 shares in the company, valued at approximately $100,970. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders purchased 1,408,389 shares of company stock worth $35,154,439. Insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

PRU has been the subject of a number of recent research reports. Weiss Ratings downgraded Prudential Financial from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, March 13th. Morgan Stanley cut their target price on Prudential Financial from $120.00 to $111.00 and set an "equal weight" rating on the stock in a research report on Tuesday, March 3rd. Wells Fargo & Company downgraded Prudential Financial from an "equal weight" rating to an "underweight" rating and reduced their target price for the company from $115.00 to $103.00 in a report on Wednesday, February 25th. Barclays decreased their price target on Prudential Financial from $124.00 to $119.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 11th. Finally, UBS Group boosted their price objective on Prudential Financial from $111.00 to $116.00 and gave the stock a "neutral" rating in a report on Thursday, January 8th. Nine investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Reduce" and an average target price of $115.22.

Prudential Financial 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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