Teza Capital Management LLC Makes New Investment in Prudential Financial, Inc. (NYSE:PRU)

Teza Capital Management LLC acquired a new stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,867 shares of the financial services provider's stock, valued at approximately $458,000.

Several other hedge funds have also made changes to their positions in PRU. Grove Bank & Trust raised its holdings in Prudential Financial by 65.9% in 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. Centricity Wealth Management LLC acquired a new position in shares of Prudential Financial in the fourth quarter valued at $29,000. CGC Financial Services LLC lifted its position in Prudential Financial by 82.1% in the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider's stock worth $33,000 after purchasing an additional 124 shares during the period. Wingate Wealth Advisors Inc. acquired a new stake in Prudential Financial during the fourth quarter worth $33,000. Finally, Hopwood Financial Services Inc. bought a new stake in Prudential Financial in the 4th quarter valued at $34,000. Institutional investors own 56.83% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Prudential Financial from $108.00 to $113.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. UBS Group lowered their price objective on Prudential Financial from $130.00 to $122.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Barclays cut their target price on Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. Keefe, Bruyette & Woods lowered their price target on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 7th. Finally, Morgan Stanley increased their price objective on Prudential Financial from $108.00 to $117.00 and gave the stock an "equal weight" rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $121.08.

Prudential Financial Trading Up 0.6%

PRU opened at $108.00 on Tuesday. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The firm has a 50-day moving average price of $104.75 and a two-hundred day moving average price of $113.82. The stock has a market capitalization of $38.23 billion, a PE ratio of 14.46, a PEG ratio of 0.98 and a beta of 1.07. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68.

Prudential Financial (NYSE:PRU - Get Free Report) last released 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 company had revenue of $13.61 billion during the quarter, compared to analysts' expectations of $14.76 billion. During the same period last year, the firm earned $3.12 EPS. The business's revenue for the quarter was down 38.2% on a year-over-year basis. As a group, equities analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 5.00%. The ex-dividend date of this dividend is Tuesday, May 20th. Prudential Financial's dividend payout ratio (DPR) is presently 85.58%.

Insider Transactions at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the completion of the acquisition, the insider now owns 87,047 shares of the company's stock, valued at $2,499,989.84. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value 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 $2,869,090.56. The trade was a 18.14% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Prudential Financial 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.

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.