Tidal Investments LLC Has $5.86 Million Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Tidal Investments LLC lifted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 160.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,403 shares of the financial services provider's stock after purchasing an additional 30,436 shares during the quarter. Tidal Investments LLC's holdings in Prudential Financial were worth $5,856,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Grove Bank & Trust raised its holdings in Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock worth $26,000 after buying an additional 87 shares during the period. Centricity Wealth Management LLC bought a new stake in shares of Prudential Financial during the fourth quarter worth $29,000. CGC Financial Services LLC raised its holdings in shares of Prudential Financial by 82.1% during the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider's stock worth $33,000 after acquiring an additional 124 shares during the period. Wingate Wealth Advisors Inc. acquired a new position in Prudential Financial in the 4th quarter worth $33,000. Finally, Hopwood Financial Services Inc. bought a new position in Prudential Financial during the 4th quarter worth about $34,000. Institutional investors own 56.83% of the company's stock.

Insider Buying and Selling at Prudential Financial

In related news, EVP Andrew F. Sullivan sold 6,000 shares of Prudential Financial stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the sale, the executive vice president now directly owns 27,072 shares of the company's stock, valued at approximately $2,869,090.56. This trade represents a 18.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was purchased at an average cost 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 in the company, valued at approximately $2,499,989.84. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

PRU has been the topic of a number of research reports. Keefe, Bruyette & Woods cut their price target on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating on the stock in a report on Wednesday, May 7th. Barclays cut their target price on 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. Wells Fargo & Company raised their price target 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, May 6th. UBS Group lowered 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. Finally, Piper Sandler reduced their target price on shares of Prudential Financial from $110.00 to $109.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $121.08.

Prudential Financial Stock Down 0.3%

Shares of NYSE:PRU traded down $0.33 during midday trading on Monday, hitting $102.00. The stock had a trading volume of 1,499,856 shares, compared to its average volume of 1,627,073. The company has a market cap of $36.11 billion, a P/E ratio of 13.65, a PEG ratio of 0.98 and a beta of 1.07. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $130.55. The business's 50-day simple moving average is $104.32 and its 200-day simple moving average is $113.26. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68.

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

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Tuesday, May 20th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date is Tuesday, May 20th. Prudential Financial's dividend payout ratio (DPR) is presently 85.58%.

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.