Graham Capital Management L.P. Cuts Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Graham Capital Management L.P. lessened its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 81.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,630 shares of the financial services provider's stock after selling 33,253 shares during the period. Graham Capital Management L.P.'s holdings in Prudential Financial were worth $904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Grove Bank & Trust raised its position in shares of Prudential Financial by 65.9% in the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock worth $26,000 after acquiring an additional 87 shares during the period. Centricity Wealth Management LLC acquired a new position in shares of Prudential Financial in the fourth quarter worth about $29,000. CGC Financial Services LLC raised its position in shares of 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 acquiring an additional 124 shares during the period. Wingate Wealth Advisors Inc. acquired a new position in shares of Prudential Financial in the fourth quarter worth about $33,000. Finally, Hopwood Financial Services Inc. acquired a new position in shares of Prudential Financial in the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 56.83% of the company's stock.

Insider Activity

In other news, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were bought at an average cost of $28.72 per share, for a total transaction of $2,499,989.84. Following the completion of the purchase, the insider now directly owns 87,047 shares of the company's stock, valued at approximately $2,499,989.84. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total value of $635,880.00. Following the transaction, the executive vice president now owns 27,072 shares in the company, valued at $2,869,090.56. This trade represents a 18.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company's stock.

Prudential Financial Price Performance

NYSE PRU traded up $0.37 during trading hours on Friday, hitting $107.37. 1,434,144 shares of the company's stock traded hands, compared to its average volume of 1,620,073. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $130.55. The company has a market capitalization of $38.01 billion, a PE ratio of 14.37, a PEG ratio of 0.98 and a beta of 1.07. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. The firm's 50-day moving average is $104.71 and its 200-day moving average is $114.06.

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

Prudential Financial Dividend Announcement

The company also recently declared 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. The ex-dividend date is Tuesday, May 20th. This represents a $5.40 annualized dividend and a dividend yield of 5.03%. Prudential Financial's dividend payout ratio (DPR) is 85.58%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PRU. BMO Capital Markets began coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 price objective for the company. UBS Group reduced their price target on shares of Prudential Financial from $130.00 to $122.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods reduced their price target on shares of Prudential Financial from $120.00 to $117.00 and set a "market perform" rating for the company in a research report on Wednesday, May 7th. Barclays reduced their price target on shares of 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. Finally, Wells Fargo & Company upped 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 report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price 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.