MML Investors Services LLC Acquires 4,829 Shares of Prudential Financial, Inc. (NYSE:PRU)

MML Investors Services LLC boosted its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 3.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,500 shares of the financial services provider's stock after buying an additional 4,829 shares during the quarter. MML Investors Services LLC's holdings in Prudential Financial were worth $17,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Savant Capital LLC boosted its stake in Prudential Financial by 0.6% in the fourth quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider's stock worth $1,705,000 after buying an additional 83 shares in the last quarter. Grove Bank & Trust boosted its stake in 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 buying an additional 87 shares in the last quarter. HBK Sorce Advisory LLC boosted its stake in Prudential Financial by 1.0% in the fourth quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider's stock worth $1,116,000 after buying an additional 91 shares in the last quarter. Asset Dedication LLC boosted its stake in Prudential Financial by 28.4% in the fourth quarter. Asset Dedication LLC now owns 420 shares of the financial services provider's stock worth $50,000 after buying an additional 93 shares in the last quarter. Finally, Altman Advisors Inc. boosted its stake in shares of Prudential Financial by 0.6% during the fourth quarter. Altman Advisors Inc. now owns 16,087 shares of the financial services provider's stock valued at $1,907,000 after purchasing an additional 94 shares during the period. 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 acquired 87,047 shares of Prudential Financial stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average cost of $28.72 per share, with a total value of $2,499,989.84. Following the completion of the purchase, the insider now directly owns 87,047 shares in the company, valued at approximately $2,499,989.84. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $635,880.00. Following the transaction, the executive vice president now owns 27,072 shares of the company's stock, valued at approximately $2,869,090.56. This represents 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 Stock Down 1.1 %

PRU traded down $1.18 during trading on Friday, reaching $102.85. The stock had a trading volume of 1,276,662 shares, compared to its average volume of 1,609,158. The stock's 50 day moving average is $106.64 and its two-hundred day moving average is $116.14. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $36.45 billion, a price-to-earnings ratio of 13.77, a P/E/G ratio of 0.98 and a beta of 1.11. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. As a group, analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 5.25%. This is a boost from Prudential Financial's previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, February 18th. Prudential Financial's payout ratio is presently 72.29%.

Analyst Ratings Changes

A number of analysts have recently weighed in on PRU shares. UBS Group dropped their price objective on Prudential Financial from $130.00 to $122.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Morgan Stanley dropped their price objective on Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. JPMorgan Chase & Co. dropped their price objective on Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods dropped their price objective on Prudential Financial from $125.00 to $120.00 and set a "market perform" rating for the company in a research note on Wednesday, April 9th. Finally, Barclays decreased their target price on Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $121.85.

Prudential Financial Company 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.