Foundry Partners LLC Has $37.80 Million Holdings in Prudential Financial, Inc. (NYSE:PRU)

Foundry Partners LLC reduced its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 10.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 364,426 shares of the financial services provider's stock after selling 44,365 shares during the quarter. Prudential Financial accounts for approximately 2.3% of Foundry Partners LLC's investment portfolio, making the stock its 2nd largest holding. Foundry Partners LLC owned approximately 0.10% of Prudential Financial worth $37,795,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Cambridge Trust Co. raised its holdings in Prudential Financial by 77.2% in the fourth quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider's stock worth $25,000 after purchasing an additional 105 shares in the last quarter. Sanctuary Wealth Management L.L.C. bought a new position in Prudential Financial in the fourth quarter worth about $25,000. Bruce G. Allen Investments LLC bought a new position in Prudential Financial in the fourth quarter worth about $26,000. Headinvest LLC bought a new position in Prudential Financial in the third quarter worth about $27,000. Finally, Pacific Center for Financial Services bought a new position in Prudential Financial in the first quarter worth about $27,000. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Price Performance

Shares of PRU stock traded up $1.91 during trading hours on Friday, hitting $110.61. 1,470,960 shares of the company's stock were exchanged, compared to its average volume of 1,228,978. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. The firm has a market cap of $39.71 billion, a P/E ratio of 16.53, a P/E/G ratio of 0.75 and a beta of 1.37. The firm has a 50 day moving average of $111.30 and a two-hundred day moving average of $103.22. Prudential Financial, Inc. has a fifty-two week low of $77.22 and a fifty-two week high of $118.69.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its earnings results on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share for the quarter, missing the consensus estimate of $2.67 by ($0.09). The business had revenue of $13.02 billion for the quarter, compared to analyst estimates of $12.99 billion. Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. The company's quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.42 earnings per share. Sell-side analysts forecast that Prudential Financial, Inc. will post 13.38 EPS for the current year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.70%. This is an increase from Prudential Financial's previous quarterly dividend of $1.25. The ex-dividend date was Friday, February 16th. Prudential Financial's dividend payout ratio is presently 77.73%.

Analyst Ratings Changes

PRU has been the topic of a number of research analyst reports. TheStreet upgraded Prudential Financial from a "c+" rating to an "a-" rating in a research note on Tuesday, February 6th. Wells Fargo & Company boosted their price target on Prudential Financial from $100.00 to $106.00 and gave the stock an "underweight" rating in a research note on Thursday, April 11th. Evercore ISI boosted their price target on Prudential Financial from $104.00 to $115.00 and gave the stock an "underperform" rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. restated a "neutral" rating and set a $118.00 price target (down previously from $119.00) on shares of Prudential Financial in a research note on Wednesday, January 3rd. Finally, UBS Group boosted their price target on Prudential Financial from $108.00 to $112.00 and gave the stock a "neutral" rating in a research note on Monday, February 12th. Two equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $111.33.

Insider Transactions at Prudential Financial

In other news, SVP Timothy L. Schmidt sold 7,912 shares of the company's stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total transaction of $855,524.56. Following the completion of the transaction, the senior vice president now directly owns 14,754 shares of the company's stock, valued at approximately $1,595,350.02. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, SVP Timothy L. Schmidt sold 7,912 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total value of $855,524.56. Following the completion of the transaction, the senior vice president now directly owns 14,754 shares of the company's stock, valued at approximately $1,595,350.02. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Robert Axel sold 6,436 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total value of $719,930.96. Following the completion of the transaction, the senior vice president now directly owns 7,901 shares of the company's stock, valued at $883,805.86. The disclosure for this sale can be found here. Insiders sold a total of 29,255 shares of company stock valued at $3,215,664 in the last three months. 0.31% of the stock is currently owned by company insiders.

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.

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