TCG Advisory Services LLC Purchases New Stake in Prudential Financial, Inc. (NYSE:PRU)

TCG Advisory Services LLC purchased a new position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 59,020 shares of the financial services provider's stock, valued at approximately $6,121,000.

Other large investors have also modified their holdings of the company. Cambridge Trust Co. raised its stake in shares of Prudential Financial by 77.2% during 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 during the last quarter. Bruce G. Allen Investments LLC purchased a new stake in shares of Prudential Financial during the fourth quarter worth approximately $26,000. Headinvest LLC purchased a new stake in shares of Prudential Financial during the third quarter worth approximately $27,000. Arlington Trust Co LLC raised its position in Prudential Financial by 151.6% in the fourth quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider's stock worth $32,000 after acquiring an additional 185 shares in the last quarter. Finally, Janiczek Wealth Management LLC raised its position in Prudential Financial by 49.6% in the fourth quarter. Janiczek Wealth Management LLC now owns 374 shares of the financial services provider's stock worth $39,000 after acquiring an additional 124 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company's stock.

Insider Transactions at Prudential Financial

In other news, SVP Timothy L. Schmidt sold 7,912 shares of the firm's stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $108.13, for a total value of $855,524.56. Following the transaction, the senior vice president now directly owns 14,754 shares in the company, valued at approximately $1,595,350.02. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Andrew F. Sullivan sold 7,685 shares of the firm's stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total transaction of $857,415.45. Following the sale, the executive vice president now directly owns 13,691 shares in the company, valued at approximately $1,527,504.87. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Timothy L. Schmidt sold 7,912 shares of the firm's stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $108.13, for a total value of $855,524.56. Following the sale, the senior vice president now owns 14,754 shares in the company, valued at $1,595,350.02. The disclosure for this sale can be found here. Insiders have sold a total of 29,255 shares of company stock worth $3,215,664 in the last three months. 0.31% of the stock is currently owned by company insiders.

Prudential Financial Trading Up 0.9 %

NYSE PRU traded up $0.97 during trading hours on Friday, hitting $112.26. 1,028,916 shares of the company's stock were exchanged, compared to its average volume of 1,460,168. The business's 50 day moving average is $112.14 and its 200-day moving average is $104.45. Prudential Financial, Inc. has a 12-month low of $77.22 and a 12-month high of $118.69. The firm has a market capitalization of $40.30 billion, a P/E ratio of 19.09, a price-to-earnings-growth ratio of 0.83 and a beta of 1.35. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.13 and a current ratio of 0.13.

Prudential Financial (NYSE:PRU - Get Free Report) last released its earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share for the quarter, missing the consensus estimate of $3.16 by ($0.04). Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The business had revenue of $15.01 billion for the quarter, compared to analysts' expectations of $14.50 billion. During the same quarter last year, the company posted $2.66 earnings per share. The business's quarterly revenue was up 69.9% compared to the same quarter last year. As a group, analysts anticipate that Prudential Financial, Inc. will post 13.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.63%. 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 (DPR) is 88.44%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Evercore ISI increased their price objective on Prudential Financial from $115.00 to $116.00 and gave the stock an "underperform" rating in a research report on Thursday, April 25th. Raymond James lowered Prudential Financial from a "strong-buy" rating to a "market perform" rating in a report on Friday, February 9th. UBS Group upped their target price on Prudential Financial from $108.00 to $112.00 and gave the company a "neutral" rating in a report on Monday, February 12th. TheStreet raised Prudential Financial from a "c+" rating to an "a-" rating in a report on Tuesday, February 6th. Finally, Wells Fargo & Company upped their target price on Prudential Financial from $100.00 to $106.00 and gave the company an "underweight" rating in a report on Thursday, April 11th. Two research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $111.42.

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.