Prana Capital Management LP Buys Shares of 217,459 Prudential Financial, Inc. (NYSE:PRU)

Prana Capital Management LP acquired a new stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 217,459 shares of the financial services provider's stock, valued at approximately $25,775,000. Prudential Financial accounts for approximately 1.2% of Prana Capital Management LP's investment portfolio, making the stock its 23rd biggest position. Prana Capital Management LP owned 0.06% of Prudential Financial as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PRU. Barclays PLC boosted its holdings in shares of Prudential Financial by 11.0% in the third quarter. Barclays PLC now owns 1,062,776 shares of the financial services provider's stock valued at $128,700,000 after buying an additional 105,089 shares during the period. Czech National Bank boosted its holdings in shares of Prudential Financial by 6.1% in the fourth quarter. Czech National Bank now owns 77,188 shares of the financial services provider's stock valued at $9,149,000 after buying an additional 4,464 shares during the period. Capital Investment Advisors LLC boosted its holdings in Prudential Financial by 9.7% during the fourth quarter. Capital Investment Advisors LLC now owns 3,736 shares of the financial services provider's stock worth $443,000 after purchasing an additional 331 shares during the last quarter. Wedmont Private Capital boosted its holdings in Prudential Financial by 3.0% during the fourth quarter. Wedmont Private Capital now owns 3,622 shares of the financial services provider's stock worth $415,000 after purchasing an additional 106 shares during the last quarter. Finally, Cooper Financial Group boosted its holdings in Prudential Financial by 19.4% during the fourth quarter. Cooper Financial Group now owns 2,028 shares of the financial services provider's stock worth $240,000 after purchasing an additional 329 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.

Wall Street Analysts Forecast Growth

PRU has been the subject of several recent research reports. Keefe, Bruyette & Woods reduced their target price on shares of Prudential Financial from $120.00 to $117.00 and set a "market perform" rating for the company in a report on Wednesday, May 7th. Barclays cut 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 note on Friday, April 11th. Morgan Stanley cut their price target on shares of 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. BMO Capital Markets initiated coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 price target for the company. Finally, Wells Fargo & Company increased their price target on shares of Prudential Financial from $108.00 to $113.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $121.92.

Prudential Financial Stock Performance

Prudential Financial stock traded up $0.37 during mid-day trading on Friday, reaching $107.37. The company's stock had a trading volume of 1,434,144 shares, compared to its average volume of 1,619,649. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55. The company has a market capitalization of $38.01 billion, a P/E 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 quick ratio of 0.16 and a current ratio of 0.16. The firm's fifty day moving average price is $104.71 and its two-hundred day moving average price is $113.97.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $13.61 billion during the quarter, compared to analyst estimates of $14.76 billion. Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. The business's revenue for the quarter was down 38.2% on a year-over-year basis. During the same period in the previous year, the business earned $3.12 EPS. Sell-side analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date of this dividend is Tuesday, May 20th. Prudential Financial's dividend payout ratio is currently 85.58%.

Insider Transactions at Prudential Financial

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

Prudential Financial 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.