Gotham Asset Management LLC Acquires 10,727 Shares of Prudential Financial, Inc. (NYSE:PRU)

Gotham Asset Management LLC increased its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 24.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,463 shares of the financial services provider's stock after buying an additional 10,727 shares during the quarter. Gotham Asset Management LLC's holdings in Prudential Financial were worth $6,455,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Savant Capital LLC lifted its position in shares of Prudential Financial by 0.6% during the 4th 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 during the period. Grove Bank & Trust raised its position in Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 87 shares during the last quarter. HBK Sorce Advisory LLC raised its position in Prudential Financial by 1.0% in the 4th quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider's stock valued at $1,116,000 after purchasing an additional 91 shares during the last quarter. Asset Dedication LLC raised its position in Prudential Financial by 28.4% in the 4th quarter. Asset Dedication LLC now owns 420 shares of the financial services provider's stock valued at $50,000 after purchasing an additional 93 shares during the last quarter. Finally, Altman Advisors Inc. raised its position in Prudential Financial by 0.6% in the 4th 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 last quarter. Institutional investors own 56.83% of the company's stock.

Insider Transactions at Prudential Financial

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 bought at an average cost of $28.72 per share, with a total value of $2,499,989.84. Following the completion of the transaction, the insider now directly owns 87,047 shares of the company's stock, valued at approximately $2,499,989.84. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the company's stock in a transaction dated 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 directly owns 27,072 shares of the company's stock, valued at $2,869,090.56. This represents a 18.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PRU shares. Piper Sandler cut their price objective on Prudential Financial from $110.00 to $109.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Keefe, Bruyette & Woods lowered their target price on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating for the company in a research note on Wednesday, May 7th. Wells Fargo & Company lifted their target price on Prudential Financial from $108.00 to $113.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Morgan Stanley lowered their target price 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. Finally, JPMorgan Chase & Co. lowered their target price 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. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $121.92.

Prudential Financial Trading Up 0.3%

NYSE:PRU traded up $0.37 on Friday, reaching $107.37. The company's stock had a trading volume of 1,434,144 shares, compared to its average volume of 1,620,073. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. 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 has a market cap of $38.01 billion, a PE ratio of 14.37, a PEG ratio of 0.98 and a beta of 1.07. The business's 50-day moving average price is $104.71 and its two-hundred day moving average price is $114.06.

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

Prudential Financial Announces Dividend

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

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.