Two Sigma Securities LLC Reduces Holdings in Prudential Financial, Inc. (NYSE:PRU)

Two Sigma Securities LLC lowered its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 63.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,099 shares of the financial services provider's stock after selling 5,281 shares during the period. Two Sigma Securities LLC's holdings in Prudential Financial were worth $367,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Avanza Fonder AB acquired a new position in shares of Prudential Financial during the fourth quarter valued at about $3,423,000. Gateway Investment Advisers LLC raised its holdings in shares of Prudential Financial by 56.1% during the fourth quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider's stock valued at $2,607,000 after purchasing an additional 7,907 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Prudential Financial by 3.9% during the third quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider's stock valued at $50,830,000 after purchasing an additional 15,695 shares during the period. Asset Allocation & Management Company LLC acquired a new position in shares of Prudential Financial during the fourth quarter valued at about $209,000. Finally, Czech National Bank raised its holdings in shares of Prudential Financial by 6.1% during the fourth quarter. Czech National Bank now owns 77,188 shares of the financial services provider's stock valued at $9,149,000 after purchasing an additional 4,464 shares during the period. Institutional investors and hedge funds own 56.83% of the company's stock.

Prudential Financial Stock Performance

Shares of Prudential Financial stock traded down $1.42 during trading hours on Wednesday, reaching $102.61. The company had a trading volume of 2,472,251 shares, compared to its average volume of 1,606,516. The firm has a market cap of $36.37 billion, a PE ratio of 13.74, a price-to-earnings-growth 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. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. The business has a fifty day simple moving average of $106.34 and a 200 day simple moving average of $115.92.

Prudential Financial (NYSE:PRU - Get Free Report) last released 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 net margin of 4.01% and a return on equity of 15.86%. On average, analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.26%. This is a positive change 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 Upgrades and Downgrades

A number of research firms recently weighed in on PRU. JPMorgan Chase & Co. lowered their target price on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Wells Fargo & Company lowered their target price on shares of Prudential Financial from $118.00 to $108.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. Barclays lowered their target price on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. BMO Capital Markets began coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 target price on the stock. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Prudential Financial from $125.00 to $120.00 and set a "market perform" rating on the stock in a report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $121.85.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were acquired at an average cost of $28.72 per share, for a total transaction of $2,499,989.84. Following the purchase, the insider now directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 completion of the transaction, the executive vice president now owns 27,072 shares in the company, 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 currently owned by corporate 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.