Tower Research Capital LLC TRC Acquires 15,249 Shares of Prudential Financial, Inc. (NYSE:PRU)

Tower Research Capital LLC TRC boosted its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 171.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,166 shares of the financial services provider's stock after purchasing an additional 15,249 shares during the quarter. Tower Research Capital LLC TRC's holdings in Prudential Financial were worth $2,864,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Transce3nd LLC acquired a new stake in Prudential Financial in the 4th quarter valued at $43,000. MML Investors Services LLC increased its stake in Prudential Financial by 3.5% during the 4th quarter. MML Investors Services LLC now owns 144,500 shares of the financial services provider's stock valued at $17,128,000 after purchasing an additional 4,829 shares in the last quarter. MetLife Investment Management LLC increased its stake in Prudential Financial by 1.5% during the 4th quarter. MetLife Investment Management LLC now owns 94,283 shares of the financial services provider's stock valued at $11,175,000 after purchasing an additional 1,415 shares in the last quarter. Natixis increased its stake in Prudential Financial by 89.1% during the 4th quarter. Natixis now owns 86,153 shares of the financial services provider's stock valued at $10,212,000 after purchasing an additional 40,593 shares in the last quarter. Finally, Norinchukin Bank The increased its stake in Prudential Financial by 10.0% during the 4th quarter. Norinchukin Bank The now owns 16,506 shares of the financial services provider's stock valued at $1,956,000 after purchasing an additional 1,504 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Stock Performance

NYSE PRU traded down $1.18 during trading on Friday, hitting $102.85. 1,276,662 shares of the company's stock traded hands, compared to its average volume of 1,609,158. The stock has a market capitalization of $36.45 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 0.98 and a beta of 1.11. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month 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 business has a 50 day moving average of $106.64 and a 200-day moving average of $116.14.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. As a group, equities research 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 given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 5.25%. This is a boost from Prudential Financial's previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, February 18th. Prudential Financial's dividend payout ratio is 72.29%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods reduced their target price on shares of Prudential Financial from $125.00 to $120.00 and set a "market perform" rating for the company in a research note on Wednesday, April 9th. BMO Capital Markets started coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 target price for the company. Piper Sandler reduced their target price on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Finally, Wells Fargo & Company reduced their target price on shares of Prudential Financial from $118.00 to $108.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. 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 company presently has an average rating of "Hold" and an average target price of $121.85.

Insider Buying and Selling

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of Prudential Financial stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total transaction of $635,880.00. Following the transaction, the executive vice president now directly owns 27,072 shares of the company's stock, valued at approximately $2,869,090.56. This trade represents a 18.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $28.72 per share, with a total value of $2,499,989.84. Following the purchase, the insider now directly owns 87,047 shares in the company, valued at $2,499,989.84. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.25% of the stock is 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.