Westbourne Investments Inc. Makes New Investment in Prudential Financial, Inc. (NYSE:PRU)

Westbourne Investments Inc. bought a new position 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 and Exchange Commission (SEC). The institutional investor bought 4,381 shares of the financial services provider's stock, valued at approximately $519,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PRU. Grove Bank & Trust boosted its position in Prudential Financial by 65.9% during the fourth 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 in the last quarter. Centricity Wealth Management LLC purchased a new position in shares of Prudential Financial in the 4th quarter worth approximately $29,000. CGC Financial Services LLC raised its stake in shares of Prudential Financial by 82.1% during the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider's stock worth $33,000 after acquiring an additional 124 shares in the last quarter. Wingate Wealth Advisors Inc. acquired a new stake in Prudential Financial in the fourth quarter valued at approximately $33,000. Finally, Hopwood Financial Services Inc. purchased a new position in Prudential Financial in the fourth quarter worth $34,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Wells Fargo & Company boosted their price target on Prudential Financial from $108.00 to $113.00 and gave the stock an "equal weight" rating in a research note on Tuesday. UBS Group lowered their target price on shares of Prudential Financial from $130.00 to $122.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. BMO Capital Markets assumed coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 price target for the company. Finally, Morgan Stanley cut their target price on Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating on the stock in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $122.15.

Prudential Financial Stock Performance

Shares of NYSE PRU traded down $0.38 during midday trading on Tuesday, reaching $102.29. 607,846 shares of the stock were exchanged, compared to its average volume of 1,865,638. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The firm has a 50-day simple moving average of $105.70 and a two-hundred day simple moving average of $115.17. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55. The firm has a market cap of $36.25 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 0.98 and a beta of 1.07.

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

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of the stock in a transaction 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 $2,869,090.56. This trade represents a 18.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of the business's stock in a transaction on Tuesday, March 25th. The shares were purchased at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the completion of the purchase, the insider now owns 139,987 shares in the company, valued at $3,992,429.24. This represents a 60.18 % increase in their position. The disclosure for this purchase can be found here. 0.25% of the stock is 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.