WBI Investments Inc. Acquires 38,651 Shares of Prudential Financial, Inc. (NYSE:PRU)

WBI Investments Inc. increased its holdings in shares of Prudential Financial, Inc. (NYSE:PRUFree Report) by 1,295.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 41,634 shares of the financial services provider’s stock after acquiring an additional 38,651 shares during the period. Prudential Financial comprises 0.8% of WBI Investments Inc.’s portfolio, making the stock its 23rd biggest position. WBI Investments Inc.’s holdings in Prudential Financial were worth $3,951,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fairfield Bush & CO. bought a new stake in shares of Prudential Financial during the first quarter valued at approximately $36,000. Blair William & Co. IL raised its holdings in shares of Prudential Financial by 11.3% in the 1st quarter. Blair William & Co. IL now owns 50,600 shares of the financial services provider’s stock valued at $5,979,000 after purchasing an additional 5,126 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Prudential Financial by 6.4% in the 1st quarter. Sei Investments Co. now owns 90,235 shares of the financial services provider’s stock valued at $10,698,000 after purchasing an additional 5,452 shares in the last quarter. Candriam Luxembourg S.C.A. raised its holdings in shares of Prudential Financial by 0.7% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 47,576 shares of the financial services provider’s stock valued at $5,621,000 after purchasing an additional 326 shares in the last quarter. Finally, Baird Financial Group Inc. raised its holdings in shares of Prudential Financial by 36.4% in the 1st quarter. Baird Financial Group Inc. now owns 135,716 shares of the financial services provider’s stock valued at $16,037,000 after purchasing an additional 36,184 shares in the last quarter. 54.92% of the stock is owned by institutional investors.

Prudential Financial Stock Down 0.5 %

Shares of PRU stock opened at $105.00 on Monday. The stock’s 50-day simple moving average is $103.50 and its 200-day simple moving average is $97.54. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.07 and a current ratio of 0.13. The firm has a market capitalization of $37.91 billion, a PE ratio of 15.78, a P/E/G ratio of 0.67 and a beta of 1.37. Prudential Financial, Inc. has a fifty-two week low of $75.37 and a fifty-two week high of $109.63.

Prudential Financial (NYSE:PRUGet Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.09). The firm had revenue of $13.02 billion during the quarter, compared to analyst estimates of $12.99 billion. Prudential Financial had a net margin of 4.89% and a return on equity of 14.52%. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.42 earnings per share. Equities analysts expect that Prudential Financial, Inc. will post 13.47 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 14th. Shareholders of record on Tuesday, February 20th will be given a dividend of $1.30 per share. This is an increase from Prudential Financial’s previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a yield of 4.95%. The ex-dividend date is Friday, February 16th. Prudential Financial’s dividend payout ratio (DPR) is currently 74.74%.

Wall Street Analyst Weigh In

Several research firms have recently commented on PRU. Morgan Stanley boosted their price target on shares of Prudential Financial from $105.00 to $109.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. UBS Group lifted their price objective on shares of Prudential Financial from $97.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. TheStreet upgraded shares of Prudential Financial from a “c+” rating to an “a-” rating in a research note on Tuesday, February 6th. Raymond James lowered shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $118.00 price objective (down previously from $119.00) on shares of Prudential Financial in a research note on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating and ten have given a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $105.20.

Get Our Latest Stock Analysis on PRU

Insiders Place Their Bets

In related news, CFO Kenneth Tanji sold 23,124 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $105.14, for a total transaction of $2,431,257.36. Following the sale, the chief financial officer now owns 47,155 shares in the company, valued at $4,957,876.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, SVP Timothy L. Schmidt sold 8,281 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $94.49, for a total transaction of $782,471.69. Following the completion of the transaction, the senior vice president now owns 14,621 shares of the company’s stock, valued at approximately $1,381,538.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kenneth Tanji sold 23,124 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $105.14, for a total transaction of $2,431,257.36. Following the completion of the transaction, the chief financial officer now directly owns 47,155 shares of the company’s stock, valued at approximately $4,957,876.70. The disclosure for this sale can be found here. 0.37% of the stock is owned by insiders.

Prudential Financial Profile

(Free Report)

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 Annuities, Individual Life, Assurance IQ, and International Businesses segments.

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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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