GAMMA Investing LLC Takes $305,000 Position in Prudential Financial, Inc. (NYSE:PRU)

GAMMA Investing LLC acquired a new stake in Prudential Financial, Inc. (NYSE:PRU) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,909 shares of the financial services provider’s stock, valued at approximately $305,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PRU. Cambridge Trust Co. increased its stake in Prudential Financial by 77.2% in the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock worth $25,000 after buying an additional 105 shares during the period. Bruce G. Allen Investments LLC purchased a new position in Prudential Financial during the 4th quarter worth $26,000. Headinvest LLC purchased a new stake in shares of Prudential Financial in the 3rd quarter worth $27,000. Arlington Trust Co LLC raised its holdings in shares of Prudential Financial by 151.6% in the fourth quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 185 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new position in Prudential Financial during the 3rd quarter worth about $38,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Activity at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 7,222 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total value of $782,792.58. Following the sale, the executive vice president now directly owns 24,381 shares of the company’s stock, valued at $2,642,656.59. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Ann M. Kappler sold 7,222 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total transaction of $782,792.58. Following the transaction, the executive vice president now owns 24,381 shares in the company, valued at approximately $2,642,656.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Robert Axel sold 6,436 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total transaction of $719,930.96. Following the transaction, the senior vice president now owns 7,901 shares of the company’s stock, valued at $883,805.86. The disclosure for this sale can be found here. Insiders sold a total of 29,255 shares of company stock worth $3,215,664 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Prudential Financial Stock Up 0.6 %

Prudential Financial stock opened at $112.76 on Thursday. Prudential Financial, Inc. has a 52 week low of $77.22 and a 52 week high of $118.69. The firm has a market cap of $40.48 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 0.76 and a beta of 1.37. The business’s 50-day moving average price is $111.65 and its 200 day moving average price is $103.56. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $2.58 EPS for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.09). Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. The firm had revenue of $13.02 billion for the quarter, compared to analyst estimates of $12.99 billion. During the same period in the previous year, the business earned $2.42 EPS. Prudential Financial’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Prudential Financial, Inc. will post 13.38 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th were paid a dividend of $1.30 per share. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a dividend yield of 4.61%. The ex-dividend date of this dividend was Friday, February 16th. Prudential Financial’s dividend payout ratio is presently 77.73%.

Analysts Set New Price Targets

PRU has been the subject of a number of analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and set a $118.00 target price (down previously from $119.00) on shares of Prudential Financial in a report on Wednesday, January 3rd. Keefe, Bruyette & Woods increased their price objective on shares of Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Raymond James downgraded shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, February 9th. Morgan Stanley raised their price target on shares of Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Finally, Evercore ISI boosted their price objective on shares of Prudential Financial from $104.00 to $115.00 and gave the company an “underperform” rating in a report on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. According to MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and a consensus price target of $111.33.

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.