Integrated Quantitative Investments LLC Takes Position in Prudential Financial, Inc. (NYSE:PRU)

Integrated Quantitative Investments LLC bought a new position in shares of Prudential Financial, Inc. (NYSE:PRU) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,707 shares of the financial services provider’s stock, valued at approximately $321,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PRU. Grove Bank & Trust grew its position in Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 87 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in shares of Prudential Financial in the fourth quarter valued at approximately $29,000. CGC Financial Services LLC grew its holdings in shares of Prudential Financial by 82.1% in the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 124 shares in the last quarter. Wingate Wealth Advisors Inc. purchased a new stake in Prudential Financial during the 4th quarter worth approximately $33,000. Finally, Quarry LP lifted its holdings in Prudential Financial by 376.3% during the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after buying an additional 222 shares in the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $96.27 on Friday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The stock has a market cap of $34.12 billion, a P/E ratio of 12.89, a P/E/G ratio of 0.98 and a beta of 1.11. The stock has a 50 day moving average of $112.03 and a two-hundred day moving average of $118.63. Prudential Financial, Inc. has a twelve month low of $95.73 and a twelve month high of $130.55.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing the consensus estimate 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, research analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The company 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. The ex-dividend date was Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a yield of 5.61%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio (DPR) is presently 72.29%.

Analysts Set New Price Targets

PRU has been the topic of a number of recent research reports. UBS Group cut their target price on shares of Prudential Financial from $130.00 to $122.00 and set a “neutral” rating on the stock in a research note on Wednesday. Jefferies Financial Group raised their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. BMO Capital Markets assumed coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price objective for the company. Wells Fargo & Company increased their target price on Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Finally, Piper Sandler lowered their price objective on Prudential Financial from $124.00 to $122.00 and set a “neutral” rating for the company in a research report on Wednesday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Prudential Financial has an average rating of “Hold” and an average target price of $126.08.

Insider Buying and Selling at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of Prudential Financial stock in a transaction dated Tuesday, March 25th. The stock was bought at an average cost of $28.52 per share, for a total transaction of $1,500,009.40. Following the transaction, the insider now owns 139,987 shares in the company, valued at approximately $3,992,429.24. The trade was a 60.18 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total value of $635,880.00. Following the sale, the executive vice president now owns 27,072 shares in the company, valued at approximately $2,869,090.56. The trade was a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate 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.