Twin Capital Management Inc. Has $800,000 Position in Prudential Financial, Inc. (NYSE:PRU)

Twin Capital Management Inc. decreased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 3.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,752 shares of the financial services provider’s stock after selling 229 shares during the quarter. Twin Capital Management Inc.’s holdings in Prudential Financial were worth $800,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRU. Polymer Capital Management US LLC bought a new stake in shares of Prudential Financial during the 4th quarter worth about $515,000. Cerity Partners LLC lifted its position in Prudential Financial by 4.1% during the fourth quarter. Cerity Partners LLC now owns 136,175 shares of the financial services provider’s stock worth $16,189,000 after acquiring an additional 5,397 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Prudential Financial by 5.5% during the fourth quarter. Federated Hermes Inc. now owns 1,090,879 shares of the financial services provider’s stock worth $129,302,000 after acquiring an additional 57,290 shares during the period. Russell Investments Group Ltd. grew its position in shares of Prudential Financial by 18.7% in the fourth quarter. Russell Investments Group Ltd. now owns 284,682 shares of the financial services provider’s stock valued at $33,724,000 after purchasing an additional 44,882 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of Prudential Financial by 4.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 987,811 shares of the financial services provider’s stock worth $117,085,000 after purchasing an additional 37,848 shares during the period. 56.83% of the stock is owned by institutional investors.

Prudential Financial Price Performance

Prudential Financial stock opened at $95.70 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55. The stock has a market capitalization of $33.92 billion, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 0.98 and a beta of 1.11. The stock has a fifty day moving average of $111.53 and a 200-day moving average of $118.44.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. On average, sell-side analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were issued a dividend of $1.35 per share. The ex-dividend date was Tuesday, February 18th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 5.64%. Prudential Financial’s dividend payout ratio is 72.29%.

Analyst Ratings Changes

PRU has been the topic of a number of research reports. Jefferies Financial Group upped their price objective on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Barclays upped their price target on shares of Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Wells Fargo & Company boosted their price objective on shares of Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Morgan Stanley lowered their target price on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Finally, UBS Group cut their price target on Prudential Financial from $130.00 to $122.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $126.08.

Insider Activity at Prudential Financial

In other news, EVP Andrew F. Sullivan sold 6,000 shares of the firm’s 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 completion of the transaction, the executive vice president now 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of Prudential Financial stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average cost of $28.72 per share, for a total transaction of $2,499,989.84. Following the purchase, the insider now owns 87,047 shares of the company’s stock, valued at $2,499,989.84. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by company insiders.

About Prudential Financial

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.