Dynamic Technology Lab Private Ltd Increases Stake in Prudential Financial, Inc. (NYSE:PRU)

Dynamic Technology Lab Private Ltd boosted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 261.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,470 shares of the financial services provider’s stock after purchasing an additional 6,129 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Prudential Financial were worth $1,004,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PRU. Grove Bank & Trust lifted its stake in shares of 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 during the last quarter. Centricity Wealth Management LLC bought a new stake in Prudential Financial in the fourth quarter valued at approximately $29,000. CGC Financial Services LLC boosted its stake in shares of Prudential Financial by 82.1% during 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 during the period. Wingate Wealth Advisors Inc. bought a new position in shares of Prudential Financial in the fourth quarter worth approximately $33,000. Finally, Quarry LP raised 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 valued at $34,000 after buying an additional 222 shares during the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Prudential Financial

In related news, EVP Andrew F. Sullivan sold 6,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the sale, the executive vice president now owns 27,072 shares in the company, valued at approximately $2,869,090.56. This 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 can be accessed through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were purchased at an average price of $28.72 per share, with a total value of $2,499,989.84. Following the completion of the purchase, the insider now owns 87,047 shares in the company, valued at approximately $2,499,989.84. This trade represents 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 insiders.

Wall Street Analysts Forecast Growth

PRU has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. BMO Capital Markets started coverage on Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price on the stock. Barclays upped their price target on Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. JPMorgan Chase & Co. cut their price objective on Prudential Financial from $128.00 to $126.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, UBS Group decreased their target price on Prudential Financial from $130.00 to $122.00 and set a “neutral” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $126.08.

Prudential Financial Stock Down 8.1 %

Shares of Prudential Financial stock opened at $96.27 on Friday. Prudential Financial, Inc. has a 1 year low of $95.73 and a 1 year high of $130.55. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. The company has a 50-day moving average of $112.03 and a 200 day moving average of $118.63. The firm has a market cap of $34.12 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 0.98 and a beta of 1.11.

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

Prudential Financial Increases Dividend

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

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.