Beach Investment Counsel Inc. PA Lowers Position in Prudential Financial, Inc. (NYSE:PRU)

Beach Investment Counsel Inc. PA lessened its holdings in Prudential Financial, Inc. (NYSE:PRU) by 13.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,900 shares of the financial services provider’s stock after selling 300 shares during the period. Beach Investment Counsel Inc. PA’s holdings in Prudential Financial were worth $225,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. International Assets Investment Management LLC raised its stake in shares of Prudential Financial by 4,130.8% during the 3rd quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock valued at $157,219,000 after purchasing an additional 1,267,571 shares during the period. Nordea Investment Management AB increased its position in shares of Prudential Financial by 176.8% during the fourth quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider’s stock valued at $123,804,000 after buying an additional 665,180 shares during the period. FMR LLC lifted its holdings in shares of Prudential Financial by 31.3% in the third quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock worth $174,903,000 after buying an additional 344,254 shares in the last quarter. Geode Capital Management LLC grew its stake in Prudential Financial by 4.1% during the third quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock valued at $1,047,872,000 after acquiring an additional 341,787 shares in the last quarter. Finally, Capital Advisors Inc. OK bought a new stake in Prudential Financial during the 3rd quarter worth approximately $30,226,000. 56.83% of the stock is currently owned by institutional investors.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the business’s stock in a transaction on Monday, November 25th. The shares were bought at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the transaction, the insider now directly owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. The trade was a 12.66 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PRU shares. Barclays boosted their price target on shares of Prudential Financial from $127.00 to $128.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods cut their target price on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a research report on Thursday, January 16th. BMO Capital Markets began coverage on Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price for the company. Wells Fargo & Company decreased their target price on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Finally, Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price target for the stock from $117.00 to $140.00 in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $125.31.

Prudential Financial Stock Down 0.4 %

PRU opened at $118.38 on Tuesday. Prudential Financial, Inc. has a twelve month low of $101.72 and a twelve month high of $130.55. The firm has a 50 day moving average price of $120.80 and a 200-day moving average price of $120.55. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $42.14 billion, a price-to-earnings ratio of 10.54, a PEG ratio of 1.12 and a beta of 1.31.

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.