Prudential Financial, Inc. (NYSE:PRU) Stock Position Decreased by New York State Common Retirement Fund

New York State Common Retirement Fund cut its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 229,768 shares of the financial services provider’s stock after selling 10,000 shares during the period. New York State Common Retirement Fund owned approximately 0.06% of Prudential Financial worth $27,234,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Grove Bank & Trust raised its holdings in Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after buying an additional 87 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Prudential Financial in the third quarter worth approximately $31,000. CGC Financial Services LLC raised its holdings 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 acquiring an additional 124 shares during the period. Wingate Wealth Advisors Inc. purchased a new stake in shares of Prudential Financial in the 4th quarter valued at approximately $33,000. Finally, Quarry LP boosted its stake in Prudential Financial by 376.3% in the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 222 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PRU has been the subject of a number of research analyst reports. Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and increased their target price for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Wells Fargo & Company boosted their price target on shares of Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday. BMO Capital Markets began coverage on Prudential Financial in a report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price objective for the company. Barclays boosted their target price on Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Finally, TD Cowen raised their price target on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and a consensus target price of $125.69.

Prudential Financial Stock Down 1.5 %

Shares of Prudential Financial stock opened at $109.45 on Friday. Prudential Financial, Inc. has a 12-month low of $104.44 and a 12-month high of $130.55. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The stock has a 50 day moving average price of $116.88 and a two-hundred day moving average price of $119.62. The stock has a market capitalization of $39.18 billion, a P/E ratio of 14.65, a PEG ratio of 0.99 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data 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 return on equity of 15.86% and a net margin of 4.01%. Equities analysts expect that Prudential Financial, Inc. will post 14.34 earnings per share for the current year.

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend is Tuesday, February 18th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s payout ratio is currently 72.29%.

Insider Activity at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of Prudential Financial stock in a transaction on Monday, November 25th. The stock was purchased at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the acquisition, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.31% of the stock is owned by corporate 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.