Louisiana State Employees Retirement System Invests $2.26 Million in Prudential Financial, Inc. (NYSE:PRU)

Louisiana State Employees Retirement System acquired a new position in shares of Prudential Financial, Inc. (NYSE:PRU) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 21,800 shares of the financial services provider’s stock, valued at approximately $2,261,000.

A number of other hedge funds have also recently added to or reduced their stakes in PRU. Sanctuary Wealth Management L.L.C. bought a new stake in Prudential Financial during the 4th quarter worth $25,000. Bruce G. Allen Investments LLC acquired a new position in Prudential Financial in the 4th quarter valued at approximately $26,000. Headinvest LLC bought a new position in shares of Prudential Financial during the third quarter valued at $27,000. Fairfield Bush & CO. acquired a new position in shares of Prudential Financial during the first quarter worth $36,000. Finally, Arlington Trust Co LLC grew its stake in shares of Prudential Financial by 151.6% in the fourth quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 185 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Trading Down 0.7 %

NYSE PRU opened at $107.59 on Wednesday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $38.62 billion, a P/E ratio of 16.08, a PEG ratio of 0.73 and a beta of 1.37. The business has a fifty day simple moving average of $111.23 and a 200 day simple moving average of $102.87. Prudential Financial, Inc. has a 12 month low of $77.22 and a 12 month high of $118.69.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $2.58 EPS for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.09). The business had revenue of $13.02 billion for the quarter, compared to the consensus estimate of $12.99 billion. Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. The business’s revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.42 earnings per share. On average, analysts predict that Prudential Financial, Inc. will post 13.4 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Tuesday, February 20th were paid a $1.30 dividend. The ex-dividend date was Friday, February 16th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a dividend yield of 4.83%. Prudential Financial’s payout ratio is presently 77.73%.

Insider Activity

In related news, EVP Ann M. Kappler sold 7,222 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $108.39, for a total value of $782,792.58. Following the completion of the transaction, the executive vice president now directly owns 24,381 shares of the company’s stock, valued at approximately $2,642,656.59. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Andrew F. Sullivan sold 7,685 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $111.57, for a total transaction of $857,415.45. Following the completion of the transaction, the executive vice president now owns 13,691 shares of the company’s stock, valued at $1,527,504.87. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Ann M. Kappler sold 7,222 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total transaction of $782,792.58. Following the completion of the sale, the executive vice president now owns 24,381 shares in the company, valued at $2,642,656.59. The disclosure for this sale can be found here. Insiders have sold 29,255 shares of company stock valued at $3,215,664 in the last 90 days. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Morgan Stanley lifted their target price on Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday. UBS Group lifted their target price on shares of Prudential Financial from $108.00 to $112.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $118.00 price target (down previously from $119.00) on shares of Prudential Financial in a research report on Wednesday, January 3rd. Wells Fargo & Company boosted their price objective on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research note on Thursday, April 11th. Finally, Piper Sandler raised their target price on Prudential Financial from $114.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Two analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $111.33.

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.