Xponance Inc. Boosts Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Xponance Inc. lifted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,993 shares of the financial services provider’s stock after buying an additional 1,236 shares during the period. Xponance Inc.’s holdings in Prudential Financial were worth $4,977,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PRU. Cambridge Trust Co. lifted its holdings in shares of Prudential Financial by 77.2% in the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 105 shares during the last quarter. Sanctuary Wealth Management L.L.C. purchased a new position in Prudential Financial in the 4th quarter worth $25,000. Bruce G. Allen Investments LLC purchased a new stake in Prudential Financial during the fourth quarter valued at about $26,000. Headinvest LLC bought a new position in shares of Prudential Financial during the third quarter valued at about $27,000. Finally, Pacific Center for Financial Services purchased a new position in shares of Prudential Financial in the first quarter worth about $27,000. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

PRU opened at $110.61 on Friday. 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 company has a market cap of $39.71 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 0.75 and a beta of 1.37. The stock has a fifty day simple moving average of $111.30 and a two-hundred day simple moving average of $103.14. 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.67 by ($0.09). The business had revenue of $13.02 billion during 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 firm’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.42 earnings per share. Research analysts predict that Prudential Financial, Inc. will post 13.38 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Tuesday, February 20th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date of this dividend was Friday, February 16th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.25. Prudential Financial’s dividend payout ratio (DPR) is 77.73%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PRU. Morgan Stanley raised their price target on Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Evercore ISI lifted their target price on shares of Prudential Financial from $104.00 to $115.00 and gave the stock an “underperform” rating in a research note on Thursday, April 11th. UBS Group increased their price target on shares of Prudential Financial from $108.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Piper Sandler upped their price objective on shares of Prudential Financial from $114.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Finally, Keefe, Bruyette & Woods raised their target price on Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $111.33.

Insider Activity

In related news, EVP Ann M. Kappler sold 7,222 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $108.39, for a total value of $782,792.58. Following the transaction, the executive vice president now owns 24,381 shares in the company, valued at approximately $2,642,656.59. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Robert Axel sold 6,436 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total value of $719,930.96. Following the completion of the transaction, the senior vice president now owns 7,901 shares in the company, valued at $883,805.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ann M. Kappler sold 7,222 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 24,381 shares in the company, valued at $2,642,656.59. The disclosure for this sale can be found here. Insiders sold 29,255 shares of company stock worth $3,215,664 over the last three months. 0.31% of the stock is currently owned by corporate insiders.

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.