Prudential Financial, Inc. (NYSE:PRU) Shares Acquired by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC lifted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 62,313 shares of the financial services provider’s stock after purchasing an additional 1,618 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Prudential Financial were worth $7,386,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Grove Bank & Trust grew its position in Prudential Financial by 65.9% in the fourth 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 last quarter. Centricity Wealth Management LLC acquired a new position in Prudential Financial in the fourth quarter worth approximately $29,000. CGC Financial Services LLC grew its position in Prudential Financial by 82.1% in the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after buying an additional 124 shares during the last quarter. Wingate Wealth Advisors Inc. acquired a new position in Prudential Financial in the fourth quarter worth approximately $33,000. Finally, Quarry LP grew its position in Prudential Financial by 376.3% in the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after buying an additional 222 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

PRU has been the topic of several recent research reports. Jefferies Financial Group lifted their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Barclays lifted their price objective on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Keefe, Bruyette & Woods lowered their price objective on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 12th. Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Finally, TD Cowen lifted their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $126.15.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of Prudential Financial stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of $28.72 per share, with a total value of $2,499,989.84. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of Prudential Financial 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 transaction, the executive vice president now owns 27,072 shares in the company, valued at $2,869,090.56. This trade represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Prudential Financial Trading Down 0.4 %

Shares of NYSE:PRU opened at $110.35 on Friday. The firm has a fifty day moving average of $113.57 and a two-hundred day moving average of $119.05. The firm has a market capitalization of $39.51 billion, a P/E ratio of 14.77, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28. Prudential Financial, Inc. has a 12-month low of $104.45 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.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. On average, equities analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.89%. The ex-dividend date was Tuesday, February 18th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s payout ratio is presently 72.29%.

Prudential Financial Company 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.