Headlands Technologies LLC Makes New $263,000 Investment in Prudential Financial, Inc. (NYSE:PRU)

Headlands Technologies LLC acquired a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,216 shares of the financial services provider’s stock, valued at approximately $263,000.

A number of other hedge funds have also recently bought and sold shares of PRU. Grove Bank & Trust boosted its holdings in shares of Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 87 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in Prudential Financial in the 4th quarter worth about $29,000. CGC Financial Services LLC grew its holdings in Prudential Financial by 82.1% in the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock valued at $33,000 after buying an additional 124 shares during the period. Wingate Wealth Advisors Inc. acquired a new position in shares of Prudential Financial during the 4th quarter valued at about $33,000. Finally, Quarry LP lifted its holdings in shares of Prudential Financial by 376.3% during the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 222 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Trading Down 8.1 %

PRU opened at $96.27 on Friday. The firm’s 50 day moving average is $112.03 and its 200-day moving average is $118.63. Prudential Financial, Inc. has a 52-week low of $95.73 and a 52-week 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 firm has a market capitalization of $34.46 billion, a P/E ratio of 12.89, a P/E/G ratio of 0.98 and a beta of 1.28.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results 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%. 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. Shareholders of record on Tuesday, February 18th were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 5.61%. The ex-dividend date of this dividend was Tuesday, February 18th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio (DPR) is 72.29%.

Analyst Ratings Changes

PRU has been the subject of several research analyst reports. Piper Sandler dropped their price target on shares of Prudential Financial from $124.00 to $122.00 and set a “neutral” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. cut their target price on Prudential Financial from $128.00 to $126.00 and set a “neutral” rating on the stock in a research report on Wednesday. Morgan Stanley reduced their target price on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Wells Fargo & Company raised their price objective on Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. Finally, BMO Capital Markets began coverage on Prudential Financial in a report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 target price for the company. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $126.08.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $28.72 per share, with a total value of $2,499,989.84. Following the transaction, the insider now owns 87,047 shares of the company’s stock, valued at approximately $2,499,989.84. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the transaction, the executive vice president now directly owns 27,072 shares in the company, valued at $2,869,090.56. The trade was 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 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.