State of Alaska Department of Revenue Cuts Holdings in Prudential Financial, Inc. (NYSE:PRU)

State of Alaska Department of Revenue lowered its holdings in Prudential Financial, Inc. (NYSE:PRU) by 17.6% in the 4th quarter, Holdings Channel reports. The firm owned 40,595 shares of the financial services provider’s stock after selling 8,673 shares during the period. State of Alaska Department of Revenue’s holdings in Prudential Financial were worth $4,811,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Private Wealth Management Group LLC grew its stake in shares of Prudential Financial by 119.0% in the fourth quarter. Private Wealth Management Group LLC now owns 322 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 175 shares during the period. YANKCOM Partnership purchased a new stake in Prudential Financial in the fourth quarter worth approximately $805,000. Centennial Wealth Advisory LLC grew its position in Prudential Financial by 6.4% in the 4th quarter. Centennial Wealth Advisory LLC now owns 4,297 shares of the financial services provider’s stock worth $509,000 after purchasing an additional 259 shares during the period. Choreo LLC lifted its holdings in shares of Prudential Financial by 25.1% during the 4th quarter. Choreo LLC now owns 31,954 shares of the financial services provider’s stock valued at $3,780,000 after buying an additional 6,409 shares during the period. Finally, Lion Street Advisors LLC boosted its stake in shares of Prudential Financial by 40.7% in the 4th quarter. Lion Street Advisors LLC now owns 6,943 shares of the financial services provider’s stock worth $823,000 after buying an additional 2,010 shares during the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the business’s stock in a transaction that occurred 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 completion of the acquisition, the insider now owns 4,780,293 shares in the company, valued at $133,465,780.56. This trade represents a 12.66 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is currently owned by company insiders.

Prudential Financial Stock Down 0.6 %

NYSE PRU opened at $112.80 on Friday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 12 month low of $104.02 and a 12 month high of $130.55. The stock’s 50 day moving average is $119.75 and its 200 day moving average is $120.37. The stock has a market cap of $40.16 billion, a PE ratio of 10.03, a P/E/G ratio of 1.12 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. Research analysts predict that Prudential Financial, Inc. will post 13.24 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be paid a dividend of $1.35 per share. The ex-dividend date is Tuesday, February 18th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 4.79%. Prudential Financial’s dividend payout ratio is presently 46.22%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PRU shares. Keefe, Bruyette & Woods lowered their target price on Prudential Financial from $135.00 to $129.00 and set a “market perform” rating on the stock in a report on Thursday, January 16th. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and increased their price objective for the stock from $117.00 to $140.00 in a research note on Thursday, November 14th. Barclays boosted their target price on shares of Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research report on Wednesday. Wells Fargo & Company dropped their price target on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Finally, TD Cowen upped their price objective 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 investment analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Prudential Financial currently has an average rating of “Hold” and a consensus target price of $125.77.

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.