Envestnet Portfolio Solutions Inc. Has $1.76 Million Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Envestnet Portfolio Solutions Inc. lifted its stake in Prudential Financial, Inc. (NYSE:PRU) by 15.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,861 shares of the financial services provider’s stock after acquiring an additional 1,948 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Prudential Financial were worth $1,761,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PRU. Glenmede Trust Co. NA raised its holdings in Prudential Financial by 7.4% during the third quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock valued at $2,176,000 after buying an additional 1,234 shares in the last quarter. Avanza Fonder AB bought a new position in shares of Prudential Financial in the 4th quarter valued at approximately $3,423,000. Gateway Investment Advisers LLC lifted its holdings in Prudential Financial by 56.1% in the 4th quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider’s stock worth $2,607,000 after purchasing an additional 7,907 shares during the last quarter. Principal Financial Group Inc. boosted its position in Prudential Financial by 3.9% during the third quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock worth $50,830,000 after purchasing an additional 15,695 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in Prudential Financial by 2.3% during the third quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock valued at $9,597,000 after purchasing an additional 1,765 shares during the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prudential Financial

In other news, EVP Andrew F. Sullivan sold 6,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total value of $635,880.00. Following the completion of the sale, the executive vice president now directly owns 27,072 shares in the company, valued at approximately $2,869,090.56. This trade represents a 18.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of Prudential Financial stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average price of $28.72 per share, for a total transaction of $2,499,989.84. Following the transaction, the insider now owns 87,047 shares in the company, valued at $2,499,989.84. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.31% of the company’s stock.

Prudential Financial Price Performance

Shares of Prudential Financial stock opened at $110.35 on Friday. The firm has a market cap 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. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a twelve month low of $104.45 and a twelve month high of $130.55. The firm’s 50-day simple moving average is $113.57 and its 200-day simple moving average is $119.05.

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 return on equity of 15.86% and a net margin of 4.01%. As a group, research analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.89%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date was Tuesday, February 18th. Prudential Financial’s dividend payout ratio (DPR) is currently 72.29%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. BMO Capital Markets began coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 price objective for the company. Barclays raised their price target on Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Jefferies Financial Group increased their target price on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Morgan Stanley lowered 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. Finally, Wells Fargo & Company increased their price objective on Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and an average price target of $126.15.

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.