Quantbot Technologies LP Invests $1.82 Million in Prudential Financial, Inc. (NYSE:PRU)

Quantbot Technologies LP purchased a new position in shares of Prudential Financial, Inc. (NYSE:PRU) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 15,334 shares of the financial services provider’s stock, valued at approximately $1,818,000.

A number of other large investors have also made changes to their positions in PRU. Commerce Bank increased its position in shares of Prudential Financial by 7.1% during the third quarter. Commerce Bank now owns 16,770 shares of the financial services provider’s stock worth $2,031,000 after purchasing an additional 1,114 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Prudential Financial by 133.8% in the 3rd quarter. Pacer Advisors Inc. now owns 60,713 shares of the financial services provider’s stock valued at $7,352,000 after acquiring an additional 34,749 shares during the period. Meridian Wealth Management LLC acquired a new position in shares of Prudential Financial in the 3rd quarter valued at $280,000. Great Valley Advisor Group Inc. increased its position in shares of Prudential Financial by 7.8% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 7,766 shares of the financial services provider’s stock valued at $940,000 after acquiring an additional 559 shares during the period. Finally, Cerity Partners LLC increased its position in shares of Prudential Financial by 4.0% in the 3rd quarter. Cerity Partners LLC now owns 130,778 shares of the financial services provider’s stock valued at $15,837,000 after acquiring an additional 5,011 shares during the period. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Trading Down 0.4 %

PRU stock opened at $110.35 on Monday. The company’s 50-day simple moving average is $113.57 and its 200-day simple moving average is $119.03. 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, Inc. has a 52-week low of $104.45 and a 52-week high of $130.55. The firm has a market cap of $39.51 billion, a P/E ratio of 14.77, a PEG ratio of 0.98 and a beta of 1.28.

Prudential Financial (NYSE:PRU) last issued its quarterly 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 net margin of 4.01% and a return on equity of 15.86%. As a group, equities analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

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

Insider Activity at Prudential Financial

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

Analyst Upgrades and Downgrades

PRU has been the topic of several research reports. Morgan Stanley cut their target price on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Barclays upped their target price 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. Wells Fargo & Company increased their price target on Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Keefe, Bruyette & Woods cut their price target on 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. Finally, Piper Sandler cut their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $126.15.

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.