New England Research & Management Inc. Decreases Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

New England Research & Management Inc. reduced its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 17.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,621 shares of the financial services provider’s stock after selling 555 shares during the quarter. New England Research & Management Inc.’s holdings in Prudential Financial were worth $311,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Glenmede Trust Co. NA boosted its stake in shares of Prudential Financial by 7.4% in 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 purchasing an additional 1,234 shares during the period. Avanza Fonder AB purchased a new position in shares of Prudential Financial in the fourth quarter valued at $3,423,000. Gateway Investment Advisers LLC boosted its stake in shares of Prudential Financial by 56.1% in the fourth quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider’s stock valued at $2,607,000 after purchasing an additional 7,907 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Prudential Financial by 3.9% in the third quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock valued at $50,830,000 after purchasing an additional 15,695 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in Prudential Financial by 2.3% in 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 acquiring an additional 1,765 shares in the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Stock Performance

Shares of PRU opened at $122.44 on Thursday. The firm’s 50 day moving average is $121.07 and its 200-day moving average is $120.65. The stock has a market capitalization of $43.59 billion, a P/E ratio of 10.88, a P/E/G ratio of 1.09 and a beta of 1.31. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. Prudential Financial, Inc. has a 12-month low of $100.60 and a 12-month high of $130.55.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping the consensus estimate of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The company had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. During the same period last year, the company posted $3.44 earnings per share. Equities research analysts anticipate that Prudential Financial, Inc. will post 13.24 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial’s payout ratio is 46.22%.

Analysts Set New Price Targets

Several research firms recently issued reports on PRU. Bank of America upped their price target on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Jefferies Financial Group increased their price objective on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Evercore ISI raised 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 report on Thursday, November 14th. BMO Capital Markets began coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price objective on the stock. Finally, TD Cowen increased their target price on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and an average target price of $125.31.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average cost of $27.92 per share, for a total transaction 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

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.