Prudential Financial, Inc. (NYSE:PRU) Shares Bought by Korea Investment CORP

Korea Investment CORP increased its stake in Prudential Financial, Inc. (NYSE:PRU) by 10.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 258,936 shares of the financial services provider’s stock after buying an additional 24,342 shares during the quarter. Korea Investment CORP’s holdings in Prudential Financial were worth $30,692,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PRU. Savant Capital LLC lifted its stake in shares of Prudential Financial by 0.6% in the 4th quarter. Savant Capital LLC now owns 14,382 shares of the financial services provider’s stock worth $1,705,000 after acquiring an additional 83 shares during the period. Grove Bank & Trust raised its holdings in 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 in the last quarter. HBK Sorce Advisory LLC lifted its position in Prudential Financial by 1.0% in the fourth quarter. HBK Sorce Advisory LLC now owns 9,417 shares of the financial services provider’s stock worth $1,116,000 after purchasing an additional 91 shares during the period. Asset Dedication LLC boosted its stake in Prudential Financial by 28.4% during the 4th quarter. Asset Dedication LLC now owns 420 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 93 shares in the last quarter. Finally, RNC Capital Management LLC increased its position in shares of Prudential Financial by 3.3% during the 4th quarter. RNC Capital Management LLC now owns 2,990 shares of the financial services provider’s stock valued at $354,000 after purchasing an additional 95 shares during the period. Institutional investors own 56.83% of the company’s stock.

Analyst Ratings Changes

PRU has been the subject of several research analyst reports. Wells Fargo & Company upped their price objective on Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Keefe, Bruyette & Woods reduced their price objective on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a research report on Wednesday, February 12th. BMO Capital Markets initiated coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price on the stock. Jefferies Financial Group increased their target price on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, Barclays upped their price target on Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Prudential Financial currently has a consensus rating of “Hold” and a consensus price target of $126.15.

Prudential Financial Stock Down 3.9 %

Shares of Prudential Financial stock opened at $109.94 on Friday. The firm has a market cap of $39.36 billion, a price-to-earnings ratio of 14.72, a P/E/G ratio of 0.98 and a beta of 1.28. The stock has a 50-day simple moving average of $113.09 and a 200-day simple moving average of $118.92. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a 52-week low of $104.45 and a 52-week high of $130.55.

Prudential Financial (NYSE:PRU) last announced 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 return on equity of 15.86% and a net margin of 4.01%. On average, equities research analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.91%. 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 payout ratio is presently 72.29%.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were bought at an average cost of $28.72 per share, with a total value of $2,499,989.84. Following the transaction, the insider now directly owns 87,047 shares in the company, valued at approximately $2,499,989.84. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were 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 of the company’s stock, valued at $2,869,090.56. This 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 owned by insiders.

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.