Dynamic Technology Lab Private Ltd Buys 6,129 Shares of Prudential Financial, Inc. (NYSE:PRU)

Dynamic Technology Lab Private Ltd grew its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 261.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,470 shares of the financial services provider’s stock after buying an additional 6,129 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Prudential Financial were worth $1,004,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PRU. Avanza Fonder AB purchased a new position in shares of Prudential Financial in the fourth quarter valued at about $3,423,000. Gateway Investment Advisers LLC boosted its stake 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 period. Principal Financial Group Inc. raised its position in shares of 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 valued at $50,830,000 after buying an additional 15,695 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of 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 worth $9,597,000 after acquiring an additional 1,765 shares during the last quarter. Finally, HighTower Advisors LLC grew its stake in Prudential Financial by 18.7% during the third quarter. HighTower Advisors LLC now owns 69,542 shares of the financial services provider’s stock valued at $8,395,000 after acquiring an additional 10,964 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Trading Down 8.1 %

Shares of NYSE PRU opened at $96.27 on Friday. Prudential Financial, Inc. has a twelve month low of $95.73 and a twelve month high of $130.55. The firm has a market cap of $34.12 billion, a PE ratio of 12.89, a price-to-earnings-growth ratio of 0.98 and a beta of 1.11. The business has a fifty day simple moving average of $112.03 and a two-hundred day simple moving average of $118.63. 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 (NYSE:PRU) last released its quarterly earnings data 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%. Analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 5.61%. The ex-dividend date was Tuesday, February 18th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio (DPR) is 72.29%.

Insider Buying and Selling at Prudential Financial

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

Analysts Set New Price Targets

PRU has been the subject of a number of analyst reports. UBS Group lowered their price target on shares of Prudential Financial from $130.00 to $122.00 and set a “neutral” rating for the company in a report on Wednesday. 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. Wells Fargo & Company raised 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. BMO Capital Markets started coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price on the stock. Finally, Barclays lifted their price target on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Prudential Financial currently has a consensus rating of “Hold” and an average target price of $126.08.

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.