Bailard Inc. Raises Holdings in Prudential Financial, Inc. (NYSE:PRU)

Bailard Inc. boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 11.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,862 shares of the financial services provider’s stock after buying an additional 998 shares during the quarter. Bailard Inc.’s holdings in Prudential Financial were worth $1,023,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PRU. Cambridge Trust Co. grew its holdings in Prudential Financial by 77.2% in the fourth quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 105 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new position in Prudential Financial in the fourth quarter worth $26,000. Headinvest LLC purchased a new position in Prudential Financial in the third quarter worth $27,000. Arlington Trust Co LLC grew its holdings in Prudential Financial by 151.6% in the fourth quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 185 shares during the last quarter. Finally, Janiczek Wealth Management LLC grew its holdings in Prudential Financial by 49.6% in the fourth quarter. Janiczek Wealth Management LLC now owns 374 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 124 shares during the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Robert Axel sold 6,436 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total transaction of $719,930.96. Following the completion of the sale, the senior vice president now owns 7,901 shares of the company’s stock, valued at approximately $883,805.86. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Ann M. Kappler sold 7,222 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $108.39, for a total transaction of $782,792.58. Following the completion of the sale, the executive vice president now owns 24,381 shares of the company’s stock, valued at approximately $2,642,656.59. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Robert Axel sold 6,436 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total transaction of $719,930.96. Following the completion of the sale, the senior vice president now directly owns 7,901 shares of the company’s stock, valued at approximately $883,805.86. The disclosure for this sale can be found here. Insiders sold a total of 29,255 shares of company stock worth $3,215,664 in the last 90 days. Insiders own 0.31% of the company’s stock.

Prudential Financial Stock Down 0.6 %

PRU opened at $110.50 on Friday. Prudential Financial, Inc. has a twelve month low of $77.22 and a twelve month high of $118.69. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average price of $111.75 and a 200 day moving average price of $103.73. The company has a market cap of $39.67 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 0.75 and a beta of 1.37.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $2.58 earnings per share for the quarter, missing the consensus estimate of $2.67 by ($0.09). Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. The company had revenue of $13.02 billion for the quarter, compared to analyst estimates of $12.99 billion. During the same quarter last year, the company earned $2.42 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. Sell-side analysts expect that Prudential Financial, Inc. will post 13.38 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Tuesday, February 20th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.71%. The ex-dividend date of this dividend was Friday, February 16th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.25. Prudential Financial’s dividend payout ratio is 77.73%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Evercore ISI boosted their price objective on shares of Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a report on Thursday. Keefe, Bruyette & Woods boosted their price objective on shares of Prudential Financial from $112.00 to $118.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Morgan Stanley boosted their price objective on shares of Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Wells Fargo & Company boosted their target price on shares of Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research report on Thursday, April 11th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $118.00 target price (down from $119.00) on shares of Prudential Financial in a research report on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $111.42.

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.