Jacobs Levy Equity Management Inc. Raises Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Jacobs Levy Equity Management Inc. grew its stake in Prudential Financial, Inc. (NYSE:PRU) by 70.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 365,404 shares of the financial services provider’s stock after purchasing an additional 150,948 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Prudential Financial were worth $43,311,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Grove Bank & Trust grew its holdings in Prudential Financial by 65.9% in the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 87 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Prudential Financial in the 4th quarter valued at about $29,000. CGC Financial Services LLC lifted its stake in shares of Prudential Financial by 82.1% in the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 124 shares in the last quarter. Wingate Wealth Advisors Inc. purchased a new stake in shares of Prudential Financial during the 4th quarter valued at about $33,000. Finally, Hopwood Financial Services Inc. purchased a new stake in shares of Prudential Financial during the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $103.55 on Monday. The business’s 50 day moving average price is $104.89 and its two-hundred day moving average price is $114.53. The company has a market cap of $36.66 billion, a PE ratio of 13.86, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07. 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 twelve month low of $90.38 and a twelve month high of $130.55.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, beating the consensus estimate of $3.18 by $0.11. Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. The company had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $14.76 billion. During the same quarter in the prior year, the business earned $3.12 earnings per share. The firm’s revenue for the quarter was down 38.2% on a year-over-year basis. On average, analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 5.21%. The ex-dividend date of this dividend is Tuesday, May 20th. Prudential Financial’s payout ratio is 85.58%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PRU shares. Morgan Stanley dropped their price objective on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. UBS Group reduced their price target on Prudential Financial from $130.00 to $122.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. Barclays dropped their price objective on Prudential Financial from $134.00 to $106.00 and set an “equal weight” rating on the stock in a research note on Friday, April 11th. JPMorgan Chase & Co. cut their target price on Prudential Financial from $128.00 to $126.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods dropped their price target on Prudential Financial from $120.00 to $117.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has issued 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 $121.92.

Insider Activity

In other news, EVP Andrew F. Sullivan sold 6,000 shares of the company’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 value of $635,880.00. Following the transaction, the executive vice president now owns 27,072 shares of the company’s stock, valued at approximately $2,869,090.56. This represents a 18.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average price of $28.72 per share, with a total value of $2,499,989.84. Following the completion of the purchase, the insider now owns 87,047 shares of the company’s stock, valued at $2,499,989.84. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.25% of the stock is owned by company 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.