Systematic Financial Management LP Trims Holdings in Prudential Financial, Inc. (NYSE:PRU)

Systematic Financial Management LP trimmed its stake in Prudential Financial, Inc. (NYSE:PRU) by 68.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,045 shares of the financial services provider’s stock after selling 2,255 shares during the period. Systematic Financial Management LP’s holdings in Prudential Financial were worth $124,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Grove Bank & Trust raised its stake in shares of Prudential Financial by 65.9% in the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 87 shares during the period. Centricity Wealth Management LLC purchased a new stake in shares of Prudential Financial in the 4th quarter valued at approximately $29,000. CGC Financial Services LLC raised 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 acquiring an additional 124 shares during the period. Wingate Wealth Advisors Inc. purchased a new stake in Prudential Financial during the 4th quarter worth approximately $33,000. Finally, Hopwood Financial Services Inc. purchased a new stake in Prudential Financial during the 4th quarter worth approximately $34,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PRU. JPMorgan Chase & Co. cut their target price on shares of Prudential Financial from $128.00 to $126.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. UBS Group cut their target price on shares of Prudential Financial from $130.00 to $122.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Morgan Stanley cut their target price on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. BMO Capital Markets began coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They set an “underperform” rating and a $101.00 target price on the stock. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Prudential Financial from $120.00 to $117.00 and set a “market perform” rating for the company in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $121.92.

Prudential Financial Trading Up 0.3%

Shares of Prudential Financial stock opened at $107.37 on Friday. The company has a fifty day simple moving average of $104.71 and a 200-day simple moving average of $113.97. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The stock has a market cap of $38.01 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 0.98 and a beta of 1.07.

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

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 5.03%. The ex-dividend date is Tuesday, May 20th. Prudential Financial’s payout ratio is 85.58%.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 52,595 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The stock was purchased at an average price of $28.52 per share, for a total transaction of $1,500,009.40. Following the purchase, the insider now directly owns 139,987 shares in the company, valued at approximately $3,992,429.24. This trade represents a 60.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the sale, 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 position. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

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.