Choreo LLC Buys 4,306 Shares of Prudential Financial, Inc. (NYSE:PRU)

Choreo LLC boosted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 163.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,940 shares of the financial services provider’s stock after purchasing an additional 4,306 shares during the period. Choreo LLC’s holdings in Prudential Financial were worth $720,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. First Financial Corp IN raised its position in Prudential Financial by 13.7% in the fourth quarter. First Financial Corp IN now owns 848 shares of the financial services provider’s stock worth $88,000 after acquiring an additional 102 shares during the period. Cambridge Trust Co. raised its position 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 acquiring an additional 105 shares during the period. Raab & Moskowitz Asset Management LLC raised its position in Prudential Financial by 1.8% in the fourth quarter. Raab & Moskowitz Asset Management LLC now owns 6,531 shares of the financial services provider’s stock worth $677,000 after acquiring an additional 118 shares during the period. Patron Partners LLC raised its position in Prudential Financial by 2.4% in the third quarter. Patron Partners LLC now owns 5,086 shares of the financial services provider’s stock worth $483,000 after acquiring an additional 119 shares during the period. Finally, Janiczek Wealth Management LLC raised its position 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 acquiring an additional 124 shares during the period. 56.83% of the stock is currently owned by institutional investors.

Insider Transactions at Prudential Financial

In other news, EVP Andrew F. Sullivan sold 7,685 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $111.57, for a total value of $857,415.45. Following the completion of the sale, the executive vice president now owns 13,691 shares in the company, valued at approximately $1,527,504.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Ann M. Kappler sold 7,222 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $108.39, for a total value of $782,792.58. Following the completion of the sale, the executive vice president now owns 24,381 shares in the company, valued at approximately $2,642,656.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Andrew F. Sullivan sold 7,685 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total transaction of $857,415.45. Following the completion of the sale, the executive vice president now owns 13,691 shares of the company’s stock, valued at approximately $1,527,504.87. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,255 shares of company stock worth $3,215,664. 0.31% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PRU shares. Wells Fargo & Company increased their price objective on shares of Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a research note on Thursday, April 11th. Morgan Stanley increased their price objective on shares of Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Evercore ISI increased their price objective on shares of Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $118.00 price objective (down from $119.00) on shares of Prudential Financial in a research note on Wednesday, January 3rd. Finally, Raymond James cut shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, February 9th. Two research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. According to data from MarketBeat, Prudential Financial presently has an average rating of “Hold” and a consensus price target of $111.42.

Prudential Financial Stock Performance

Shares of NYSE:PRU opened at $112.30 on Thursday. Prudential Financial, Inc. has a 52 week low of $77.22 and a 52 week high of $118.69. The stock has a market capitalization of $40.32 billion, a P/E ratio of 19.10, a PEG ratio of 0.75 and a beta of 1.35. The firm has a fifty day simple moving average of $112.00 and a two-hundred day simple moving average of $104.16. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). Prudential Financial had a return on equity of 15.54% and a net margin of 3.76%. The business had revenue of $15.01 billion during the quarter, compared to analysts’ expectations of $14.50 billion. During the same period in the previous year, the business earned $2.66 earnings per share. The business’s quarterly revenue was up 69.9% on a year-over-year basis. On average, analysts expect that Prudential Financial, Inc. will post 13.38 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Tuesday, February 20th were paid a $1.30 dividend. This is a boost from Prudential Financial’s previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date of this dividend was Friday, February 16th. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Prudential Financial Profile

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.