Investment Research Partners LLC Invests $646,000 in Prudential Financial, Inc. $PRU

Investment Research Partners LLC acquired a new stake in Prudential Financial, Inc. (NYSE:PRU) in the third quarter, HoldingsChannel.com reports. The fund acquired 6,388 shares of the financial services provider’s stock, valued at approximately $646,000.

Other institutional investors also recently added to or reduced their stakes in the company. Wealth Watch Advisors INC purchased a new position in shares of Prudential Financial during the 3rd quarter worth approximately $30,000. Chilton Capital Management LLC boosted its stake in shares of Prudential Financial by 146.5% in the third quarter. Chilton Capital Management LLC now owns 350 shares of the financial services provider’s stock valued at $36,000 after buying an additional 208 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in Prudential Financial during the second quarter worth $36,000. AlphaCore Capital LLC acquired a new position in Prudential Financial during the second quarter worth $39,000. Finally, Capital A Wealth Management LLC raised its position in Prudential Financial by 4,600.0% in the second quarter. Capital A Wealth Management LLC now owns 376 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 368 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on PRU shares. JPMorgan Chase & Co. decreased their target price on shares of Prudential Financial from $133.00 to $127.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 4th. Morgan Stanley reduced their price objective on shares of Prudential Financial from $120.00 to $111.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 3rd. Barclays decreased their price objective on shares of Prudential Financial from $124.00 to $119.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 11th. UBS Group upped their target price on shares of Prudential Financial from $111.00 to $116.00 and gave the stock a “neutral” rating in a research report on Thursday, January 8th. Finally, Evercore reiterated a “negative” rating on shares of Prudential Financial in a research report on Friday, March 6th. Nine research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $115.22.

Insider Buying and Selling at Prudential Financial

In related news, Director Joseph J. Wolk purchased 400 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was bought at an average price of $105.32 per share, with a total value of $42,128.00. Following the completion of the transaction, the director owned 400 shares of the company’s stock, valued at approximately $42,128. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jacques Chappuis purchased 1,000 shares of the business’s stock in a transaction dated Friday, February 6th. The stock was bought at an average cost of $100.97 per share, with a total value of $100,970.00. Following the completion of the acquisition, the executive vice president owned 1,000 shares of the company’s stock, valued at approximately $100,970. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders acquired 1,408,389 shares of company stock valued at $35,154,439. Company insiders own 0.25% of the company’s stock.

Prudential Financial Trading Down 1.7%

NYSE:PRU opened at $92.89 on Thursday. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $119.76. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The stock has a fifty day simple moving average of $104.33 and a 200-day simple moving average of $106.24. The company has a market capitalization of $32.32 billion, a PE ratio of 9.29, a price-to-earnings-growth ratio of 1.16 and a beta of 0.98.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $3.30 EPS for the quarter, missing analysts’ consensus estimates of $3.37 by ($0.07). Prudential Financial had a net margin of 6.20% and a return on equity of 16.32%. The business had revenue of $14.52 billion during the quarter, compared to analyst estimates of $14.48 billion. During the same period in the previous year, the company posted $2.96 earnings per share. On average, equities research analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Tuesday, February 17th were given a $1.40 dividend. This is a boost from Prudential Financial’s previous quarterly dividend of $1.35. This represents a $5.60 annualized dividend and a dividend yield of 6.0%. The ex-dividend date was Tuesday, February 17th. Prudential Financial’s dividend payout ratio (DPR) is currently 56.00%.

About Prudential Financial

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.