Convergence Investment Partners LLC Sells 1,665 Shares of Prudential Financial, Inc. (NYSE:PRU)

Convergence Investment Partners LLC reduced its stake in Prudential Financial, Inc. (NYSE:PRU) by 15.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,241 shares of the financial services provider’s stock after selling 1,665 shares during the quarter. Convergence Investment Partners LLC’s holdings in Prudential Financial were worth $958,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. First Financial Corp IN lifted its position in Prudential Financial by 13.7% in the 4th quarter. First Financial Corp IN now owns 848 shares of the financial services provider’s stock valued at $88,000 after acquiring an additional 102 shares in the last quarter. Cambridge Trust Co. lifted its position in Prudential Financial by 77.2% in the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 105 shares in the last quarter. Raab & Moskowitz Asset Management LLC lifted its position in Prudential Financial by 1.8% in the 4th quarter. Raab & Moskowitz Asset Management LLC now owns 6,531 shares of the financial services provider’s stock valued at $677,000 after acquiring an additional 118 shares in the last quarter. Patron Partners LLC lifted its position in Prudential Financial by 2.4% in the 3rd quarter. Patron Partners LLC now owns 5,086 shares of the financial services provider’s stock valued at $483,000 after acquiring an additional 119 shares in the last quarter. Finally, Janiczek Wealth Management LLC lifted its position in Prudential Financial by 49.6% in the 4th quarter. Janiczek Wealth Management LLC now owns 374 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 124 shares in the last quarter. 56.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PRU has been the topic of several analyst reports. Wells Fargo & Company upped their price objective on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $118.00 target price (down from $119.00) on shares of Prudential Financial in a research note on Wednesday, January 3rd. Raymond James lowered shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, February 9th. TheStreet upgraded shares of Prudential Financial from a “c+” rating to an “a-” rating in a research note on Tuesday, February 6th. Finally, UBS Group boosted their target price on shares of Prudential Financial from $108.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. 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 company presently has a consensus rating of “Hold” and a consensus price target of $111.42.

Insider Activity at Prudential Financial

In related news, EVP Ann M. Kappler sold 7,222 shares of the 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 transaction, 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 legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Andrew F. Sullivan sold 7,685 shares of the 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 sale, the executive vice president now directly owns 13,691 shares of the company’s stock, valued at approximately $1,527,504.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann M. Kappler sold 7,222 shares of the stock in a transaction dated Wednesday, February 28th. The stock was 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 directly owns 24,381 shares in the company, valued at $2,642,656.59. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,255 shares of company stock valued at $3,215,664. Insiders own 0.31% of the company’s stock.

Prudential Financial Trading Down 0.6 %

Shares of NYSE:PRU traded down $0.68 during trading on Friday, reaching $110.50. The company’s stock had a trading volume of 1,110,106 shares, compared to its average volume of 1,226,730. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. Prudential Financial, Inc. has a 12 month low of $77.22 and a 12 month high of $118.69. The firm’s 50 day simple moving average is $111.75 and its two-hundred day simple moving average is $103.80. The stock has a market capitalization 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 announced its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $2.58 EPS for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.09). Prudential Financial had a net margin of 4.89% and a return on equity of 14.52%. The business had revenue of $13.02 billion during the quarter, compared to the consensus estimate of $12.99 billion. During the same period in the previous year, the business posted $2.42 EPS. The firm’s revenue was up 6.7% on a year-over-year basis. On average, research analysts predict that Prudential Financial, Inc. will post 13.38 EPS for the current fiscal year.

Prudential Financial Increases Dividend

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

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.