New York State Common Retirement Fund Has $32.12 Million Holdings in Prudential Financial, Inc. (NYSE:PRU)

New York State Common Retirement Fund cut its stake in Prudential Financial, Inc. (NYSE:PRU) by 10.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 309,730 shares of the financial services provider’s stock after selling 36,491 shares during the period. New York State Common Retirement Fund owned about 0.09% of Prudential Financial worth $32,122,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. First Financial Corp IN raised its holdings in shares of Prudential Financial by 13.7% in the 4th quarter. First Financial Corp IN now owns 848 shares of the financial services provider’s stock worth $88,000 after buying an additional 102 shares in the last quarter. Cambridge Trust Co. grew its position in Prudential Financial by 77.2% during the 4th 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 last quarter. Patron Partners LLC grew its position in Prudential Financial by 2.4% during the 3rd 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 last quarter. Janiczek Wealth Management LLC grew its position in Prudential Financial by 49.6% during the 4th 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 last quarter. Finally, Knights of Columbus Asset Advisors LLC grew its position in Prudential Financial by 0.3% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 50,718 shares of the financial services provider’s stock worth $4,813,000 after acquiring an additional 128 shares during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Stock Performance

PRU stock opened at $111.18 on Friday. The company has a market cap of $39.91 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 0.76 and a beta of 1.37. Prudential Financial, Inc. has a twelve month low of $77.22 and a twelve month high of $118.69. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. The business’s fifty day moving average is $111.68 and its 200-day moving average is $103.61.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $2.58 EPS for the quarter, missing the consensus estimate of $2.67 by ($0.09). The business had revenue of $13.02 billion for the quarter, compared to analyst estimates of $12.99 billion. Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.42 EPS. Equities research analysts forecast that Prudential Financial, Inc. will post 13.38 EPS for the current year.

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Tuesday, February 20th were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend was Friday, February 16th. This is an increase from Prudential Financial’s previous quarterly dividend of $1.25. Prudential Financial’s dividend payout ratio (DPR) is presently 77.73%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PRU shares. UBS Group increased their price target on Prudential Financial from $108.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $118.00 price objective (down from $119.00) on shares of Prudential Financial in a research report on Wednesday, January 3rd. Morgan Stanley increased their price objective on Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Wells Fargo & Company increased 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. Finally, Evercore ISI increased their price objective on Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $111.42.

Insider Buying and Selling

In related news, SVP Robert Axel sold 6,436 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total transaction of $719,930.96. Following the sale, the senior vice president now owns 7,901 shares of the company’s stock, valued at approximately $883,805.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Prudential Financial news, SVP Robert Axel sold 6,436 shares of Prudential Financial stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total value of $719,930.96. Following the sale, the senior vice president now owns 7,901 shares of the company’s stock, valued at approximately $883,805.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Timothy L. Schmidt sold 7,912 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $108.13, for a total value of $855,524.56. Following the completion of the transaction, the senior vice president now owns 14,754 shares of the company’s stock, valued at approximately $1,595,350.02. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,255 shares of company stock valued at $3,215,664. 0.31% 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.