Prudential Financial, Inc. $PRU Position Increased by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey raised its position in Prudential Financial, Inc. (NYSE:PRU) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,971 shares of the financial services provider’s stock after purchasing an additional 1,005 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Prudential Financial were worth $5,906,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Meeder Asset Management Inc. grew its stake in shares of Prudential Financial by 90.2% in the 1st quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock valued at $26,000 after buying an additional 111 shares in the last quarter. AlphaQuest LLC lifted its stake in Prudential Financial by 12,250.0% in the first quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 245 shares during the last quarter. Cheviot Value Management LLC bought a new stake in Prudential Financial in the first quarter worth approximately $26,000. Clearstead Trust LLC increased its stake in shares of Prudential Financial by 350.8% during the 1st quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 207 shares during the last quarter. Finally, N.E.W. Advisory Services LLC bought a new position in shares of Prudential Financial during the 1st quarter valued at $45,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PRU shares. Wall Street Zen upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Barclays lowered their price objective on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. Morgan Stanley boosted their target price on Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Evercore ISI lifted their price target on shares of Prudential Financial from $120.00 to $122.00 and gave the company an “in-line” rating in a research report on Thursday, October 30th. Finally, Wolfe Research began coverage on shares of Prudential Financial in a report on Tuesday, September 16th. They set a “peer perform” rating for the company. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $120.73.

Prudential Financial Stock Down 0.7%

PRU opened at $107.12 on Friday. The company has a market capitalization of $37.49 billion, a P/E ratio of 14.71, a P/E/G ratio of 0.88 and a beta of 1.05. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16. The firm’s fifty day moving average price is $103.70 and its two-hundred day moving average price is $104.68. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 EPS for the quarter. Prudential Financial had a net margin of 4.65% and a return on equity of 16.98%. The company had revenue of $8.35 billion during the quarter. On average, analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Tuesday, November 18th. Prudential Financial’s payout ratio is presently 74.18%.

Insider Buying and Selling

In other news, EVP Ann M. Kappler sold 4,000 shares of the business’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $109.65, for a total value of $438,600.00. Following the sale, the executive vice president owned 21,506 shares in the company, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Charles F. Lowrey sold 48,164 shares of the stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the sale, the chairman owned 165,564 shares of the company’s stock, valued at $17,779,917.96. This trade represents a 22.54% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.25% of the company’s stock.

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.