Centiva Capital LP Sells 6,101 Shares of Prudential Financial, Inc. $PRU

Centiva Capital LP trimmed its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 39.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,417 shares of the financial services provider’s stock after selling 6,101 shares during the quarter. Centiva Capital LP’s holdings in Prudential Financial were worth $977,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in shares of Prudential Financial by 36.9% during the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 10,309 shares of the financial services provider’s stock worth $1,069,000 after acquiring an additional 2,779 shares during the period. Bridgefront Capital LLC acquired a new position in Prudential Financial in the 3rd quarter worth $448,000. California Public Employees Retirement System increased its holdings in Prudential Financial by 3.6% during the 3rd quarter. California Public Employees Retirement System now owns 618,656 shares of the financial services provider’s stock worth $64,179,000 after purchasing an additional 21,323 shares in the last quarter. Bank of Nova Scotia raised its stake in shares of Prudential Financial by 24.4% in the 3rd quarter. Bank of Nova Scotia now owns 93,369 shares of the financial services provider’s stock valued at $9,686,000 after purchasing an additional 18,317 shares during the period. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of Prudential Financial in the third quarter valued at about $11,955,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Insurance Co Of Ame Prudential bought 1,406,739 shares of the company’s stock in a transaction dated Friday, January 23rd. The shares were bought at an average cost of $24.87 per share, with a total value of $34,985,598.93. Following the acquisition, the insider owned 7,709,624 shares in the company, valued at $191,738,348.88. This trade represents a 22.32% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph J. Wolk bought 400 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was purchased at an average price of $105.32 per share, with a total value of $42,128.00. Following the completion of the purchase, the director directly owned 400 shares in the company, valued at $42,128. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have bought 1,408,389 shares of company stock worth $35,154,439. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PRU shares. JPMorgan Chase & Co. decreased their price objective on Prudential Financial from $133.00 to $127.00 and set a “neutral” rating for the company in a report on Wednesday, February 4th. Mizuho cut their target price on Prudential Financial from $126.00 to $113.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 10th. Wells Fargo & Company cut shares of Prudential Financial from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $115.00 to $103.00 in a research note on Wednesday, February 25th. Barclays lowered 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. Finally, Morgan Stanley reduced their target price on shares of Prudential Financial from $120.00 to $111.00 and set an “equal weight” rating for the company in a report on Tuesday, March 3rd. Nine investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $115.22.

Prudential Financial Stock Performance

Shares of NYSE PRU opened at $92.02 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a 50 day moving average price of $105.76 and a 200 day moving average price of $106.55. The stock has a market capitalization of $32.02 billion, a PE ratio of 9.20, a price-to-earnings-growth ratio of 1.13 and a beta of 0.98. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $119.76.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share for the quarter, missing the consensus estimate of $3.37 by ($0.07). The company had revenue of $14.52 billion for the quarter, compared to analyst estimates of $14.48 billion. Prudential Financial had a return on equity of 16.32% and a net margin of 6.20%.During the same period last year, the firm earned $2.96 EPS. Analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Tuesday, February 17th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 6.1%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Tuesday, February 17th. Prudential Financial’s payout ratio 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.