World Investment Advisors Purchases 6,220 Shares of Prudential Financial, Inc. $PRU

World Investment Advisors increased its position in Prudential Financial, Inc. (NYSE:PRU) by 104.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 12,164 shares of the financial services provider’s stock after buying an additional 6,220 shares during the period. World Investment Advisors’ holdings in Prudential Financial were worth $1,373,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Summit Global Investments boosted its holdings in shares of Prudential Financial by 71.1% during the 3rd quarter. Summit Global Investments now owns 13,021 shares of the financial services provider’s stock valued at $1,351,000 after purchasing an additional 5,412 shares during the last quarter. VCI Wealth Management LLC boosted its holdings in shares of Prudential Financial by 117.1% during the 4th quarter. VCI Wealth Management LLC now owns 19,292 shares of the financial services provider’s stock valued at $2,178,000 after purchasing an additional 10,404 shares during the last quarter. KBC Group NV boosted its holdings in shares of Prudential Financial by 94.3% during the 4th quarter. KBC Group NV now owns 157,538 shares of the financial services provider’s stock valued at $17,783,000 after purchasing an additional 76,461 shares during the last quarter. Machina Capital S.A.S. bought a new position in shares of Prudential Financial during the 3rd quarter valued at about $1,285,000. Finally, Varma Mutual Pension Insurance Co boosted its holdings in shares of Prudential Financial by 22.0% during the 3rd quarter. Varma Mutual Pension Insurance Co now owns 108,839 shares of the financial services provider’s stock valued at $11,291,000 after purchasing an additional 19,600 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Down 1.3%

Shares of NYSE PRU opened at $101.88 on Friday. The firm’s 50-day moving average price is $97.13 and its 200-day moving average price is $104.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $35.35 billion, a price-to-earnings ratio of 10.48, a P/E/G ratio of 1.84 and a beta of 0.86. Prudential Financial, Inc. has a 12-month low of $91.89 and a 12-month high of $119.76.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.52. The firm had revenue of $15.23 billion for the quarter, compared to analysts’ expectations of $14.10 billion. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. During the same period in the prior year, the company earned $3.29 EPS. On average, equities research analysts anticipate that Prudential Financial, Inc. will post 13.71 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Tuesday, May 26th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Tuesday, May 26th. Prudential Financial’s dividend payout ratio is 57.61%.

Insiders Place Their Bets

In other news, Director Thomas D. Stoddard acquired 250 shares of Prudential Financial stock in a transaction that occurred on Tuesday, February 17th. The shares were bought at an average cost of $102.97 per share, with a total value of $25,742.50. Following the transaction, the director directly owned 250 shares of the company’s stock, valued at $25,742.50. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.05% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on PRU. UBS Group dropped their price objective on shares of Prudential Financial from $105.00 to $98.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Evercore reissued a “negative” rating on shares of Prudential Financial in a report on Friday, March 6th. Keefe, Bruyette & Woods upped their target price on shares of Prudential Financial from $100.00 to $106.00 and gave the company a “market perform” rating in a research report on Wednesday. Morgan Stanley restated an “underweight” rating and set a $92.00 target price (down from $106.00) on shares of Prudential Financial in a research report on Monday, May 4th. Finally, Wells Fargo & Company upped their target price on shares of Prudential Financial from $93.00 to $100.00 and gave the company an “underweight” rating in a research report on Tuesday, May 12th. Nine equities research analysts have rated the stock with a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $101.50.

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.