Woodward Diversified Capital LLC Sells 3,237 Shares of Prudential Financial, Inc. (NYSE:PRU)

Woodward Diversified Capital LLC cut its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 47.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,608 shares of the financial services provider’s stock after selling 3,237 shares during the quarter. Woodward Diversified Capital LLC’s holdings in Prudential Financial were worth $428,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Grove Bank & Trust raised its position in shares of Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 87 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Prudential Financial in the third quarter valued at about $31,000. CGC Financial Services LLC boosted its stake in shares of Prudential Financial by 82.1% in the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 124 shares during the period. Quarry LP grew its position in shares of Prudential Financial by 376.3% during the third quarter. Quarry LP now owns 281 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 222 shares in the last quarter. Finally, Private Wealth Management Group LLC lifted its holdings in Prudential Financial by 119.0% in the 4th quarter. Private Wealth Management Group LLC now owns 322 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 175 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Insider Activity

In other news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the purchase, the insider now directly owns 4,780,293 shares in the company, valued at $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.31% of the company’s stock.

Prudential Financial Trading Down 0.6 %

Shares of PRU opened at $112.80 on Friday. Prudential Financial, Inc. has a twelve month low of $104.02 and a twelve month high of $130.55. The company has a current ratio of 0.16, a quick ratio of 0.14 and a debt-to-equity ratio of 0.68. The company’s fifty day simple moving average is $119.75 and its 200-day simple moving average is $120.37. The company has a market cap of $40.16 billion, a P/E ratio of 15.10, a P/E/G ratio of 1.00 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. As a group, analysts expect that Prudential Financial, Inc. will post 14.38 EPS for the current year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.79%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Tuesday, February 18th. Prudential Financial’s dividend payout ratio (DPR) is 69.61%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PRU shares. Wells Fargo & Company reduced their price objective on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Jefferies Financial Group lifted their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Barclays raised their price objective on Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research report on Wednesday. BMO Capital Markets started coverage on Prudential Financial in a research report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price on the stock. Finally, TD Cowen raised their price target on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $125.77.

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.