Guggenheim Capital LLC Sells 22,249 Shares of Prudential Financial, Inc. (NYSE:PRU)

Guggenheim Capital LLC lessened its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 36.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,277 shares of the financial services provider’s stock after selling 22,249 shares during the quarter. Guggenheim Capital LLC’s holdings in Prudential Financial were worth $4,537,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Grove Bank & Trust boosted its position in Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 87 shares during the period. Centricity Wealth Management LLC bought a new stake in shares of Prudential Financial during the 4th quarter worth $29,000. CGC Financial Services LLC grew its stake in Prudential Financial by 82.1% in the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock valued at $33,000 after buying an additional 124 shares during the last quarter. Wingate Wealth Advisors Inc. bought a new position in Prudential Financial in the 4th quarter worth $33,000. Finally, Hopwood Financial Services Inc. acquired a new position in Prudential Financial during the 4th quarter worth $34,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analysts Set New Price Targets

PRU has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price objective on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. JPMorgan Chase & Co. cut their price target on Prudential Financial from $128.00 to $126.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Barclays lowered their price objective on shares of Prudential Financial from $134.00 to $106.00 and set an “equal weight” rating on the stock in a research note on Friday, April 11th. UBS Group reduced their price target on shares of Prudential Financial from $130.00 to $122.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Finally, Wells Fargo & Company dropped their price objective on shares of Prudential Financial from $118.00 to $108.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $121.85.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were purchased at an average price of $28.72 per share, with a total value of $2,499,989.84. Following the acquisition, the insider now directly owns 87,047 shares in the company, valued at $2,499,989.84. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of the transaction, the executive vice president now directly owns 27,072 shares of the company’s stock, valued at approximately $2,869,090.56. This represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Prudential Financial Stock Up 0.8 %

NYSE PRU opened at $99.39 on Friday. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The stock’s 50 day moving average is $107.69 and its two-hundred day moving average is $116.89. The company has a market capitalization of $35.23 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 0.98 and a beta of 1.11.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data 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 return on equity of 15.86% and a net margin of 4.01%. Equities analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were paid a $1.35 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.43%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s payout ratio is 72.29%.

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.