NuWave Investment Management LLC Has $152,000 Holdings in Prudential Financial, Inc. (NYSE:PRU)


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NuWave Investment Management LLC boosted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 113.4% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,667 shares of the financial services provider’s stock after purchasing an additional 886 shares during the quarter. NuWave Investment Management LLC’s holdings in Prudential Financial were worth $152,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Hancock Whitney Corp lifted its holdings in Prudential Financial by 0.4% during the 4th quarter. Hancock Whitney Corp now owns 29,637 shares of the financial services provider’s stock worth $2,314,000 after buying an additional 127 shares in the last quarter. Cadence Bank NA raised its position in shares of Prudential Financial by 1.6% during the 4th quarter. Cadence Bank NA now owns 7,946 shares of the financial services provider’s stock valued at $621,000 after acquiring an additional 128 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its position in shares of Prudential Financial by 3.4% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 3,983 shares of the financial services provider’s stock valued at $310,000 after acquiring an additional 131 shares during the last quarter. Patten & Patten Inc. TN raised its position in shares of Prudential Financial by 1.6% during the 4th quarter. Patten & Patten Inc. TN now owns 8,712 shares of the financial services provider’s stock valued at $680,000 after acquiring an additional 140 shares during the last quarter. Finally, Financial Advisory Service Inc. raised its position in shares of Prudential Financial by 3.8% during the 4th quarter. Financial Advisory Service Inc. now owns 3,806 shares of the financial services provider’s stock valued at $297,000 after acquiring an additional 140 shares during the last quarter. 54.50% of the stock is currently owned by hedge funds and other institutional investors.

PRU has been the subject of a number of recent analyst reports. Morgan Stanley upped their price objective on shares of Prudential Financial from $90.00 to $99.00 and gave the company an “equal weight” rating in a research report on Thursday, April 1st. Zacks Investment Research raised shares of Prudential Financial from a “sell” rating to a “hold” rating and set a $94.00 target price for the company in a research note on Thursday, February 25th. JPMorgan Chase & Co. upped their target price on shares of Prudential Financial from $91.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, April 5th. TheStreet lowered shares of Prudential Financial from a “b-” rating to a “c” rating in a research note on Thursday, February 4th. Finally, Royal Bank of Canada upped their target price on shares of Prudential Financial from $82.00 to $92.00 in a research note on Thursday, April 8th. Twelve analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $85.57.

Prudential Financial stock opened at $95.56 on Tuesday. The stock has a market cap of $37.79 billion, a P/E ratio of -265.44, a P/E/G ratio of 1.72 and a beta of 1.72. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.30. Prudential Financial, Inc. has a twelve month low of $48.52 and a twelve month high of $95.75. The company’s 50-day moving average price is $91.10 and its two-hundred day moving average price is $78.94.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Thursday, February 4th. The financial services provider reported $2.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.50 by $0.43. The firm had revenue of $15.08 billion for the quarter, compared to analysts’ expectations of $13.98 billion. Prudential Financial had a negative net margin of 0.12% and a positive return on equity of 6.06%. Equities analysts anticipate that Prudential Financial, Inc. will post 9.82 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 11th. Stockholders of record on Tuesday, February 16th were issued a dividend of $1.15 per share. The ex-dividend date was Friday, February 12th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.10. This represents a $4.60 annualized dividend and a dividend yield of 4.81%. Prudential Financial’s dividend payout ratio (DPR) is currently 39.35%.

In related news, Director Wendy Elizabeth Jones bought 1,000 shares of the business’s stock in a transaction on Tuesday, February 9th. The shares were purchased at an average price of $80.98 per share, for a total transaction of $80,980.00. Following the completion of the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $80,980. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Timothy L. Schmidt sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 8th. The shares were sold at an average price of $94.11, for a total transaction of $470,550.00. The disclosure for this sale can be found here. Insiders have sold 42,485 shares of company stock worth $3,876,812 over the last ninety days. Insiders own 0.33% of the company’s stock.

Prudential Financial Company 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 eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block.

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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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