Crawford Investment Counsel Inc. Has $28.72 Million Stock Holdings in Prudential Financial, Inc. $PRU

Crawford Investment Counsel Inc. grew its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.8% in the third quarter, HoldingsChannel reports. The fund owned 276,801 shares of the financial services provider’s stock after acquiring an additional 7,508 shares during the period. Crawford Investment Counsel Inc.’s holdings in Prudential Financial were worth $28,715,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PRU. Ceeto Capital Group LLC acquired a new position in Prudential Financial during the third quarter worth $207,000. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Prudential Financial by 36.9% in the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 10,309 shares of the financial services provider’s stock valued at $1,069,000 after buying an additional 2,779 shares during the last quarter. Bridgefront Capital LLC bought a new stake in Prudential Financial during the 3rd quarter worth about $448,000. California Public Employees Retirement System boosted its stake in shares of 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 buying an additional 21,323 shares during the last quarter. Finally, Bank of Nova Scotia grew its holdings 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 acquiring an additional 18,317 shares in the last quarter. 56.83% of the stock is owned by institutional investors.

Insider Activity at Prudential Financial

In related news, Director Thomas D. Stoddard bought 250 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was bought at an average price of $102.97 per share, for a total transaction of $25,742.50. Following the purchase, the director owned 250 shares in the company, valued at $25,742.50. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jacques Chappuis bought 1,000 shares of Prudential Financial stock in a transaction that occurred on Friday, February 6th. The shares were bought at an average cost of $100.97 per share, with a total value of $100,970.00. Following the acquisition, the executive vice president directly owned 1,000 shares in the company, valued at $100,970. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 1,408,389 shares of company stock valued at $35,154,439. 0.25% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Evercore reiterated a “negative” rating on shares of Prudential Financial in a report on Friday, March 6th. Barclays decreased their price target on Prudential Financial from $124.00 to $119.00 and set an “equal weight” rating for the company in a research note on Wednesday. Weiss Ratings cut Prudential Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Morgan Stanley cut their price objective on Prudential Financial from $120.00 to $111.00 and set an “equal weight” rating for the company in a report on Tuesday, March 3rd. Finally, Mizuho lowered their target price on shares of Prudential Financial from $126.00 to $113.00 and set a “neutral” rating on the stock in a report on Tuesday, February 10th. Nine research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $115.22.

Prudential Financial Trading Down 0.3%

Prudential Financial stock opened at $92.02 on Friday. The stock has a 50-day simple moving average of $105.76 and a 200 day simple moving average of $106.57. The stock has a market capitalization of $32.02 billion, a P/E ratio of 9.20, a PEG ratio of 1.13 and a beta of 0.98. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $119.76.

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

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Tuesday, February 17th were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $5.60 annualized dividend and a yield of 6.1%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.35. Prudential Financial’s payout ratio is 56.00%.

Prudential Financial Company Profile

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.