Prudential Financial, Inc. (NYSE:PRU) Shares Acquired by Ossiam

Ossiam lifted its position in Prudential Financial, Inc. (NYSE:PRU) by 492.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,060 shares of the financial services provider’s stock after purchasing an additional 93,991 shares during the period. Ossiam’s holdings in Prudential Financial were worth $13,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. First Trust Advisors LP raised its position in shares of Prudential Financial by 20.8% in the fourth quarter. First Trust Advisors LP now owns 711,628 shares of the financial services provider’s stock worth $84,349,000 after acquiring an additional 122,616 shares during the period. Forum Financial Management LP raised its holdings in Prudential Financial by 3.2% in the 4th quarter. Forum Financial Management LP now owns 9,368 shares of the financial services provider’s stock worth $1,110,000 after purchasing an additional 287 shares during the period. Cadence Bank boosted its position in Prudential Financial by 1.9% during the fourth quarter. Cadence Bank now owns 169,949 shares of the financial services provider’s stock worth $20,144,000 after purchasing an additional 3,169 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in Prudential Financial by 3.4% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 415,502 shares of the financial services provider’s stock valued at $49,240,000 after purchasing an additional 13,588 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in shares of Prudential Financial by 5.7% in the fourth quarter. Canada Pension Plan Investment Board now owns 164,304 shares of the financial services provider’s stock valued at $19,475,000 after buying an additional 8,900 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Piper Sandler dropped their price target on shares of Prudential Financial from $122.00 to $110.00 and set a “neutral” rating on the stock in a research note on Tuesday. Keefe, Bruyette & Woods decreased their price target on shares of Prudential Financial from $125.00 to $120.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 9th. Barclays reduced their target price on Prudential Financial from $134.00 to $106.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. Morgan Stanley dropped their price target on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Finally, BMO Capital Markets began coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They set an “underperform” rating and a $101.00 target price on the stock. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and a consensus price target of $121.85.

Insider Buying and Selling at Prudential Financial

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

Prudential Financial Price Performance

Prudential Financial stock opened at $99.39 on Friday. 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 has a market cap of $35.23 billion, a P/E ratio of 13.31, a PEG ratio of 0.98 and a beta of 1.11. The company has a 50-day moving average price of $107.69 and a 200 day moving average price of $116.89. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 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%. Sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.43%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, February 18th. Prudential Financial’s dividend payout ratio (DPR) is presently 72.29%.

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 PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.