Brandywine Global Investment Management LLC Increases Position in Prudential Financial Inc (PRU)

Brandywine Global Investment Management LLC boosted its position in Prudential Financial Inc (NYSE:PRU) by 5.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 485,246 shares of the financial services provider’s stock after acquiring an additional 26,076 shares during the period. Brandywine Global Investment Management LLC owned 0.12% of Prudential Financial worth $39,572,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Prudential Financial by 0.6% in the 4th quarter. BlackRock Inc. now owns 27,744,199 shares of the financial services provider’s stock valued at $2,262,541,000 after acquiring an additional 164,442 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Prudential Financial by 8,297.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,932,559 shares of the financial services provider’s stock valued at $146,000 after acquiring an additional 11,790,464 shares during the period. Northern Trust Corp raised its stake in Prudential Financial by 6.3% in the 4th quarter. Northern Trust Corp now owns 5,154,006 shares of the financial services provider’s stock valued at $420,310,000 after acquiring an additional 305,259 shares during the period. Geode Capital Management LLC raised its stake in Prudential Financial by 6.8% in the 4th quarter. Geode Capital Management LLC now owns 5,129,191 shares of the financial services provider’s stock valued at $417,519,000 after acquiring an additional 326,075 shares during the period. Finally, LSV Asset Management raised its stake in Prudential Financial by 0.4% in the 4th quarter. LSV Asset Management now owns 3,557,199 shares of the financial services provider’s stock valued at $290,089,000 after acquiring an additional 15,825 shares during the period. Institutional investors and hedge funds own 63.88% of the company’s stock.

Shares of PRU opened at $95.98 on Friday. Prudential Financial Inc has a twelve month low of $75.61 and a twelve month high of $110.23. The stock has a market cap of $39.26 billion, a PE ratio of 8.21, a P/E/G ratio of 0.83 and a beta of 1.44. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.35.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, February 6th. The financial services provider reported $2.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.88 by ($0.44). Prudential Financial had a net margin of 7.01% and a return on equity of 10.20%. The company had revenue of $17.78 billion for the quarter, compared to the consensus estimate of $14.03 billion. During the same quarter in the prior year, the company earned $2.69 earnings per share. As a group, sell-side analysts predict that Prudential Financial Inc will post 12.69 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Wednesday, February 20th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Tuesday, February 19th. This is a boost from Prudential Financial’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a dividend yield of 4.17%. Prudential Financial’s dividend payout ratio is currently 34.22%.

A number of brokerages recently issued reports on PRU. Zacks Investment Research upgraded Prudential Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, February 12th. Evercore ISI upgraded Prudential Financial from an “in-line” rating to an “outperform” rating and set a $85.50 price objective on the stock in a research note on Wednesday, January 9th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $113.00 price target on shares of Prudential Financial in a research report on Wednesday, January 9th. Finally, Wells Fargo & Co assumed coverage on Prudential Financial in a research report on Tuesday, January 8th. They set an “outperform” rating and a $105.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $114.19.

In other news, insider Stephen Pelletier sold 26,006 shares of the company’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $94.04, for a total transaction of $2,445,604.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.61% of the company’s stock.

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Prudential Financial Profile

Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.

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

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