Prudential Financial, Inc. $PRU Shares Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership raised its holdings in Prudential Financial, Inc. (NYSE:PRU) by 62.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,309,377 shares of the financial services provider’s stock after acquiring an additional 505,061 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Prudential Financial were worth $147,802,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in PRU. Jessup Wealth Management Inc purchased a new position in shares of Prudential Financial in the 4th quarter valued at about $25,000. Salomon & Ludwin LLC boosted its holdings in Prudential Financial by 98.3% during the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock worth $27,000 after buying an additional 114 shares in the last quarter. Lodestone Wealth Management LLC acquired a new position in Prudential Financial during the fourth quarter worth about $28,000. Coston McIsaac & Partners increased its holdings in Prudential Financial by 93.4% in the fourth quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock valued at $29,000 after buying an additional 128 shares in the last quarter. Finally, Basepoint Wealth LLC purchased a new position in Prudential Financial in the fourth quarter valued at about $30,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PRU has been the topic of several research analyst reports. Zacks Research lowered Prudential Financial from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. Evercore reaffirmed a “negative” rating on shares of Prudential Financial in a report on Friday, March 6th. UBS Group decreased their target price on Prudential Financial from $105.00 to $98.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. Weiss Ratings upgraded Prudential Financial from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday. Finally, Piper Sandler lifted their price target on Prudential Financial from $99.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Ten research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, Prudential Financial has an average rating of “Reduce” and a consensus price target of $101.50.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $108.69 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The business’s fifty day moving average price is $100.75 and its two-hundred day moving average price is $104.33. The stock has a market cap of $37.72 billion, a PE ratio of 11.18, a price-to-earnings-growth ratio of 1.97 and a beta of 0.86. Prudential Financial, Inc. has a one year low of $91.89 and a one year high of $119.76.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.52. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.The company had revenue of $15.23 billion during the quarter, compared to analysts’ expectations of $14.10 billion. During the same period in the previous year, the firm posted $3.29 earnings per share. On average, analysts forecast that Prudential Financial, Inc. will post 13.84 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, May 26th were paid a $1.40 dividend. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $5.60 annualized dividend and a yield of 5.2%. Prudential Financial’s payout ratio is presently 57.61%.

About Prudential Financial

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.