Campbell & CO Investment Adviser LLC Purchases New Position in Prudential Financial, Inc. $PRU

Key Points

• Campbell & CO Investment Adviser LLC acquired a new stake in Prudential Financial, investing approximately $2.47 million to purchase 22,128 shares during the first quarter of the year.
• Prudential Financial announced a quarterly dividend of $1.35 per share, with an ex-dividend date of August 19th, reflecting a 4.9% dividend yield.
• Analysts have mixed ratings on Prudential Financial, with one Buy, nine Hold, and one Sell rating; the current consensus price target is $122.08.

Campbell & CO Investment Adviser LLC bought a new stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 22,128 shares of the financial services provider's stock, valued at approximately $2,471,000.

Several other large investors have also added to or reduced their stakes in the company. Northern Trust Corp lifted its holdings in shares of Prudential Financial by 23.7% in the fourth quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider's stock worth $555,513,000 after buying an additional 897,916 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Prudential Financial by 11,280.3% in the first quarter. GAMMA Investing LLC now owns 867,865 shares of the financial services provider's stock worth $96,923,000 after purchasing an additional 860,239 shares during the last quarter. Nuveen LLC bought a new position in shares of Prudential Financial in the first quarter worth about $90,010,000. Goldman Sachs Group Inc. lifted its stake in Prudential Financial by 19.2% in the first quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider's stock worth $469,777,000 after acquiring an additional 678,028 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Prudential Financial by 11.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,410,363 shares of the financial services provider's stock worth $404,230,000 after acquiring an additional 352,335 shares during the period. Hedge funds and other institutional investors own 56.83% of the company's stock.

Prudential Financial Trading Down 0.6%

NYSE:PRU traded down $0.71 on Thursday, reaching $108.76. 936,225 shares of the company's stock were exchanged, compared to its average volume of 1,768,249. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $38.28 billion, a price-to-earnings ratio of 24.12, a price-to-earnings-growth ratio of 0.97 and a beta of 1.07. The business has a fifty day moving average of $105.53 and a 200-day moving average of $105.85. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $3.58 EPS for the quarter, topping analysts' consensus estimates of $3.22 by $0.36. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%.The business had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.47 billion. During the same period in the previous year, the company posted $3.39 earnings per share. The business's revenue for the quarter was down 2.5% on a year-over-year basis. As a group, analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.0%. Prudential Financial's payout ratio is currently 119.73%.

Analyst Ratings Changes

Several analysts have commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Morgan Stanley raised their price objective on shares of Prudential Financial from $113.00 to $117.00 and gave the stock an "equal weight" rating in a research note on Monday, August 18th. Wells Fargo & Company dropped their price objective on shares of Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 16th. UBS Group 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, May 27th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Prudential Financial from $120.00 to $117.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 7th. One analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $122.08.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 1,675,978 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was purchased at an average cost of $28.64 per share, with a total value of $48,000,009.92. Following the completion of the acquisition, the insider directly owned 3,168,461 shares of the company's stock, valued at $90,744,723.04. This trade represents a 112.29% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is owned by company insiders.

Prudential Financial 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.