Oppenheimer & Co. Inc. Has $1.22 Million Stake in Prudential Financial, Inc. (NYSE:PRU)

Oppenheimer & Co. Inc. reduced its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 52.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,963 shares of the financial services provider's stock after selling 11,971 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Prudential Financial were worth $1,224,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC raised its position in Prudential Financial by 3.7% in the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider's stock valued at $436,000 after purchasing an additional 133 shares during the period. IFP Advisors Inc raised its position in Prudential Financial by 44.0% in the fourth quarter. IFP Advisors Inc now owns 5,638 shares of the financial services provider's stock valued at $673,000 after purchasing an additional 1,722 shares during the period. Proficio Capital Partners LLC purchased a new position in Prudential Financial in the fourth quarter valued at about $29,998,000. QRG Capital Management Inc. raised its position in Prudential Financial by 10.3% in the fourth quarter. QRG Capital Management Inc. now owns 54,902 shares of the financial services provider's stock valued at $6,508,000 after purchasing an additional 5,123 shares during the period. Finally, Verus Capital Partners LLC acquired a new stake in shares of Prudential Financial during the fourth quarter valued at about $202,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Price Performance

NYSE:PRU traded up $0.33 during mid-day trading on Friday, hitting $107.07. The company's stock had a trading volume of 2,153,200 shares, compared to its average volume of 1,654,185. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $37.90 billion, a price-to-earnings ratio of 16.97, a P/E/G ratio of 1.02 and a beta of 1.07. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55. The stock has a fifty day moving average of $104.09 and a 200-day moving average of $109.61.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.11. The firm had revenue of $13.61 billion for the quarter, compared to analysts' expectations of $14.76 billion. Prudential Financial had a net margin of 3.84% and a return on equity of 15.84%. The company's quarterly revenue was down 38.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.12 earnings per share. As a group, equities analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, May 20th were paid a dividend of $1.35 per share. The ex-dividend date was Tuesday, May 20th. This represents a $5.40 annualized dividend and a dividend yield of 5.04%. Prudential Financial's dividend payout ratio (DPR) is currently 85.58%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PRU shares. Wall Street Zen upgraded Prudential Financial from a "sell" rating to a "hold" rating in a research note on Monday, June 16th. Morgan Stanley lifted their target price on Prudential Financial from $108.00 to $117.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Keefe, Bruyette & Woods decreased their target price on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating for the company in a research note on Wednesday, May 7th. JPMorgan Chase & Co. decreased their target price on Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Finally, Barclays decreased their target price on Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Prudential Financial currently has a consensus rating of "Hold" and a consensus target price of $120.15.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of Prudential Financial stock in a transaction on Monday, June 16th. The shares were purchased at an average cost of $28.64 per share, with a total value of $48,000,009.92. Following the completion of the purchase, the insider now owns 3,168,461 shares in the company, valued at $90,744,723.04. The trade was a 112.29% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is owned by insiders.

About Prudential Financial

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.