Oxbow Advisors LLC Acquires Shares of 57,985 Prudential Financial, Inc. $PRU

Key Points

• Oxbow Advisors LLC opened a new position in Prudential Financial, buying 57,985 shares valued at about $6.55 million in the fourth quarter.
• Prudential’s latest quarterly results topped expectations, with EPS of $3.61 versus the $3.09 consensus and revenue of $15.23 billion versus estimates of $14.10 billion.
• Analyst sentiment remains cautious: several firms cut price targets or downgraded the stock, and MarketBeat shows an overall consensus rating of “Reduce” with a target price around $99.92.

Oxbow Advisors LLC bought a new position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 57,985 shares of the financial services provider's stock, valued at approximately $6,545,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Salomon & Ludwin LLC lifted its holdings in Prudential Financial by 98.3% during the 4th 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 stake in shares of Prudential Financial in the 4th quarter valued at $28,000. Coston McIsaac & Partners raised its position in shares of Prudential Financial by 93.4% during the fourth quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider's stock worth $29,000 after acquiring an additional 128 shares during the last quarter. Wealth Watch Advisors INC bought a new stake in shares of Prudential Financial during the third quarter worth $30,000. Finally, Dunhill Financial LLC lifted its stake in shares of Prudential Financial by 982.8% during the fourth quarter. Dunhill Financial LLC now owns 314 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 285 shares during the period. Institutional investors and hedge funds own 56.83% of the company's stock.

Prudential Financial Stock Performance

Shares of PRU stock opened at $100.76 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a 52 week low of $91.89 and a 52 week high of $119.76. The company's 50 day moving average price is $96.87 and its two-hundred day moving average price is $104.57. The company has a market capitalization of $34.96 billion, a P/E ratio of 10.37, a price-to-earnings-growth ratio of 1.83 and a beta of 0.86.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.52. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. The company had revenue of $15.23 billion during the quarter, compared to analysts' expectations of $14.10 billion. During the same quarter in the prior year, the company earned $3.29 earnings per share. On average, analysts expect that Prudential Financial, Inc. will post 13.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Piper Sandler lowered their price objective on Prudential Financial from $105.00 to $99.00 and set a "neutral" rating for the company in a research report on Wednesday, April 22nd. Wells Fargo & Company reduced their target price on shares of Prudential Financial from $95.00 to $93.00 and set an "underweight" rating on the stock in a research note on Tuesday, May 5th. Weiss Ratings downgraded shares of Prudential Financial from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, March 13th. Wall Street Zen lowered shares of Prudential Financial from a "buy" rating to a "hold" rating in a report on Saturday, January 10th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Prudential Financial from $133.00 to $127.00 and set a "neutral" rating for the company in a report on Wednesday, February 4th. Nine analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $99.92.

Insider Transactions at Prudential Financial

In other news, Director Thomas D. Stoddard purchased 250 shares of the business's stock in a transaction dated Tuesday, February 17th. The shares were bought at an average cost of $102.97 per share, for a total transaction of $25,742.50. Following the completion of the acquisition, the director directly owned 250 shares in the company, valued at approximately $25,742.50. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph J. Wolk acquired 400 shares of Prudential Financial stock in a transaction dated Wednesday, February 11th. The shares were purchased at an average cost of $105.32 per share, with a total value of $42,128.00. Following the completion of the transaction, the director directly owned 400 shares of the company's stock, valued at $42,128. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.05% of the stock is currently owned by corporate insiders.

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.

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