Quantbot Technologies LP Has $6.48 Million Position in Prudential Financial, Inc. $PRU

Key Points

• Quantbot Technologies LP increased its stake in Prudential Financial by 278.6%, owning 58,060 shares worth $6.48 million after purchasing an additional 42,726 shares.
• Institutional investors now hold 56.83% of Prudential Financial's stock, with several others, including Meeder Asset Management and Clearstead Trust, significantly increasing their positions.
• Recent earnings showed Prudential Financial posted $3.58 EPS for the quarter, exceeding analyst expectations and reflecting a 2.5% decline in revenue compared to the previous year.

Quantbot Technologies LP raised its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 278.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,060 shares of the financial services provider's stock after purchasing an additional 42,726 shares during the period. Quantbot Technologies LP's holdings in Prudential Financial were worth $6,484,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. increased its holdings in shares of Prudential Financial by 90.2% in the first quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 111 shares during the last quarter. Cheviot Value Management LLC acquired a new position in shares of Prudential Financial in the first quarter valued at $26,000. North Capital Inc. acquired a new position in shares of Prudential Financial in the first quarter valued at about $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Prudential Financial in the first quarter valued at about $30,000. Finally, Clearstead Trust LLC grew its stake in shares of Prudential Financial by 350.8% in the first quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 207 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PRU has been the topic of several research reports. Morgan Stanley upped their price target on shares of Prudential Financial from $113.00 to $117.00 and gave the company an "equal weight" rating in a research note on Monday. Wells Fargo & Company decreased their price target 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. Piper Sandler decreased their price target on shares of Prudential Financial from $109.00 to $108.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 16th. UBS Group decreased 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 decreased 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 sell rating, ten have assigned a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $122.08.

Prudential Financial Trading Up 0.7%

PRU opened at $106.66 on Tuesday. The stock has a market capitalization of $37.55 billion, a price-to-earnings ratio of 23.65, a P/E/G ratio of 0.94 and a beta of 1.07. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55. The company has a 50-day simple moving average of $104.98 and a 200 day simple moving average of $106.07.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its earnings results 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. The firm had revenue of $13.50 billion during the quarter, compared to analysts' expectations of $13.47 billion. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The business's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.39 earnings per share. Analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th will be issued a $1.35 dividend. 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 5.1%. Prudential Financial's dividend payout ratio is 119.73%.

Insider Activity at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential bought 1,675,978 shares of the company's stock in a transaction dated Monday, June 16th. The stock was purchased at an average price of $28.64 per share, with a total value of $48,000,009.92. Following the completion of the acquisition, the insider owned 3,168,461 shares of the company's stock, valued at $90,744,723.04. The trade was a 112.29% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.25% of the company's stock.

Prudential Financial Company 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.

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