Worldquant Millennium Advisors LLC Invests $14.36 Million in Prudential Financial, Inc. (NYSE:PRU)

Worldquant Millennium Advisors LLC purchased a new position in Prudential Financial, Inc. (NYSE:PRU - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 121,108 shares of the financial services provider's stock, valued at approximately $14,355,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Centricity Wealth Management LLC purchased a new position in Prudential Financial during the fourth quarter worth about $29,000. CGC Financial Services LLC raised its stake in Prudential Financial by 82.1% during the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider's stock worth $33,000 after purchasing an additional 124 shares during the period. Wingate Wealth Advisors Inc. purchased a new position in Prudential Financial during the fourth quarter worth about $33,000. Hopwood Financial Services Inc. purchased a new position in Prudential Financial during the fourth quarter worth about $34,000. Finally, Lee Danner & Bass Inc. purchased a new position in Prudential Financial during the fourth quarter worth about $35,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Wells Fargo & Company lifted their price target on shares of Prudential Financial from $108.00 to $113.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. UBS Group dropped their price target on shares of Prudential Financial from $130.00 to $122.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Barclays dropped their price target on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. 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 for the company in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Prudential Financial has a consensus rating of "Hold" and an average price target of $121.08.

Prudential Financial Stock Up 1.7%

Shares of PRU stock traded up $1.73 during trading on Tuesday, reaching $103.65. The company's stock had a trading volume of 276,960 shares, compared to its average volume of 1,837,987. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The stock's 50-day moving average price is $104.14 and its 200 day moving average price is $113.12. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market capitalization of $36.69 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 0.98 and a beta of 1.07.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.18 by $0.11. Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. The company had revenue of $13.61 billion during the quarter, compared to the consensus estimate of $14.76 billion. During the same quarter in the previous year, the firm earned $3.12 earnings per share. The firm's quarterly revenue was down 38.2% on a year-over-year basis. On average, research analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Tuesday, May 20th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $5.40 dividend on an annualized basis and a yield of 5.21%. Prudential Financial's dividend payout ratio is currently 85.58%.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of Prudential Financial stock in a transaction dated Tuesday, March 25th. The stock was acquired at an average price of $28.52 per share, for a total transaction of $1,500,009.40. Following the transaction, the insider now owns 139,987 shares of the company's stock, valued at $3,992,429.24. This represents a 60.18% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andrew F. Sullivan sold 6,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the sale, the executive vice president now owns 27,072 shares of the company's stock, valued at $2,869,090.56. This represents a 18.14% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

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.