Occudo Quantitative Strategies LP Acquires New Holdings in Prudential Financial, Inc. (NYSE:PRU)

Occudo Quantitative Strategies LP acquired a new stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 19,089 shares of the financial services provider's stock, valued at approximately $2,263,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Avanza Fonder AB acquired a new stake in shares of Prudential Financial during the 4th quarter worth about $3,423,000. Gateway Investment Advisers LLC increased its stake in Prudential Financial by 56.1% in the fourth quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider's stock valued at $2,607,000 after purchasing an additional 7,907 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Prudential Financial by 3.9% during the 3rd quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider's stock worth $50,830,000 after buying an additional 15,695 shares during the last quarter. Asset Allocation & Management Company LLC acquired a new position in shares of Prudential Financial in the 4th quarter valued at $209,000. Finally, Czech National Bank grew its position in shares of Prudential Financial by 6.1% in the 4th quarter. Czech National Bank now owns 77,188 shares of the financial services provider's stock valued at $9,149,000 after buying an additional 4,464 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.

Prudential Financial Price Performance

Shares of NYSE:PRU traded up $0.37 during midday trading on Friday, hitting $107.37. 1,434,144 shares of the stock were exchanged, compared to its average volume of 1,620,073. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The company has a 50 day moving average price of $104.68 and a 200-day moving average price of $114.19. The stock has a market cap of $38.01 billion, a P/E ratio of 14.37, a PEG ratio of 0.98 and a beta of 1.07.

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

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Tuesday, May 20th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date is Tuesday, May 20th. Prudential Financial's payout ratio is 85.58%.

Analyst Ratings Changes

PRU has been the subject of several research analyst reports. BMO Capital Markets assumed coverage on shares of Prudential Financial in a research note on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 price objective for the company. Wells Fargo & Company raised their price target on Prudential Financial from $108.00 to $113.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. reduced their price objective 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. Barclays lowered their target price on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. Finally, Keefe, Bruyette & Woods reduced 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 analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $121.92.

Insider Buying and Selling at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was bought at an average cost of $28.72 per share, for a total transaction of $2,499,989.84. Following the completion of the purchase, the insider now directly owns 87,047 shares of the company's stock, valued at $2,499,989.84. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of the business's stock in a transaction 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 transaction, the executive vice president now directly owns 27,072 shares in the company, valued at approximately $2,869,090.56. The trade was a 18.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.