Quantinno Capital Management LP Has $11.47 Million Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Quantinno Capital Management LP increased its position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 21.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 96,761 shares of the financial services provider's stock after purchasing an additional 16,783 shares during the period. Quantinno Capital Management LP's holdings in Prudential Financial were worth $11,469,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PRU. Vanguard Group Inc. lifted its holdings in Prudential Financial by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 41,850,558 shares of the financial services provider's stock valued at $4,960,547,000 after buying an additional 220,671 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Prudential Financial by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 8,856,360 shares of the financial services provider's stock valued at $1,050,635,000 after acquiring an additional 193,681 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Prudential Financial by 23.7% in the fourth quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider's stock valued at $555,513,000 after purchasing an additional 897,916 shares during the period. Bank of New York Mellon Corp grew its stake in Prudential Financial by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,454,278 shares of the financial services provider's stock worth $290,906,000 after purchasing an additional 6,938 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Prudential Financial by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,409,521 shares of the financial services provider's stock worth $285,601,000 after purchasing an additional 26,210 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PRU shares. Morgan Stanley reduced their price target on shares of Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. Piper Sandler lowered their target price on Prudential Financial from $110.00 to $109.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Barclays cut their price target on Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. Wells Fargo & Company upped their price objective 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. Finally, JPMorgan Chase & Co. cut their target price on Prudential Financial from $128.00 to $126.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $121.92.

Prudential Financial Trading Up 0.3%

PRU traded up $0.37 during trading on Friday, hitting $107.37. 1,434,144 shares of the company's stock were exchanged, compared to its average volume of 1,619,649. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The stock has a 50 day moving average price of $104.71 and a 200 day moving average price of $114.06. The firm has a market cap of $38.01 billion, a P/E ratio of 14.37, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68.

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

Prudential Financial Announces Dividend

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 given a dividend of $1.35 per share. 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 5.03%. Prudential Financial's dividend payout ratio (DPR) is presently 85.58%.

Insider Transactions at Prudential Financial

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

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.