AQR Capital Management LLC Has $29.13 Million Stock Position in Prudential Financial, Inc. (NYSE:PRU)

AQR Capital Management LLC cut its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 50.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 245,771 shares of the financial services provider's stock after selling 250,571 shares during the period. AQR Capital Management LLC owned approximately 0.07% of Prudential Financial worth $29,131,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Prudential Financial during the fourth quarter worth approximately $115,878,000. Northern Trust Corp increased its position in Prudential Financial by 23.7% during the 4th quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider's stock worth $555,513,000 after purchasing an additional 897,916 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Prudential Financial by 176.8% during the fourth quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider's stock valued at $123,804,000 after acquiring an additional 665,180 shares during the last quarter. Raymond James Financial Inc. bought a new position in Prudential Financial during the 4th quarter worth $76,303,000. Finally, Marshall Wace LLP grew its holdings in Prudential Financial by 322.9% during the 4th quarter. Marshall Wace LLP now owns 711,102 shares of the financial services provider's stock worth $84,287,000 after acquiring an additional 542,964 shares during the period. 56.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on PRU shares. Wells Fargo & Company increased their target price on shares of Prudential Financial from $108.00 to $113.00 and gave the company an "equal weight" rating in a report on Tuesday. JPMorgan Chase & Co. cut their price target on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Barclays reduced their price objective on 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. Morgan Stanley lowered their price objective on Prudential Financial from $136.00 to $128.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. Finally, BMO Capital Markets initiated coverage on Prudential Financial in a report on Thursday, January 23rd. They set an "underperform" rating and a $101.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $122.15.

Prudential Financial Price Performance

Shares of PRU traded down $0.77 during midday trading on Tuesday, reaching $101.90. The stock had a trading volume of 1,787,100 shares, compared to its average volume of 1,608,986. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55. 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 firm's 50 day moving average price is $105.70 and its 200-day moving average price is $115.17. The company has a market capitalization of $36.12 billion, a P/E ratio of 13.64, 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 data on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share 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 business had revenue of $13.61 billion during the quarter, compared to analysts' expectations of $14.76 billion. During the same period in the previous year, the company earned $3.12 earnings per share. Prudential Financial's revenue for the quarter was down 38.2% on a year-over-year basis. On average, analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share 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 issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 5.30%. Prudential Financial's dividend payout ratio (DPR) is currently 85.58%.

Insiders Place Their Bets

In related news, EVP Andrew F. Sullivan sold 6,000 shares of Prudential Financial 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 completion of the sale, the executive vice president now directly 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential acquired 87,047 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $28.72 per share, with a total value of $2,499,989.84. Following the purchase, the insider now directly owns 87,047 shares in the company, valued at approximately $2,499,989.84. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate 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.