Ostrum Asset Management Takes $1.19 Million Position in Prudential Financial Inc (PRU)

Ostrum Asset Management bought a new position in shares of Prudential Financial Inc (NYSE:PRU) during the 1st quarter, HoldingsChannel.com reports. The fund bought 11,501 shares of the financial services provider’s stock, valued at approximately $1,191,000.

Other institutional investors have also recently bought and sold shares of the company. Truewealth LLC bought a new position in shares of Prudential Financial during the 4th quarter worth approximately $105,000. Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of Prudential Financial during the 4th quarter worth approximately $105,000. We Are One Seven LLC purchased a new stake in shares of Prudential Financial during the 4th quarter worth approximately $111,000. Virtue Capital Management LLC purchased a new stake in shares of Prudential Financial during the 4th quarter worth approximately $123,000. Finally, Vestpro Financial Partners Inc. dba CPF Texas purchased a new stake in shares of Prudential Financial during the 4th quarter worth approximately $156,000. 64.46% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have recently issued reports on PRU. Keefe, Bruyette & Woods restated a “buy” rating and set a $125.00 price target on shares of Prudential Financial in a research note on Thursday, April 12th. Wells Fargo & Co restated a “hold” rating and set a $111.00 price target on shares of Prudential Financial in a research note on Thursday, May 3rd. Bank of America began coverage on shares of Prudential Financial in a research note on Monday, March 26th. They set a “buy” rating and a $117.00 price target for the company. Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $111.00 price target for the company in a research note on Monday, June 4th. Finally, Deutsche Bank decreased their price target on shares of Prudential Financial from $125.00 to $113.00 and set a “hold” rating for the company in a research note on Friday, May 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $114.75.

Prudential Financial stock opened at $99.76 on Wednesday. Prudential Financial Inc has a 1-year low of $94.51 and a 1-year high of $127.14. The company has a market capitalization of $42.35 billion, a P/E ratio of 9.43, a price-to-earnings-growth ratio of 0.98 and a beta of 1.46. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.35.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, May 2nd. The financial services provider reported $3.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.98 by $0.10. Prudential Financial had a net margin of 13.57% and a return on equity of 9.25%. The business had revenue of $12.88 billion during the quarter, compared to analyst estimates of $13.68 billion. During the same period in the previous year, the business earned $2.79 EPS. sell-side analysts forecast that Prudential Financial Inc will post 12.15 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Tuesday, May 22nd will be paid a $0.90 dividend. The ex-dividend date of this dividend is Monday, May 21st. This represents a $3.60 dividend on an annualized basis and a yield of 3.61%. Prudential Financial’s dividend payout ratio is 34.03%.

About Prudential Financial

Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through U.S. Individual Solutions, U.S. Workplace Solutions, Investment Management, and International Insurance divisions.

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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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