Ossiam Lowers Stake in Prudential Financial, Inc. (NYSE:PRU)

Ossiam cut its position in shares of Prudential Financial, Inc. (NYSE:PRUFree Report) by 72.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,293 shares of the financial services provider’s stock after selling 118,657 shares during the quarter. Ossiam’s holdings in Prudential Financial were worth $3,665,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PRU. Oxler Private Wealth LLC lifted its holdings in Prudential Financial by 1.1% in the fourth quarter. Oxler Private Wealth LLC now owns 10,044 shares of the financial services provider’s stock worth $999,000 after purchasing an additional 114 shares during the period. Garde Capital Inc. lifted its holdings in Prudential Financial by 4.8% in the fourth quarter. Garde Capital Inc. now owns 2,520 shares of the financial services provider’s stock worth $251,000 after purchasing an additional 116 shares during the period. CWM LLC lifted its holdings in Prudential Financial by 1.3% in the first quarter. CWM LLC now owns 9,269 shares of the financial services provider’s stock worth $767,000 after purchasing an additional 118 shares during the period. Moneta Group Investment Advisors LLC lifted its holdings in Prudential Financial by 5.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,451 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 119 shares during the period. Finally, McIlrath & Eck LLC lifted its holdings in Prudential Financial by 30.6% in the fourth quarter. McIlrath & Eck LLC now owns 512 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 120 shares during the period. 54.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. TheStreet raised shares of Prudential Financial from a “c” rating to a “b” rating in a report on Tuesday, August 1st. Piper Sandler upped their price target on shares of Prudential Financial from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, August 3rd. VNET Group reissued a “maintains” rating on shares of Prudential Financial in a report on Monday, May 15th. Morgan Stanley reissued an “equal weight” rating and issued a $102.00 price target on shares of Prudential Financial in a report on Wednesday, August 2nd. Finally, StockNews.com started coverage on shares of Prudential Financial in a report on Thursday, August 17th. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $103.70.

Read Our Latest Stock Analysis on Prudential Financial

Prudential Financial Price Performance

PRU stock opened at $95.09 on Friday. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.64. Prudential Financial, Inc. has a one year low of $75.37 and a one year high of $110.96. The firm has a market capitalization of $34.52 billion, a PE ratio of 31.70, a P/E/G ratio of 0.75 and a beta of 1.41. The firm has a 50-day moving average of $93.83 and a two-hundred day moving average of $88.09.

Prudential Financial (NYSE:PRUGet Free Report) last posted its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $2.94 EPS for the quarter, missing analysts’ consensus estimates of $3.04 by ($0.10). The firm had revenue of $12.64 billion for the quarter, compared to analysts’ expectations of $12.68 billion. Prudential Financial had a net margin of 1.82% and a return on equity of 15.73%. During the same period in the prior year, the company posted $1.74 earnings per share. On average, analysts forecast that Prudential Financial, Inc. will post 11.82 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Tuesday, August 22nd will be issued a $1.25 dividend. The ex-dividend date is Monday, August 21st. This represents a $5.00 dividend on an annualized basis and a dividend yield of 5.26%. Prudential Financial’s dividend payout ratio is 166.67%.

About Prudential Financial

(Free Report)

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 Annuities, Individual Life, Assurance IQ, and International Businesses segments.

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

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