Arrowstreet Capital Limited Partnership Has $249.77 Million Stock Position in Prudential Financial, Inc. $PRU

Arrowstreet Capital Limited Partnership boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 95.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,556,748 shares of the financial services provider’s stock after buying an additional 1,247,371 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.74% of Prudential Financial worth $249,769,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of PRU. Sei Investments Co. lifted its stake in shares of Prudential Financial by 81.8% in the first quarter. Sei Investments Co. now owns 446,647 shares of the financial services provider’s stock valued at $43,634,000 after buying an additional 200,947 shares during the period. State of Wyoming raised its stake in shares of Prudential Financial by 11.9% in the first quarter. State of Wyoming now owns 4,265 shares of the financial services provider’s stock valued at $417,000 after purchasing an additional 454 shares in the last quarter. Cetera Investment Advisers raised its position in Prudential Financial by 3.2% in the first quarter. Cetera Investment Advisers now owns 225,939 shares of the financial services provider’s stock worth $22,072,000 after purchasing an additional 7,082 shares in the last quarter. Arvest Bank Trust Division boosted its stake in shares of Prudential Financial by 1.2% in the 1st quarter. Arvest Bank Trust Division now owns 21,323 shares of the financial services provider’s stock valued at $2,083,000 after purchasing an additional 261 shares in the last quarter. Finally, CI Investments Inc. increased its holdings in Prudential Financial by 19.0% during the 1st quarter. CI Investments Inc. now owns 55,039 shares of the financial services provider’s stock valued at $5,377,000 after purchasing an additional 8,799 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Stock Up 1.7%

PRU stock opened at $119.83 on Friday. Prudential Financial, Inc. has a 1-year low of $91.89 and a 1-year high of $120.58. The business’s 50 day simple moving average is $108.91 and its 200 day simple moving average is $104.36. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $41.58 billion, a PE ratio of 12.33, a PEG ratio of 2.35 and a beta of 0.85.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, beating the consensus estimate of $3.09 by $0.52. The firm had revenue of $15.23 billion for the quarter, compared to the consensus estimate of $14.10 billion. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. During the same period in the previous year, the company earned $3.29 earnings per share. As a group, research analysts anticipate that Prudential Financial, Inc. will post 13.75 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, May 26th were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend was Tuesday, May 26th. Prudential Financial’s dividend payout ratio is currently 57.61%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Mizuho raised their price target on shares of Prudential Financial from $101.00 to $109.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Weiss Ratings upgraded shares of Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. BMO Capital Markets lowered their price target on shares of Prudential Financial from $91.00 to $87.00 and set an “underperform” rating for the company in a research report on Thursday, April 23rd. JPMorgan Chase & Co. boosted their target price on Prudential Financial from $117.00 to $129.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, UBS Group lowered their price target on Prudential Financial from $105.00 to $98.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, Prudential Financial has a consensus rating of “Reduce” and an average price target of $105.46.

About Prudential Financial

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.