Integrated Quantitative Investments LLC Takes $321,000 Position in Prudential Financial, Inc. (NYSE:PRU)

Integrated Quantitative Investments LLC purchased a new position in Prudential Financial, Inc. (NYSE:PRU - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,707 shares of the financial services provider's stock, valued at approximately $321,000.

Several other institutional investors and hedge funds also recently bought and sold shares of PRU. Norges Bank purchased a new position in Prudential Financial during the 4th quarter valued at $115,878,000. Nordea Investment Management AB grew its holdings in shares of Prudential Financial by 176.8% in the fourth quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider's stock worth $123,804,000 after purchasing an additional 665,180 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Prudential Financial in the 4th quarter worth about $76,303,000. Amundi lifted its holdings in Prudential Financial by 32.7% during the 4th quarter. Amundi now owns 1,535,514 shares of the financial services provider's stock valued at $181,851,000 after buying an additional 378,266 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Prudential Financial by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider's stock worth $1,047,872,000 after acquiring an additional 341,787 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Stock Performance

Prudential Financial stock traded up $0.22 during mid-day trading on Friday, hitting $98.70. The company had a trading volume of 2,635,405 shares, compared to its average volume of 1,597,128. The company has a market capitalization of $34.98 billion, a price-to-earnings ratio of 13.21, a P/E/G ratio of 0.98 and a beta of 1.11. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55. The company's fifty day moving average is $108.98 and its 200-day moving average is $117.58. 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 released its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. Equities research analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 5.47%. This is an increase from Prudential Financial's previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, February 18th. Prudential Financial's dividend payout ratio (DPR) is presently 72.29%.

Wall Street Analysts Forecast Growth

Several research firms have commented on PRU. 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 report on Friday. BMO Capital Markets initiated coverage on Prudential Financial in a report on Thursday, January 23rd. They issued an "underperform" rating and a $101.00 price objective for the company. UBS Group dropped their target price on shares of Prudential Financial from $130.00 to $122.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. 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. Finally, Wells Fargo & Company cut their price objective on shares of Prudential Financial from $118.00 to $108.00 and set an "equal weight" rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $122.77.

Insider Transactions at Prudential Financial

In related news, EVP Andrew F. Sullivan sold 6,000 shares of the business's stock in a transaction dated 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 directly owns 27,072 shares in the company, valued at approximately $2,869,090.56. The trade was a 18.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of the business's stock in a transaction on Tuesday, March 25th. The stock was acquired at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the acquisition, the insider now owns 139,987 shares in the company, valued at $3,992,429.24. The trade was a 60.18 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.31% 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.