Ossiam Increases Holdings in Prudential Financial, Inc. (NYSE:PRU)

Ossiam lifted its position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 492.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 113,060 shares of the financial services provider's stock after acquiring an additional 93,991 shares during the quarter. Ossiam's holdings in Prudential Financial were worth $13,401,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Grove Bank & Trust grew its holdings in Prudential Financial by 65.9% in the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 87 shares during the period. Centricity Wealth Management LLC acquired a new stake in Prudential Financial in the 4th quarter valued at $29,000. CGC Financial Services LLC increased its holdings in Prudential Financial by 82.1% in the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider's stock worth $33,000 after acquiring an additional 124 shares in the last quarter. Wingate Wealth Advisors Inc. purchased a new position in Prudential Financial during the fourth quarter valued at $33,000. Finally, Hopwood Financial Services Inc. acquired a new stake in Prudential Financial in the 4th quarter worth about $34,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Trading Up 1.4 %

Shares of PRU traded up $1.40 during trading on Wednesday, reaching $101.61. 1,565,236 shares of the company traded hands, compared to its average volume of 1,603,608. The stock has a 50-day simple moving average of $107.17 and a 200-day simple moving average of $116.56. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55. The stock has a market cap of $36.01 billion, a PE ratio of 13.60, a price-to-earnings-growth ratio of 0.98 and a beta of 1.11.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. On average, analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 5.31%. This is a boost from Prudential Financial's previous quarterly dividend of $1.30. The ex-dividend date was Tuesday, February 18th. Prudential Financial's dividend payout ratio (DPR) is 72.29%.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential acquired 52,595 shares of the firm's stock in a transaction dated Tuesday, March 25th. The stock was acquired at an average price of $28.52 per share, for a total transaction of $1,500,009.40. Following the purchase, the insider now owns 139,987 shares of the company's stock, valued at $3,992,429.24. This represents a 60.18 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of the company's 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 sale, the executive vice president now owns 27,072 shares in the company, valued at $2,869,090.56. The trade was a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.25% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Morgan Stanley reduced their target price on shares of 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. Keefe, Bruyette & Woods cut their price objective on shares of Prudential Financial from $125.00 to $120.00 and set a "market perform" rating for the company in a report on Wednesday, April 9th. Wells Fargo & Company cut their price target on Prudential Financial from $118.00 to $108.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. BMO Capital Markets began coverage on Prudential Financial in a research note on Thursday, January 23rd. They set an "underperform" rating and a $101.00 price objective on the stock. Finally, UBS Group reduced their price target on Prudential Financial from $130.00 to $122.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Prudential Financial has an average rating of "Hold" and a consensus price target of $121.85.

Prudential Financial 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.