Quantinno Capital Management LP Acquires 5,720 Shares of Prudential Financial, Inc. (NYSE:PRU)

Quantinno Capital Management LP increased its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 7.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 79,978 shares of the financial services provider's stock after purchasing an additional 5,720 shares during the quarter. Quantinno Capital Management LP's holdings in Prudential Financial were worth $9,685,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PRU. Ashton Thomas Securities LLC acquired a new stake in shares of Prudential Financial in the third quarter valued at approximately $31,000. Quarry LP lifted its holdings in Prudential Financial by 376.3% during the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 222 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in Prudential Financial during the second quarter worth $38,000. Tompkins Financial Corp increased its holdings in shares of Prudential Financial by 61.7% in the third quarter. Tompkins Financial Corp now owns 367 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 140 shares during the last quarter. Finally, GHP Investment Advisors Inc. lifted its stake in shares of Prudential Financial by 235.4% during the 3rd quarter. GHP Investment Advisors Inc. now owns 379 shares of the financial services provider's stock worth $46,000 after buying an additional 266 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the firm's stock in a transaction that occurred on Tuesday, October 8th. The stock was acquired at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the acquisition, the insider now directly owns 4,208,549 shares of the company's stock, valued at approximately $116,071,781.42. This trade represents a 6.61 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently commented on PRU. Barclays upped their price target on shares of Prudential Financial from $118.00 to $119.00 and gave the company an "equal weight" rating in a research note on Friday, November 1st. TD Cowen lifted their price target on Prudential Financial from $130.00 to $133.00 and gave the stock a "hold" rating in a report on Wednesday, November 27th. Bank of America upped their price objective on Prudential Financial from $109.00 to $118.00 and gave the company a "neutral" rating in a report on Thursday, October 10th. Argus raised Prudential Financial to a "strong-buy" rating in a report on Thursday, August 8th. Finally, Morgan Stanley lowered their price target on shares of Prudential Financial from $123.00 to $122.00 and set an "equal weight" rating on the stock in a research report on Monday, August 19th. Eleven research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Prudential Financial currently has an average rating of "Hold" and an average target price of $125.92.

Prudential Financial Price Performance

Shares of Prudential Financial stock traded down $0.73 during trading on Friday, reaching $126.56. 1,391,124 shares of the company's stock were exchanged, compared to its average volume of 1,494,196. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. Prudential Financial, Inc. has a 1-year low of $98.24 and a 1-year high of $130.55. The company has a market cap of $45.06 billion, a P/E ratio of 11.25, a PEG ratio of 0.91 and a beta of 1.29. The firm's 50-day moving average price is $124.80 and its 200 day moving average price is $120.31.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping analysts' consensus estimates of $3.47 by $0.01. The firm had revenue of $19.48 billion during the quarter, compared to analysts' expectations of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same quarter in the prior year, the business earned $3.44 earnings per share. As a group, research analysts anticipate that Prudential Financial, Inc. will post 13.35 earnings per share for the current year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial's payout ratio is 46.22%.

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.