Ossiam Acquires 145,104 Shares of Prudential Financial, Inc. $PRU

Ossiam boosted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 419.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 179,713 shares of the financial services provider’s stock after purchasing an additional 145,104 shares during the period. Ossiam’s holdings in Prudential Financial were worth $18,643,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Summit Global Investments boosted its position in Prudential Financial by 1.3% in the second quarter. Summit Global Investments now owns 7,609 shares of the financial services provider’s stock valued at $817,000 after buying an additional 100 shares during the last quarter. Woodward Diversified Capital LLC boosted its holdings in shares of Prudential Financial by 1.4% in the 3rd quarter. Woodward Diversified Capital LLC now owns 7,662 shares of the financial services provider’s stock valued at $795,000 after acquiring an additional 103 shares during the last quarter. Pitcairn Co. raised its holdings in shares of Prudential Financial by 2.7% during the second quarter. Pitcairn Co. now owns 3,973 shares of the financial services provider’s stock worth $427,000 after purchasing an additional 104 shares during the last quarter. Moisand Fitzgerald Tamayo LLC lifted its position in Prudential Financial by 20.5% during the third quarter. Moisand Fitzgerald Tamayo LLC now owns 642 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 109 shares during the period. Finally, Pinnacle Wealth Planning Services Inc. grew its position in Prudential Financial by 2.4% during the 2nd quarter. Pinnacle Wealth Planning Services Inc. now owns 4,976 shares of the financial services provider’s stock worth $535,000 after purchasing an additional 115 shares during the period. 56.83% of the stock is owned by institutional investors.

Insider Buying and Selling at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential bought 1,406,739 shares of the stock in a transaction dated Friday, January 23rd. The shares were acquired at an average cost of $24.87 per share, for a total transaction of $34,985,598.93. Following the acquisition, the insider directly owned 7,709,624 shares in the company, valued at approximately $191,738,348.88. This trade represents a 22.32% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jacques Chappuis purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The stock was bought at an average cost of $100.97 per share, with a total value of $100,970.00. Following the acquisition, the executive vice president owned 1,000 shares of the company’s stock, valued at approximately $100,970. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 1,408,389 shares of company stock valued at $35,154,439 over the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on PRU shares. Evercore restated a “negative” rating on shares of Prudential Financial in a research note on Friday, March 6th. Weiss Ratings raised shares of Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Barclays dropped their price target on shares of Prudential Financial from $124.00 to $119.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Piper Sandler increased their target price on shares of Prudential Financial from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 23rd. Finally, JPMorgan Chase & Co. reduced their price target on Prudential Financial from $133.00 to $127.00 and set a “neutral” rating for the company in a report on Wednesday, February 4th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $115.22.

Prudential Financial Stock Down 0.3%

Shares of NYSE PRU opened at $92.02 on Friday. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $119.76. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The company’s 50-day simple moving average is $105.76 and its 200-day simple moving average is $106.59. The firm has a market cap of $32.02 billion, a price-to-earnings ratio of 9.20, a price-to-earnings-growth ratio of 1.13 and a beta of 0.98.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.37 by ($0.07). Prudential Financial had a return on equity of 16.32% and a net margin of 6.20%.The firm had revenue of $14.52 billion during the quarter, compared to analyst estimates of $14.48 billion. During the same quarter in the previous year, the firm posted $2.96 earnings per share. Equities analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Tuesday, February 17th were paid a dividend of $1.40 per share. This is a boost from Prudential Financial’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $5.60 annualized dividend and a yield of 6.1%. Prudential Financial’s dividend payout ratio is presently 56.00%.

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.