Healthcare of Ontario Pension Plan Trust Fund Has $20.31 Million Holdings in Prudential Financial, Inc. $PRU

Healthcare of Ontario Pension Plan Trust Fund grew its stake in Prudential Financial, Inc. (NYSE:PRU) by 81.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 207,866 shares of the financial services provider’s stock after purchasing an additional 93,306 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.06% of Prudential Financial worth $20,306,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hilltop Holdings Inc. grew its position in Prudential Financial by 7.9% during the first quarter. Hilltop Holdings Inc. now owns 17,964 shares of the financial services provider’s stock worth $1,755,000 after buying an additional 1,311 shares in the last quarter. Modern Wealth Management LLC raised its holdings in Prudential Financial by 11.3% in the 1st quarter. Modern Wealth Management LLC now owns 3,915 shares of the financial services provider’s stock valued at $384,000 after acquiring an additional 399 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Prudential Financial by 95.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,556,748 shares of the financial services provider’s stock worth $249,769,000 after acquiring an additional 1,247,371 shares during the period. Sei Investments Co. increased its position in shares of Prudential Financial by 81.8% during the first quarter. Sei Investments Co. now owns 446,647 shares of the financial services provider’s stock valued at $43,634,000 after purchasing an additional 200,947 shares during the period. Finally, State of Wyoming increased its position in shares of Prudential Financial by 11.9% during 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 during the period. Institutional investors own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

PRU has been the subject of several research reports. Wells Fargo & Company raised their target price on Prudential Financial from $100.00 to $103.00 and gave the stock an “underweight” rating in a research report on Thursday, July 9th. Jefferies Financial Group raised their price objective on shares of Prudential Financial from $105.00 to $110.00 and gave the stock a “hold” rating in a report on Friday, July 10th. Bank of America decreased their target price on shares of Prudential Financial from $112.00 to $104.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. Zacks Research raised shares of Prudential Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, June 12th. Finally, Wall Street Zen raised Prudential Financial from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $105.46.

Prudential Financial Stock Up 1.6%

Shares of NYSE:PRU opened at $121.83 on Tuesday. The company’s fifty day moving average is $109.28 and its 200-day moving average is $104.30. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a 52 week low of $91.89 and a 52 week high of $122.57. The company has a market capitalization of $42.28 billion, a PE ratio of 12.53, a P/E/G ratio of 2.40 and a beta of 0.85.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.52. The business had revenue of $15.23 billion during the quarter, compared to analysts’ expectations of $14.10 billion. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. During the same quarter last year, the company posted $3.29 EPS. Equities research analysts predict that Prudential Financial, Inc. will post 13.75 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, May 26th were paid a $1.40 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.6%. Prudential Financial’s payout ratio is 57.61%.

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.