Ossiam Grows Stock Position in Prudential Financial, Inc. $PRU

Ossiam raised its position in Prudential Financial, Inc. (NYSE:PRU) by 419.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 179,713 shares of the financial services provider’s stock after buying an additional 145,104 shares during the quarter. Ossiam owned about 0.05% of Prudential Financial worth $18,643,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PRU. Wealth Watch Advisors INC bought a new stake in Prudential Financial in the 3rd quarter valued at about $30,000. Chilton Capital Management LLC raised its holdings in Prudential Financial by 146.5% during the 3rd quarter. Chilton Capital Management LLC now owns 350 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 208 shares during the period. Darwin Wealth Management LLC purchased a new stake in shares of Prudential Financial during the second quarter worth $36,000. AlphaCore Capital LLC bought a new position in shares of Prudential Financial in the second quarter worth $39,000. Finally, Capital A Wealth Management LLC grew its position in shares of Prudential Financial by 4,600.0% in the second quarter. Capital A Wealth Management LLC now owns 376 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 368 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Analyst Upgrades and Downgrades

PRU has been the topic of a number of recent research reports. Weiss Ratings raised Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. UBS Group upped their price target on Prudential Financial from $111.00 to $116.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. JPMorgan Chase & Co. cut their price objective on shares of Prudential Financial from $133.00 to $127.00 and set a “neutral” rating for the company in a research report on Wednesday, February 4th. Wall Street Zen cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Finally, Wells Fargo & Company lowered shares of Prudential Financial from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $115.00 to $103.00 in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $115.22.

Prudential Financial Trading Down 0.3%

Shares of PRU opened at $92.02 on Friday. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $119.76. The company has a market capitalization of $32.02 billion, a P/E ratio of 9.20, a P/E/G ratio of 1.13 and a beta of 0.98. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. The firm’s 50 day simple moving average is $105.76 and its 200 day simple moving average is $106.59.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 EPS for the quarter, missing analysts’ consensus estimates of $3.37 by ($0.07). The company had revenue of $14.52 billion during the quarter, compared to analysts’ expectations of $14.48 billion. Prudential Financial had a return on equity of 16.32% and a net margin of 6.20%.During the same period in the prior year, the firm earned $2.96 EPS. Sell-side analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

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

Insider Transactions at Prudential Financial

In other news, EVP Jacques Chappuis purchased 1,000 shares of the company’s stock in a transaction on Friday, February 6th. The stock was purchased at an average price of $100.97 per share, with a total value of $100,970.00. Following the completion of the purchase, the executive vice president directly owned 1,000 shares in the company, valued at approximately $100,970. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas D. Stoddard acquired 250 shares of Prudential Financial stock in a transaction dated Tuesday, February 17th. The shares were purchased at an average price of $102.97 per share, for a total transaction of $25,742.50. Following the completion of the transaction, the director directly owned 250 shares in the company, valued at approximately $25,742.50. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have acquired 1,408,389 shares of company stock worth $35,154,439. Company insiders own 0.25% of the company’s stock.

Prudential Financial Company Profile

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.