Oddo BHF Asset Management Sas Grows Position in Prudential Financial, Inc. $PRU

Oddo BHF Asset Management Sas raised its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 37.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,588 shares of the financial services provider’s stock after buying an additional 23,149 shares during the quarter. Oddo BHF Asset Management Sas’ holdings in Prudential Financial were worth $9,661,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of PRU. Norges Bank acquired a new position in shares of Prudential Financial during the 4th quarter valued at about $140,530,000. Marshall Wace LLP boosted its position in shares of Prudential Financial by 230.3% during the 4th quarter. Marshall Wace LLP now owns 1,374,966 shares of the financial services provider’s stock valued at $155,206,000 after acquiring an additional 958,672 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Prudential Financial by 183.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 804,316 shares of the financial services provider’s stock valued at $83,440,000 after acquiring an additional 520,425 shares during the last quarter. Morgan Stanley boosted its position in shares of Prudential Financial by 6.7% during the 4th quarter. Morgan Stanley now owns 6,649,202 shares of the financial services provider’s stock valued at $750,562,000 after acquiring an additional 420,081 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Prudential Financial by 209.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 520,025 shares of the financial services provider’s stock valued at $55,871,000 after acquiring an additional 351,849 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Piper Sandler boosted their price target on shares of Prudential Financial from $99.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Argus cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, June 9th. BMO Capital Markets decreased their target price on shares of Prudential Financial from $91.00 to $87.00 and set an “underperform” rating on the stock in a research report on Thursday, April 23rd. Morgan Stanley reaffirmed an “underweight” rating and issued a $92.00 target price (down from $106.00) on shares of Prudential Financial in a research report on Monday, May 4th. Finally, Jefferies Financial Group cut shares of Prudential Financial from a “buy” rating to a “hold” rating and decreased their target price for the company from $124.00 to $98.00 in a research report on Wednesday, April 22nd. Eleven equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $101.50.

Prudential Financial Stock Up 0.2%

Shares of PRU opened at $108.69 on Tuesday. The stock has a market capitalization of $37.72 billion, a PE ratio of 11.18, a P/E/G ratio of 1.97 and a beta of 0.86. Prudential Financial, Inc. has a 1 year low of $91.89 and a 1 year high of $119.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The company’s 50-day simple moving average is $100.75 and its 200-day simple moving average is $104.33.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.52. The business had revenue of $15.23 billion for 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 in the prior year, the company earned $3.29 earnings per share. Analysts forecast that Prudential Financial, Inc. will post 13.84 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, May 26th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend was Tuesday, May 26th. Prudential Financial’s dividend payout ratio is currently 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.