Corient Private Wealth LLC Has $9.19 Million Stock Holdings in Prudential Financial, Inc. $PRU

Corient Private Wealth LLC boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 8.8% in the fourth quarter, Holdings Channel reports. The firm owned 81,386 shares of the financial services provider’s stock after purchasing an additional 6,585 shares during the quarter. Corient Private Wealth LLC’s holdings in Prudential Financial were worth $9,189,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PRU. Norges Bank acquired a new position in shares of Prudential Financial in the 4th quarter worth approximately $140,530,000. Marshall Wace LLP boosted its stake in Prudential Financial by 230.3% in 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 buying an additional 958,672 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Prudential Financial by 183.3% in the third 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 period. Morgan Stanley raised its stake in Prudential Financial by 6.7% during the fourth quarter. Morgan Stanley now owns 6,649,202 shares of the financial services provider’s stock worth $750,562,000 after acquiring an additional 420,081 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Prudential Financial by 209.2% during the second 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 period. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Stock Performance

Shares of NYSE:PRU opened at $106.27 on Thursday. The business has a fifty day moving average of $102.17 and a 200-day moving average of $104.28. 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 twelve month low of $91.89 and a twelve month high of $119.76. The firm has a market cap of $36.88 billion, a PE ratio of 10.93, a price-to-earnings-growth ratio of 1.98 and a beta of 0.86.

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. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. The business had revenue of $15.23 billion for the quarter, compared to the consensus estimate of $14.10 billion. During the same quarter in the prior year, the company earned $3.29 EPS. On average, equities research analysts predict that Prudential Financial, Inc. will post 13.78 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date was Tuesday, May 26th. Prudential Financial’s dividend payout ratio is presently 57.61%.

Analyst Ratings Changes

PRU has been the topic of several recent analyst reports. Evercore restated a “negative” rating on shares of Prudential Financial in a research note on Friday, March 6th. Keefe, Bruyette & Woods increased their target price on shares of Prudential Financial from $100.00 to $106.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. BMO Capital Markets reduced their price target 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. Mizuho upped their price objective on shares of Prudential Financial from $96.00 to $101.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $92.00 price objective (down from $106.00) on shares of Prudential Financial in a report on Monday, May 4th. Eleven analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Prudential Financial currently has a consensus rating of “Reduce” and a consensus price target of $101.92.

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.