Quantinno Capital Management LP Acquires 128,140 Shares of Prudential Financial, Inc. $PRU

Quantinno Capital Management LP boosted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 49.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 386,596 shares of the financial services provider’s stock after purchasing an additional 128,140 shares during the period. Quantinno Capital Management LP’s holdings in Prudential Financial were worth $37,767,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Jessup Wealth Management Inc purchased a new position in shares of Prudential Financial in the fourth quarter worth about $25,000. Garton & Associates Financial Advisors LLC purchased a new stake in Prudential Financial during the 4th quarter valued at about $26,000. Salomon & Ludwin LLC grew its position in Prudential Financial by 98.3% during the 4th quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 114 shares during the last quarter. SJS Investment Consulting Inc. grew its position in Prudential Financial by 93.1% during the 1st quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 134 shares during the last quarter. Finally, Lodestone Wealth Management LLC purchased a new position in Prudential Financial in the 4th quarter worth approximately $28,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Price Performance

Shares of PRU stock opened at $122.86 on Friday. 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 fifty-two week low of $91.89 and a fifty-two week high of $124.57. The firm has a market cap of $42.63 billion, a P/E ratio of 12.64, a P/E/G ratio of 2.44 and a beta of 0.85. The business’s 50 day moving average price is $110.50 and its 200-day moving average price is $104.41.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.52. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.The company had revenue of $15.23 billion during the quarter, compared to the consensus estimate of $14.10 billion. During the same quarter in the prior year, the company earned $3.29 earnings per share. On average, equities research analysts anticipate that Prudential Financial, Inc. will post 13.83 earnings per share for the current year.

Prudential Financial Dividend Announcement

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

Insider Activity at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $24.75, for a total value of $5,314,963.50. Following the completion of the sale, the insider directly owned 7,973,657 shares of the company’s stock, valued at approximately $197,348,010.75. This trade represents a 2.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.05% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PRU. Jefferies Financial Group increased their price objective on Prudential Financial from $105.00 to $110.00 and gave the company a “hold” rating in a research note on Friday, July 10th. Wall Street Zen upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. JPMorgan Chase & Co. increased their price target on shares of Prudential Financial from $117.00 to $129.00 and gave the company a “neutral” rating in a research report on Tuesday, July 21st. Zacks Research raised shares of Prudential Financial from a “strong sell” rating to a “hold” rating in a report on Friday, June 12th. Finally, BMO Capital Markets decreased their price objective 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. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $105.46.

Prudential Financial 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.