Prudential Financial Inc (NYSE:PRU) Shares Acquired by Duality Advisers LP

Duality Advisers LP grew its holdings in Prudential Financial Inc (NYSE:PRU) by 293.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 33,680 shares of the financial services provider’s stock after acquiring an additional 25,130 shares during the quarter. Duality Advisers LP’s holdings in Prudential Financial were worth $3,095,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its stake in Prudential Financial by 6.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 137,848 shares of the financial services provider’s stock valued at $12,665,000 after purchasing an additional 7,981 shares in the last quarter. OppenheimerFunds Inc. increased its position in Prudential Financial by 0.5% during the first quarter. OppenheimerFunds Inc. now owns 1,554,721 shares of the financial services provider’s stock worth $142,848,000 after buying an additional 7,894 shares in the last quarter. Bragg Financial Advisors Inc increased its position in Prudential Financial by 5.6% during the first quarter. Bragg Financial Advisors Inc now owns 38,568 shares of the financial services provider’s stock worth $3,544,000 after buying an additional 2,032 shares in the last quarter. Private Advisor Group LLC increased its position in Prudential Financial by 28.1% during the first quarter. Private Advisor Group LLC now owns 22,359 shares of the financial services provider’s stock worth $2,055,000 after buying an additional 4,905 shares in the last quarter. Finally, State of Wisconsin Investment Board increased its position in Prudential Financial by 1.9% during the first quarter. State of Wisconsin Investment Board now owns 531,865 shares of the financial services provider’s stock worth $48,868,000 after buying an additional 9,692 shares in the last quarter. Institutional investors and hedge funds own 63.23% of the company’s stock.

A number of brokerages have recently commented on PRU. ValuEngine raised Prudential Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $113.00 price objective for the company in a research report on Wednesday, May 8th. B. Riley lifted their price objective on Prudential Financial from $113.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Citigroup set a $112.00 price objective on Prudential Financial and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, UBS Group cut Prudential Financial from a “buy” rating to a “neutral” rating and reduced their target price for the company from $116.00 to $112.00 in a report on Monday, May 13th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $112.21.

Shares of PRU traded up $1.02 during midday trading on Monday, reaching $102.02. 1,857,700 shares of the company were exchanged, compared to its average volume of 2,062,498. The company’s 50-day moving average is $98.51. The stock has a market capitalization of $41.01 billion, a P/E ratio of 8.73, a price-to-earnings-growth ratio of 0.88 and a beta of 1.49. Prudential Financial Inc has a 1-year low of $75.61 and a 1-year high of $106.64. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.11 and a current ratio of 0.11.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $3.00 EPS for the quarter, missing the Zacks’ consensus estimate of $3.14 by ($0.14). The company had revenue of $13.65 billion for the quarter, compared to analyst estimates of $13.74 billion. Prudential Financial had a return on equity of 9.87% and a net margin of 6.18%. During the same quarter in the prior year, the firm earned $3.08 EPS. Analysts anticipate that Prudential Financial Inc will post 12.74 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Tuesday, May 28th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend was Friday, May 24th. Prudential Financial’s dividend payout ratio is presently 34.22%.

About Prudential Financial

Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.

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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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