Deerfield Management Company L.P. Series C Takes Position in Prudential Financial, Inc. (NYSE:PRU)

Deerfield Management Company L.P. Series C acquired a new position in shares of Prudential Financial, Inc. (NYSE:PRU) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,521 shares of the financial services provider’s stock, valued at approximately $530,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Prudential Financial by 13.9% during the 4th quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock valued at $4,386,192,000 after purchasing an additional 5,154,865 shares during the last quarter. AQR Capital Management LLC raised its stake in Prudential Financial by 97.4% in the second quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock valued at $84,874,000 after buying an additional 357,300 shares during the last quarter. Swedbank AB acquired a new stake in Prudential Financial in the first quarter worth about $35,855,000. Schroder Investment Management Group grew its stake in shares of Prudential Financial by 387.6% during the fourth quarter. Schroder Investment Management Group now owns 332,421 shares of the financial services provider’s stock worth $34,475,000 after acquiring an additional 264,247 shares during the last quarter. Finally, Gillson Capital LP acquired a new position in shares of Prudential Financial during the fourth quarter valued at about $16,536,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Analyst Upgrades and Downgrades

PRU has been the topic of a number of recent analyst reports. Wells Fargo & Company upgraded shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price target on the stock in a research note on Monday, August 12th. Morgan Stanley reduced their target price on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Citigroup boosted their price target on Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $121.00 target price on shares of Prudential Financial in a report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. increased their price target on shares of Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $120.83.

Prudential Financial Stock Performance

Shares of NYSE PRU opened at $120.82 on Friday. The company has a market capitalization of $43.37 billion, a PE ratio of 20.55, a price-to-earnings-growth ratio of 0.96 and a beta of 1.30. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. The company’s fifty day moving average price is $117.35 and its 200 day moving average price is $116.57. Prudential Financial, Inc. has a 1 year low of $87.95 and a 1 year high of $128.52.

Prudential Financial (NYSE:PRU) last posted its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.43 by ($0.04). Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. The firm had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. On average, research analysts predict that Prudential Financial, Inc. will post 13.3 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Insider Transactions at Prudential Financial

In related news, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the sale, the executive vice president now owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Ann M. Kappler sold 2,839 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the transaction, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Prudential Financial Company Profile

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.