OP Asset Management Ltd Invests $3.48 Million in Prudential Financial, Inc. $PRU

OP Asset Management Ltd bought a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 35,648 shares of the financial services provider’s stock, valued at approximately $3,482,000.

Several other large investors have also added to or reduced their stakes in the stock. Jessup Wealth Management Inc bought a new position in Prudential Financial in the 4th quarter worth $25,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Prudential Financial during the 4th quarter valued at about $26,000. Salomon & Ludwin LLC increased its position in shares of Prudential Financial by 98.3% during the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock valued at $27,000 after buying an additional 114 shares during the period. Lodestone Wealth Management LLC bought a new position in Prudential Financial in the fourth quarter worth about $28,000. Finally, Basepoint Wealth LLC purchased a new stake in Prudential Financial in the fourth quarter worth about $30,000. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $108.38 on Friday. Prudential Financial, Inc. has a fifty-two week low of $91.89 and a fifty-two week high of $119.76. The company has a 50 day simple moving average of $102.51 and a two-hundred day simple moving average of $104.28. The company has a market capitalization of $37.61 billion, a price-to-earnings ratio of 11.15, a P/E/G ratio of 1.95 and a beta of 0.86. 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 (NYSE:PRU) last issued its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.52. The firm had revenue of $15.23 billion for the quarter, compared to analysts’ expectations of $14.10 billion. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.During the same period in the previous year, the firm posted $3.29 EPS. Analysts expect that Prudential Financial, Inc. will post 13.81 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. Shareholders of record on Tuesday, May 26th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend was Tuesday, May 26th. Prudential Financial’s payout ratio is 57.61%.

Wall Street Analyst Weigh In

Several research firms have weighed in on PRU. Evercore reaffirmed a “negative” rating on shares of Prudential Financial in a research report on Friday, March 6th. Barclays raised their target price on Prudential Financial from $89.00 to $90.00 and gave the company an “underweight” rating in a research note on Wednesday, May 6th. Wells Fargo & Company lifted their price target on Prudential Financial from $93.00 to $100.00 and gave the company an “underweight” rating in a research report on Tuesday, May 12th. UBS Group reduced their price target on Prudential Financial from $105.00 to $98.00 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. Finally, Jefferies Financial Group lowered Prudential Financial from a “buy” rating to a “hold” rating and lowered their price objective 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 assigned a Sell rating to the company’s stock. According to MarketBeat, Prudential Financial currently has a consensus rating of “Reduce” and an average target price of $101.92.

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.