Lombard Odier Asset Management Europe Ltd Makes New Investment in Prudential Financial, Inc. (NYSE:PRU)

Lombard Odier Asset Management Europe Ltd acquired a new stake in Prudential Financial, Inc. (NYSE:PRU) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 75,000 shares of the financial services provider’s stock, valued at approximately $8,789,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PRU. Creekmur Asset Management LLC lifted its holdings in Prudential Financial by 78.8% during the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after buying an additional 108 shares during the period. Lynx Investment Advisory acquired a new stake in Prudential Financial in the 2nd quarter worth approximately $29,000. Crewe Advisors LLC purchased a new stake in Prudential Financial during the 1st quarter worth approximately $33,000. ESL Trust Services LLC purchased a new position in shares of Prudential Financial in the first quarter worth $34,000. Finally, Riverview Trust Co purchased a new stake in shares of Prudential Financial during the first quarter valued at $37,000. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Trading Down 0.4 %

Shares of NYSE:PRU opened at $121.36 on Monday. The business’s 50 day moving average price is $117.83 and its 200-day moving average price is $116.39. Prudential Financial, Inc. has a 1 year low of $87.95 and a 1 year high of $128.52. The firm has a market capitalization of $43.57 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 0.91 and a beta of 1.30. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data 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 net margin of 4.86% and a return on equity of 16.00%. The company had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. On average, equities research analysts forecast that Prudential Financial, Inc. will post 13.31 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were given a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.28%. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Analyst Upgrades and Downgrades

PRU has been the subject of a number of research reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $121.00 price target on shares of Prudential Financial in a research report on Wednesday, August 21st. Morgan Stanley reduced their price target on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Barclays initiated coverage on shares of Prudential Financial in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 price objective on the stock. Jefferies Financial Group reduced their target price on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a report on Friday, June 28th. Finally, UBS Group increased their price target on Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $120.83.

Insider Buying and Selling

In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following 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 filing with the SEC, which is available at the SEC website. In related news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now owns 10,175 shares in the company, valued at $1,220,694.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Ann M. Kappler sold 2,839 shares of the company’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 $1,648,705.05. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

About Prudential Financial

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.