Trexquant Investment LP Acquires Shares of 25,803 Prudential Financial Inc (PRU)

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Trexquant Investment LP acquired a new stake in Prudential Financial Inc (NYSE:PRU) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 25,803 shares of the financial services provider’s stock, valued at approximately $2,413,000.

Several other hedge funds have also added to or reduced their stakes in PRU. Schwab Charles Investment Management Inc. lifted its stake in shares of Prudential Financial by 76.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 2,752,600 shares of the financial services provider’s stock valued at $285,032,000 after purchasing an additional 1,191,068 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Prudential Financial by 3.6% in the 1st quarter. BlackRock Inc. now owns 31,060,511 shares of the financial services provider’s stock valued at $3,216,315,000 after purchasing an additional 1,076,466 shares during the last quarter. OppenheimerFunds Inc. lifted its stake in shares of Prudential Financial by 557.9% in the 1st quarter. OppenheimerFunds Inc. now owns 823,538 shares of the financial services provider’s stock valued at $85,277,000 after purchasing an additional 698,362 shares during the last quarter. Capital Growth Management LP lifted its stake in shares of Prudential Financial by 3,366.7% in the 1st quarter. Capital Growth Management LP now owns 520,000 shares of the financial services provider’s stock valued at $53,846,000 after purchasing an additional 505,000 shares during the last quarter. Finally, Hexavest Inc. acquired a new stake in shares of Prudential Financial in the 2nd quarter valued at $39,045,000. 64.61% of the stock is owned by institutional investors and hedge funds.

Several research firms recently issued reports on PRU. Credit Suisse Group began coverage on shares of Prudential Financial in a research note on Wednesday, April 25th. They issued a “neutral” rating and a $102.00 price objective for the company. B. Riley lifted their price objective on shares of Prudential Financial from $116.00 to $124.00 and gave the company a “buy” rating in a research note on Tuesday, August 7th. Wells Fargo & Co reaffirmed a “hold” rating and issued a $111.00 price objective on shares of Prudential Financial in a research note on Thursday, May 3rd. ValuEngine lowered shares of Prudential Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Finally, Deutsche Bank reduced their price objective on shares of Prudential Financial from $125.00 to $113.00 and set a “hold” rating for the company in a research note on Friday, May 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $116.43.

Prudential Financial stock opened at $98.80 on Friday. The firm has a market cap of $40.44 billion, a price-to-earnings ratio of 9.34, a PEG ratio of 0.89 and a beta of 1.51. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.12 and a quick ratio of 0.12. Prudential Financial Inc has a fifty-two week low of $92.05 and a fifty-two week high of $127.14.

Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, August 1st. The financial services provider reported $3.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.08 by ($0.07). The firm had revenue of $13.04 billion for the quarter, compared to analyst estimates of $14.19 billion. Prudential Financial had a return on equity of 9.98% and a net margin of 13.16%. During the same period in the prior year, the firm earned $2.09 EPS. equities analysts forecast that Prudential Financial Inc will post 12.12 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 13th. Shareholders of record on Tuesday, August 21st will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Monday, August 20th. Prudential Financial’s dividend payout ratio is 34.03%.

About Prudential Financial

Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through U.S. Individual Solutions, U.S. Workplace Solutions, Investment Management, and International Insurance divisions.

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

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