Versor Investments LP Purchases 22,304 Shares of Prudential Financial, Inc. (NYSE:PRU)

Versor Investments LP boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 374.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,265 shares of the financial services provider’s stock after purchasing an additional 22,304 shares during the period. Prudential Financial comprises approximately 0.6% of Versor Investments LP’s investment portfolio, making the stock its 15th biggest position. Versor Investments LP’s holdings in Prudential Financial were worth $3,350,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of PRU. AMF Tjanstepension AB grew its position in Prudential Financial by 12.5% in the third quarter. AMF Tjanstepension AB now owns 203,197 shares of the financial services provider’s stock valued at $24,642,000 after acquiring an additional 22,588 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Prudential Financial by 21.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,489 shares of the financial services provider’s stock valued at $3,563,000 after purchasing an additional 5,129 shares during the last quarter. Arkadios Wealth Advisors increased its position in Prudential Financial by 8.0% during the 3rd quarter. Arkadios Wealth Advisors now owns 5,423 shares of the financial services provider’s stock worth $657,000 after purchasing an additional 400 shares in the last quarter. Fortitude Family Office LLC lifted its stake in Prudential Financial by 65.9% in the 3rd quarter. Fortitude Family Office LLC now owns 438 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 174 shares during the last quarter. Finally, Valmark Advisers Inc. boosted its position in Prudential Financial by 16.9% in the third quarter. Valmark Advisers Inc. now owns 3,630 shares of the financial services provider’s stock valued at $440,000 after buying an additional 524 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PRU. Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and increased their price target for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. BMO Capital Markets assumed coverage on Prudential Financial in a research report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price for the company. Barclays boosted their price target on Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Keefe, Bruyette & Woods cut their target price on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 12th. Finally, Jefferies Financial Group upped their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $125.69.

Prudential Financial Stock Performance

Shares of PRU stock opened at $111.81 on Thursday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a 52 week low of $104.44 and a 52 week high of $130.55. The firm has a 50 day moving average of $116.46 and a 200-day moving average of $119.77. The company has a market cap of $40.03 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 0.98 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. On average, equities analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.83%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date is Tuesday, February 18th. Prudential Financial’s dividend payout ratio (DPR) is 72.29%.

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.