Lombard Odier Asset Management Switzerland SA Makes New $4.50 Million Investment in Prudential Financial, Inc. $PRU

Lombard Odier Asset Management Switzerland SA acquired a new position in shares of Prudential Financial, Inc. (NYSE:PRU) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 39,889 shares of the financial services provider’s stock, valued at approximately $4,503,000.

Other hedge funds also recently added to or reduced their stakes in the company. Jessup Wealth Management Inc acquired a new stake in Prudential Financial during the 4th quarter worth approximately $25,000. Salomon & Ludwin LLC lifted its position in Prudential Financial by 98.3% during the 4th quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 114 shares during the period. Lodestone Wealth Management LLC acquired a new stake in Prudential Financial during the 4th quarter worth approximately $28,000. Basepoint Wealth LLC acquired a new stake in shares of Prudential Financial in the 4th quarter valued at approximately $30,000. Finally, Coston McIsaac & Partners lifted its holdings in shares of Prudential Financial by 93.4% in the 4th quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock valued at $29,000 after buying an additional 128 shares during the period. 56.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PRU has been the subject of several recent analyst reports. Argus cut Prudential Financial from a “buy” rating to a “hold” rating in a report on Tuesday, June 9th. Zacks Research raised Prudential Financial from a “strong sell” rating to a “hold” rating in a report on Friday, June 12th. UBS Group reduced their price target on Prudential Financial from $105.00 to $98.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Keefe, Bruyette & Woods raised their price target on Prudential Financial from $100.00 to $106.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. Finally, Barclays raised their price target on Prudential Financial from $89.00 to $90.00 and gave the company an “underweight” rating in a report on Wednesday, May 6th. Eleven investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $101.50.

Prudential Financial Stock Performance

NYSE PRU opened at $109.19 on Wednesday. Prudential Financial, Inc. has a 1-year low of $91.89 and a 1-year high of $119.76. The company has a market capitalization of $37.89 billion, a P/E ratio of 11.23, a PEG ratio of 1.97 and a beta of 0.86. The business has a 50 day moving average price of $100.98 and a 200 day moving average price of $104.34. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.52. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.The firm had revenue of $15.23 billion during the quarter, compared to the consensus estimate of $14.10 billion. During the same period last year, the business posted $3.29 EPS. Sell-side analysts expect that Prudential Financial, Inc. will post 13.86 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, May 26th were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend was Tuesday, May 26th. Prudential Financial’s dividend payout ratio (DPR) is presently 57.61%.

Prudential Financial Company 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.