Stanley Laman Group Ltd. trimmed its position in Prudential Financial Inc (NYSE:PRU) by 14.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,038 shares of the financial services provider’s stock after selling 981 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Prudential Financial were worth $610,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in PRU. Joseph P. Lucia & Associates LLC acquired a new stake in Prudential Financial in the first quarter worth about $25,000. Coastal Capital Group Inc. acquired a new stake in Prudential Financial in the second quarter worth about $25,000. Ibex Wealth Advisors acquired a new stake in Prudential Financial in the second quarter worth about $26,000. Bartlett & Co. LLC increased its position in Prudential Financial by 163.0% in the second quarter. Bartlett & Co. LLC now owns 263 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 163 shares during the period. Finally, Berman Capital Advisors LLC increased its position in Prudential Financial by 68.0% in the first quarter. Berman Capital Advisors LLC now owns 346 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 140 shares during the period. Hedge funds and other institutional investors own 63.65% of the company’s stock.
Shares of Prudential Financial stock traded down $0.31 during trading on Thursday, hitting $80.09. 830,576 shares of the company were exchanged, compared to its average volume of 2,281,292. The company has a market capitalization of $33.27 billion, a price-to-earnings ratio of 6.85, a P/E/G ratio of 0.74 and a beta of 1.49. Prudential Financial Inc has a 1-year low of $75.61 and a 1-year high of $106.64. The stock has a fifty day moving average price of $97.24. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.11 and a quick ratio of 0.11.
Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.22 by ($0.08). The company had revenue of $14.11 billion for the quarter, compared to analyst estimates of $13.63 billion. Prudential Financial had a return on equity of 9.24% and a net margin of 6.92%. During the same quarter in the previous year, the firm posted $3.01 earnings per share. Sell-side analysts predict that Prudential Financial Inc will post 12.49 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 20th will be given a $1.00 dividend. The ex-dividend date is Monday, August 19th. This represents a $4.00 annualized dividend and a dividend yield of 4.99%. Prudential Financial’s dividend payout ratio is presently 34.22%.
A number of brokerages recently commented on PRU. Atlantic Securities lowered Prudential Financial from an “overweight” rating to a “neutral” rating in a research report on Thursday, August 8th. Citigroup lowered Prudential Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $112.00 to $94.00 in a research report on Monday, August 5th. ValuEngine lowered Prudential Financial from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. Wells Fargo & Co set a $115.00 price objective on Prudential Financial and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Barclays set a $108.00 price objective on Prudential Financial and gave the stock a “buy” rating in a research report on Monday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Prudential Financial presently has an average rating of “Hold” and a consensus target price of $103.59.
Prudential Financial Company Profile
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.
Further Reading: SEC Filing
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