Prudential Financial, Inc. $PRU Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC cut its holdings in Prudential Financial, Inc. (NYSE:PRUFree Report) by 2.2% in the 4th quarter, HoldingsChannel reports. The fund owned 241,984 shares of the financial services provider’s stock after selling 5,409 shares during the period. Great Lakes Advisors LLC’s holdings in Prudential Financial were worth $27,315,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Jessup Wealth Management Inc acquired a new stake in shares of Prudential Financial during the 4th quarter worth $25,000. Salomon & Ludwin LLC increased its holdings in shares of 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 buying an additional 114 shares during the last quarter. Lodestone Wealth Management LLC acquired a new stake in shares of Prudential Financial during the 4th quarter worth $28,000. Coston McIsaac & Partners increased its holdings in shares of Prudential Financial by 93.4% during the 4th quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock worth $29,000 after buying an additional 128 shares during the last quarter. Finally, Basepoint Wealth LLC acquired a new stake in shares of Prudential Financial during the 4th quarter worth $30,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Stock Up 1.3%

Shares of NYSE PRU opened at $106.52 on Friday. Prudential Financial, Inc. has a 12-month low of $91.89 and a 12-month high of $119.76. The company has a market cap of $36.96 billion, a P/E ratio of 10.96, a P/E/G ratio of 1.91 and a beta of 0.86. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The stock has a fifty day moving average price of $100.32 and a 200 day moving average price of $104.32.

Prudential Financial (NYSE:PRUGet Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share (EPS) 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 in the prior year, the firm earned $3.29 EPS. Research analysts anticipate that Prudential Financial, Inc. will post 13.84 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, May 26th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 5.3%. The ex-dividend date was Tuesday, May 26th. Prudential Financial’s dividend payout ratio is currently 57.61%.

Analysts Set New Price Targets

A number of analysts have recently commented on PRU shares. Evercore restated a “negative” rating on shares of Prudential Financial in a report on Friday, March 6th. Wells Fargo & Company upped their price objective on Prudential Financial from $93.00 to $100.00 and gave the stock an “underweight” rating in a report on Tuesday, May 12th. Bank of America dropped their price objective on Prudential Financial from $112.00 to $104.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. Weiss Ratings downgraded Prudential Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 13th. Finally, Mizuho upped their price objective on Prudential Financial from $96.00 to $101.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Ten research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $101.50.

Read Our Latest Analysis on Prudential Financial

About Prudential Financial

(Free Report)

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.

Further Reading

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

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