Y Intercept Hong Kong Ltd boosted its position in Prudential Financial, Inc. (NYSE:PRU – Free Report) by 27.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,900 shares of the financial services provider’s stock after buying an additional 14,667 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Prudential Financial were worth $7,665,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Jessup Wealth Management Inc acquired a new position in Prudential Financial in the 4th quarter valued at $25,000. Salomon & Ludwin LLC grew its stake in Prudential Financial by 98.3% in the 4th quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock valued at $27,000 after buying an additional 114 shares during the last quarter. Lodestone Wealth Management LLC acquired a new position in Prudential Financial in the 4th quarter valued at $28,000. Coston McIsaac & Partners grew its stake in 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 last quarter. Finally, Basepoint Wealth LLC acquired a new position in Prudential Financial in the 4th quarter valued at $30,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the stock. UBS Group decreased their price target on shares of Prudential Financial from $105.00 to $98.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. Argus lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Tuesday. Weiss Ratings lowered shares of Prudential Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 13th. Wells Fargo & Company raised their price target on shares of Prudential Financial from $93.00 to $100.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 12th. Finally, Morgan Stanley restated an “underweight” rating and issued a $92.00 price target (down from $106.00) on shares of Prudential Financial in a research report on Monday, May 4th. Ten equities research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $101.50.
Prudential Financial Price Performance
NYSE:PRU opened at $108.38 on Friday. The company has a 50-day moving average of $100.53 and a 200-day moving average of $104.35. The company has a market capitalization of $37.61 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 1.93 and a beta of 0.86. Prudential Financial, Inc. has a 52 week low of $91.89 and a 52 week high of $119.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16.
Prudential Financial (NYSE:PRU – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.52. The company had revenue of $15.23 billion during the quarter, compared to the consensus estimate of $14.10 billion. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. During the same period last year, the firm earned $3.29 EPS. As a group, equities research analysts anticipate that Prudential Financial, Inc. will post 13.84 earnings per share for the current fiscal year.
Prudential Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, May 26th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 5.2%. 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.
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