Swedbank AB decreased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU – Free Report) by 5.0% in the 1st quarter, Holdings Channel.com reports. The fund owned 324,981 shares of the financial services provider’s stock after selling 17,083 shares during the quarter. Swedbank AB’s holdings in Prudential Financial were worth $31,747,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of PRU. Jessup Wealth Management Inc purchased a new position in shares of Prudential Financial during the 4th quarter worth $25,000. Garton & Associates Financial Advisors LLC purchased a new stake in Prudential Financial in the 4th quarter valued at about $26,000. Salomon & Ludwin LLC lifted its position in Prudential Financial by 98.3% in the fourth 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. SJS Investment Consulting Inc. lifted its position in Prudential Financial by 93.1% in the first quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider’s stock valued at $27,000 after buying an additional 134 shares during the last quarter. Finally, Lodestone Wealth Management LLC purchased a new position in Prudential Financial during the fourth quarter worth about $28,000. Institutional investors and hedge funds own 56.83% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the stock. Barclays boosted their price target on shares of Prudential Financial from $90.00 to $92.00 and gave the company an “underweight” rating in a research note on Tuesday. Jefferies Financial Group downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating and dropped their target price for the company from $124.00 to $98.00 in a report on Wednesday, April 22nd. Weiss Ratings raised Prudential Financial from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 12th. Mizuho upped their price target on Prudential Financial from $96.00 to $101.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, UBS Group lowered their price target on Prudential Financial from $105.00 to $98.00 and set a “neutral” rating for the company in a research report on Thursday, April 9th. Eleven equities research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $102.08.
Prudential Financial Price Performance
Shares of NYSE PRU opened at $112.74 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market cap of $39.12 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 2.10 and a beta of 0.85. The stock’s 50-day moving average is $104.84 and its two-hundred day moving average is $104.02. Prudential Financial, Inc. has a 1-year low of $91.89 and a 1-year high of $119.76.
Prudential Financial (NYSE:PRU – Get Free Report) last announced its quarterly earnings data 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 business had revenue of $15.23 billion during the quarter, compared to analysts’ expectations of $14.10 billion. During the same quarter last year, the business posted $3.29 EPS. Analysts forecast that Prudential Financial, Inc. will post 13.81 EPS for the current fiscal year.
Prudential Financial Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, May 26th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 5.0%. The ex-dividend date was Tuesday, May 26th. Prudential Financial’s payout ratio is 57.61%.
Prudential Financial 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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