Graham Capital Management L.P. bought a new position in shares of Prudential Financial, Inc. (NYSE:PRU – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 52,320 shares of the financial services provider’s stock, valued at approximately $5,906,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PRU. Brighton Jones LLC increased its stake in Prudential Financial by 3.7% during the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock worth $436,000 after acquiring an additional 133 shares during the last quarter. Empowered Funds LLC increased its stake in Prudential Financial by 30.5% during the first quarter. Empowered Funds LLC now owns 17,690 shares of the financial services provider’s stock worth $1,976,000 after acquiring an additional 4,134 shares during the last quarter. Brown Advisory Inc. increased its stake in Prudential Financial by 3.5% during the second quarter. Brown Advisory Inc. now owns 4,164 shares of the financial services provider’s stock worth $447,000 after acquiring an additional 140 shares during the last quarter. AXA S.A. increased its stake in Prudential Financial by 25.8% during the second quarter. AXA S.A. now owns 56,700 shares of the financial services provider’s stock worth $6,092,000 after acquiring an additional 11,630 shares during the last quarter. Finally, NewEdge Advisors LLC increased its stake in Prudential Financial by 15.1% during the second quarter. NewEdge Advisors LLC now owns 37,277 shares of the financial services provider’s stock worth $4,005,000 after acquiring an additional 4,895 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the company. Weiss Ratings raised Prudential Financial from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday. Mizuho raised their target price on Prudential Financial from $96.00 to $101.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. BMO Capital Markets lowered their price target on Prudential Financial from $91.00 to $87.00 and set an “underperform” rating for the company in a research report on Thursday, April 23rd. 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. Finally, Wells Fargo & Company raised their price target on Prudential Financial from $93.00 to $100.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 12th. Eleven research analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $101.50.
Prudential Financial Trading Up 0.5%
PRU opened at $109.19 on Wednesday. Prudential Financial, Inc. has a 52 week low of $91.89 and a 52 week high of $119.76. The business has a fifty day simple moving average of $100.98 and a 200-day simple moving average of $104.34. The firm has a market cap of $37.89 billion, a P/E ratio of 11.23, a P/E/G ratio of 1.97 and a beta of 0.86. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58.
Prudential Financial (NYSE:PRU – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, topping 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 analyst estimates of $14.10 billion. During the same period last year, the business posted $3.29 earnings per share. On average, equities analysts expect that Prudential Financial, Inc. will post 13.86 earnings per share for the current year.
Prudential Financial Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, May 26th were issued a $1.40 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $5.60 dividend on an annualized basis and a yield of 5.1%. Prudential Financial’s dividend payout ratio (DPR) 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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