Y Intercept Hong Kong Ltd Sells 26,316 Shares of Prudential Financial, Inc. $PRU

Y Intercept Hong Kong Ltd lowered its holdings in Prudential Financial, Inc. (NYSE:PRUFree Report) by 38.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,584 shares of the financial services provider’s stock after selling 26,316 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Prudential Financial were worth $4,062,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Prudential Financial in the 4th quarter valued at $140,530,000. Marshall Wace LLP lifted its holdings in shares of Prudential Financial by 230.3% during the fourth quarter. Marshall Wace LLP now owns 1,374,966 shares of the financial services provider’s stock valued at $155,206,000 after acquiring an additional 958,672 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Prudential Financial by 183.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 804,316 shares of the financial services provider’s stock valued at $83,440,000 after purchasing an additional 520,425 shares in the last quarter. Morgan Stanley grew its holdings in shares of Prudential Financial by 6.7% in the 4th quarter. Morgan Stanley now owns 6,649,202 shares of the financial services provider’s stock worth $750,562,000 after purchasing an additional 420,081 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Prudential Financial by 209.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 520,025 shares of the financial services provider’s stock worth $55,871,000 after purchasing an additional 351,849 shares in the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Price Performance

Prudential Financial stock opened at $112.83 on Monday. The business’s 50-day simple moving average is $103.68 and its 200 day simple moving average is $104.06. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The stock has a market cap of $39.15 billion, a price-to-earnings ratio of 11.61, a P/E/G ratio of 2.06 and a beta of 0.85. Prudential Financial, Inc. has a 12-month low of $91.89 and a 12-month high of $119.76.

Prudential Financial (NYSE:PRUGet Free Report) last released its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.52. The company had revenue of $15.23 billion for 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 in the prior year, the company posted $3.29 EPS. As a group, research analysts anticipate that Prudential Financial, Inc. will post 13.81 earnings per share for the current year.

Prudential Financial Announces Dividend

The firm also recently disclosed 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 5.0%. The ex-dividend date was Tuesday, May 26th. Prudential Financial’s dividend payout ratio is currently 57.61%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PRU shares. Mizuho boosted their price target on shares of Prudential Financial from $96.00 to $101.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Zacks Research raised shares of Prudential Financial from a “strong sell” rating to a “hold” rating in a report on Friday, June 12th. Jefferies Financial Group downgraded Prudential Financial from a “buy” rating to a “hold” rating and reduced their target price for the stock from $124.00 to $98.00 in a report on Wednesday, April 22nd. Bank of America decreased their price target on Prudential Financial from $112.00 to $104.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. Finally, Piper Sandler boosted their price objective on Prudential Financial from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 24th. Eleven equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, Prudential Financial has a consensus rating of “Reduce” and an average target price of $101.92.

Check Out Our Latest Stock Analysis on Prudential Financial

Prudential Financial Profile

(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

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

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