CIBC World Markets Inc. increased its stake in shares of Prudential Financial Inc (NYSE:PRU) by 13.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 84,529 shares of the financial services provider’s stock after buying an additional 9,864 shares during the period. CIBC World Markets Inc.’s holdings in Prudential Financial were worth $9,018,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PRU. BKD Wealth Advisors LLC boosted its position in Prudential Financial by 51.4% in the first quarter. BKD Wealth Advisors LLC now owns 4,030 shares of the financial services provider’s stock valued at $430,000 after buying an additional 1,369 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in Prudential Financial by 4.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 16,171 shares of the financial services provider’s stock valued at $1,684,000 after buying an additional 625 shares in the last quarter. Osborn Williams & Donohoe LLC boosted its position in Prudential Financial by 0.5% in the first quarter. Osborn Williams & Donohoe LLC now owns 21,187 shares of the financial services provider’s stock valued at $2,260,000 after buying an additional 99 shares in the last quarter. Opus Investment Management Inc. bought a new position in Prudential Financial during the fourth quarter valued at $5,026,000. Finally, Cipher Capital LP boosted its position in Prudential Financial by 56.7% in the fourth quarter. Cipher Capital LP now owns 31,742 shares of the financial services provider’s stock valued at $3,303,000 after buying an additional 11,479 shares in the last quarter. 60.91% of the stock is currently owned by hedge funds and other institutional investors.
Prudential Financial Inc (PRU) traded up 2.22% during mid-day trading on Friday, hitting $107.75. 2,032,756 shares of the company traded hands. The firm has a 50 day moving average of $106.36 and a 200 day moving average of $106.47. The firm has a market capitalization of $46.22 billion, a P/E ratio of 10.93 and a beta of 1.69. Prudential Financial Inc has a one year low of $66.51 and a one year high of $114.55.
Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, May 3rd. The financial services provider reported $2.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.64 by $0.15. The business had revenue of $13.24 billion for the quarter, compared to analyst estimates of $12.75 billion. Prudential Financial had a net margin of 7.63% and a return on equity of 7.96%. During the same quarter in the prior year, the firm posted $2.18 EPS. Equities research analysts expect that Prudential Financial Inc will post $10.64 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Tuesday, May 23rd will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, May 19th. This represents a $3.00 dividend on an annualized basis and a yield of 2.78%. Prudential Financial’s dividend payout ratio is presently 28.90%.
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Several research analysts have weighed in on PRU shares. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $117.00 price target on shares of Prudential Financial in a report on Tuesday, March 21st. Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 target price on the stock in a report on Tuesday, April 18th. Vetr raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $109.90 target price on the stock in a report on Wednesday, March 22nd. Barclays PLC reaffirmed a “buy” rating and set a $129.00 target price on shares of Prudential Financial in a report on Sunday, February 19th. Finally, Credit Suisse Group reaffirmed a “hold” rating and set a $121.00 target price on shares of Prudential Financial in a report on Thursday, April 27th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Prudential Financial presently has an average rating of “Buy” and an average price target of $108.84.
In other Prudential Financial news, insider Charles F. Lowrey sold 222,857 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $108.04, for a total value of $24,077,470.28. Following the completion of the transaction, the insider now owns 151,418 shares of the company’s stock, valued at approximately $16,359,200.72. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.20% of the stock is owned by insiders.
Prudential Financial Company Profile
Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.
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