Comerica Bank cut its position in shares of Prudential Financial Inc (NYSE:PRU) by 3.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 130,856 shares of the financial services provider’s stock after selling 3,987 shares during the period. Comerica Bank’s holdings in Prudential Financial were worth $14,012,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Norway Savings Bank bought a new stake in Prudential Financial during the fourth quarter worth $120,000. Adirondack Trust Co. increased its stake in shares of Prudential Financial by 7.6% in the first quarter. Adirondack Trust Co. now owns 1,133 shares of the financial services provider’s stock worth $121,000 after buying an additional 80 shares during the last quarter. Seven Eight Capital LP acquired a new stake in shares of Prudential Financial during the fourth quarter worth $130,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Prudential Financial during the fourth quarter worth $134,000. Finally, Quadrant Capital Group LLC increased its stake in shares of Prudential Financial by 11.1% in the first quarter. Quadrant Capital Group LLC now owns 1,376 shares of the financial services provider’s stock worth $139,000 after buying an additional 137 shares during the last quarter. Institutional investors and hedge funds own 60.91% of the company’s stock.
Prudential Financial Inc (PRU) opened at 107.75 on Friday. The company has a market cap of $46.22 billion, a PE ratio of 10.93 and a beta of 1.69. Prudential Financial Inc has a 12 month low of $66.51 and a 12 month high of $114.55. The company has a 50-day moving average of $106.36 and a 200 day moving average of $106.47.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.15. The company had revenue of $13.24 billion for the quarter, compared to analysts’ expectations 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 previous year, the company earned $2.18 earnings per share. On average, equities analysts forecast that Prudential Financial Inc will post $10.64 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Tuesday, May 23rd will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Friday, May 19th. Prudential Financial’s dividend payout ratio (DPR) is presently 28.90%.
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A number of analysts have weighed in on the company. Wells Fargo & Co reiterated a “hold” rating on shares of Prudential Financial in a report on Tuesday, June 6th. ValuEngine upgraded Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Credit Suisse Group AG decreased their price target on Prudential Financial from $121.00 to $120.00 and set a “neutral” rating for the company in a report on Tuesday, May 23rd. JPMorgan Chase & Co. increased their price target on Prudential Financial from $108.00 to $113.00 and gave the stock an “overweight” rating in a report on Monday, April 3rd. Finally, Barclays PLC reiterated a “buy” rating and set a $129.00 price target on shares of Prudential Financial in a report on Sunday, February 19th. Seven research 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 stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $108.84.
In other Prudential Financial news, insider Charles F. Lowrey sold 222,857 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 151,418 shares in the company, valued at $16,359,200.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.20% of the stock is currently owned by corporate 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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