Mork Capital Management LLC continued to hold its position in Prudential Financial Inc (NYSE:PRU) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,600 shares of the financial services provider’s stock at the end of the first quarter. Prudential Financial accounts for 1.4% of Mork Capital Management LLC’s investment portfolio, making the stock its 9th largest position. Mork Capital Management LLC’s holdings in Prudential Financial were worth $1,558,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in PRU. HL Financial Services LLC raised its position in Prudential Financial by 868.6% in the first quarter. HL Financial Services LLC now owns 32,653 shares of the financial services provider’s stock valued at $3,483,000 after buying an additional 29,282 shares during the last quarter. Quantitative Investment Management LLC purchased a new position in Prudential Financial during the first quarter valued at about $1,237,000. Twin Capital Management Inc. raised its position in Prudential Financial by 6.3% in the first quarter. Twin Capital Management Inc. now owns 24,911 shares of the financial services provider’s stock valued at $2,657,000 after buying an additional 1,477 shares during the last quarter. Norinchukin Bank The raised its position in Prudential Financial by 13.2% in the first quarter. Norinchukin Bank The now owns 15,113 shares of the financial services provider’s stock valued at $1,612,000 after buying an additional 1,765 shares during the last quarter. Finally, Heritage Trust Co purchased a new position in Prudential Financial during the first quarter valued at about $1,549,000. Institutional investors and hedge funds own 60.91% of the company’s stock.
Shares of Prudential Financial Inc (NYSE:PRU) opened at 106.42 on Friday. The stock’s 50 day moving average is $106.32 and its 200 day moving average is $106.25. The company has a market capitalization of $45.65 billion, a P/E ratio of 10.80 and a beta of 1.69. Prudential Financial Inc has a 52-week low of $66.51 and a 52-week high of $114.55.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.15. Prudential Financial had a net margin of 7.63% and a return on equity of 7.96%. The business had revenue of $13.24 billion for the quarter, compared to the consensus estimate of $12.75 billion. During the same quarter in the previous year, the firm earned $2.18 earnings per share. Equities analysts expect that Prudential Financial Inc will post $10.65 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Tuesday, May 23rd will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Friday, May 19th. Prudential Financial’s dividend payout ratio is currently 28.90%.
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Several research firms recently issued reports on PRU. ValuEngine upgraded shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Friday. Credit Suisse Group AG decreased their price target on shares of Prudential Financial from $121.00 to $120.00 and set a “neutral” rating for the company in a research note on Tuesday, May 23rd. Wells Fargo & Co reaffirmed a “hold” rating on shares of Prudential Financial in a research note on Thursday, May 4th. Deutsche Bank AG lifted their price target on shares of Prudential Financial from $114.00 to $117.00 and gave the company a “buy” rating in a research note on Wednesday, April 19th. Finally, Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 price target for the company in a research note on Tuesday, April 18th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average 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 Prudential Financial stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $108.04, for a total transaction of $24,077,470.28. Following the transaction, the insider now owns 151,418 shares of the company’s stock, valued at $16,359,200.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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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