Capital Management Corp VA lowered its stake in shares of Prudential Financial Inc (NYSE:PRU) by 12.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 84,774 shares of the financial services provider’s stock after selling 12,223 shares during the period. Prudential Financial makes up about 2.8% of Capital Management Corp VA’s portfolio, making the stock its 9th largest position. Capital Management Corp VA’s holdings in Prudential Financial were worth $9,044,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of PRU. Adirondack Trust Co. increased its position 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 in the last quarter. Norway Savings Bank acquired a new position in Prudential Financial during the fourth quarter worth about $120,000. Seven Eight Capital LP acquired a new position in Prudential Financial during the fourth quarter worth about $130,000. Patriot Financial Group Insurance Agency LLC acquired a new position in Prudential Financial during the fourth quarter worth about $134,000. Finally, Quadrant Capital Group LLC increased its position in 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 in the last quarter. Institutional investors own 60.91% of the company’s stock.
Shares of Prudential Financial Inc (NYSE:PRU) traded down 0.20% during mid-day trading on Tuesday, hitting $104.86. 1,069,137 shares of the stock traded hands. Prudential Financial Inc has a 12-month low of $66.51 and a 12-month high of $114.55. The firm has a market cap of $44.98 billion, a price-to-earnings ratio of 10.64 and a beta of 1.69. The firm’s 50 day moving average price is $106.15 and its 200 day moving average price is $106.20.
Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, May 3rd. The financial services provider reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.15. The firm had revenue of $13.24 billion during the quarter, compared to the consensus estimate 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 posted $2.18 earnings per share. On average, equities research analysts predict that Prudential Financial Inc will post $10.67 EPS for the current fiscal year.
The business also recently announced 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. This represents a $3.00 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Friday, May 19th. Prudential Financial’s payout ratio is 28.90%.
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PRU has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reissued a “buy” rating and set a $117.00 target price on shares of Prudential Financial in a research 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 for the company in a research 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 for the company in a research report on Wednesday, March 22nd. Barclays PLC reaffirmed a “buy” rating and issued a $129.00 price target on shares of Prudential Financial in a report on Sunday, February 19th. Finally, Atlantic Securities cut shares of Prudential Financial from an “overweight” rating to a “neutral” rating in a report on Friday, February 10th. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock 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 firm’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $108.04, for a total value of $24,077,470.28. Following the sale, the insider now directly owns 151,418 shares in the company, valued at $16,359,200.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Barbara Koster sold 33,743 shares of the firm’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $112.87, for a total value of $3,808,572.41. Following the completion of the sale, the insider now owns 45,245 shares in the company, valued at $5,106,803.15. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
About Prudential Financial
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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