Eagle Asset Management Inc. reduced its position in shares of Prudential Financial Inc (NYSE:PRU) by 4.1% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 36,303 shares of the financial services provider’s stock after selling 1,546 shares during the period. Eagle Asset Management Inc.’s holdings in Prudential Financial were worth $3,872,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the stock. Adirondack Trust Co. boosted its stake in 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 Prudential Financial during the fourth quarter worth about $130,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in Prudential Financial during the fourth quarter worth about $134,000. Quadrant Capital Group LLC boosted its stake 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 during the last quarter. Finally, First Personal Financial Services boosted its stake in Prudential Financial by 3.4% in the first quarter. First Personal Financial Services now owns 1,407 shares of the financial services provider’s stock worth $150,000 after buying an additional 46 shares during the last quarter. 60.91% of the stock is owned by institutional investors.
Prudential Financial Inc (NYSE:PRU) traded down 0.58% during trading on Tuesday, reaching $104.46. The company’s stock had a trading volume of 109,297 shares. The stock’s 50 day moving average is $106.18 and its 200 day moving average is $106.14. The company has a market cap of $44.81 billion, a price-to-earnings ratio of 10.60 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.
Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, May 3rd. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $12.75 billion. During the same quarter in the previous year, the firm posted $2.18 EPS. On average, equities analysts expect that Prudential Financial Inc will post $10.67 EPS for the current fiscal year.
The firm also recently announced 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. 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 2.86%. Prudential Financial’s payout ratio is 28.90%.
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A number of equities analysts have recently weighed in on PRU shares. Vetr upgraded Prudential Financial from a “hold” rating to a “buy” rating and set a $109.90 target price on the stock in a research note on Wednesday, March 22nd. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $117.00 target price on shares of Prudential Financial in a research note on Tuesday, March 21st. Barclays PLC reiterated a “buy” rating and set a $129.00 target price on shares of Prudential Financial in a research note on Sunday, February 19th. Deutsche Bank AG increased their target price on Prudential Financial from $114.00 to $117.00 and gave the stock a “buy” rating in a research note on Wednesday, April 19th. Finally, Zacks Investment Research upgraded Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 target price on the stock in a research note on Tuesday, April 18th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus 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 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 sale, the insider now owns 151,418 shares of the company’s stock, valued at approximately $16,359,200.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Barbara Koster sold 33,743 shares of the business’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $112.87, for a total transaction of $3,808,572.41. Following the sale, the insider now directly owns 45,245 shares in the company, valued at approximately $5,106,803.15. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.
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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