Parametric Portfolio Associates LLC reduced its stake in Prudential Financial, Inc. (NYSE:PRU) by 23.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 762,897 shares of the financial services provider’s stock after selling 236,417 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.18% of Prudential Financial worth $81,386,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. WESPAC Advisors LLC bought a new position in shares of Prudential Financial during the first quarter valued at about $1,029,000. Warren Averett Asset Management LLC bought a new position in shares of Prudential Financial during the first quarter valued at about $479,000. Toronto Dominion Bank raised its position in shares of Prudential Financial by 34.3% in the first quarter. Toronto Dominion Bank now owns 118,402 shares of the financial services provider’s stock valued at $12,630,000 after buying an additional 30,241 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Prudential Financial by 29.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,897 shares of the financial services provider’s stock valued at $3,403,000 after buying an additional 7,247 shares during the period. Finally, Commerce Bank raised its position in shares of Prudential Financial by 18.8% in the first quarter. Commerce Bank now owns 10,169 shares of the financial services provider’s stock valued at $1,084,000 after buying an additional 1,608 shares during the period. 62.99% of the stock is currently owned by hedge funds and other institutional investors.
Prudential Financial, Inc. (PRU) traded up 0.17% during trading on Thursday, reaching $108.28. 1,799,497 shares of the company were exchanged. Prudential Financial, Inc. has a 1-year low of $66.51 and a 1-year high of $114.55. The company’s 50-day moving average price is $106.45 and its 200-day moving average price is $106.63. The stock has a market capitalization of $46.45 billion, a P/E ratio of 10.99 and a beta of 1.49.
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, topping the Zacks’ consensus estimate of $2.64 by $0.15. Prudential Financial had a net margin of 7.78% and a return on equity of 8.52%. The firm had revenue of $13.24 billion for the quarter, compared to the consensus estimate of $12.75 billion. During the same period in the prior year, the firm posted $2.18 earnings per share. On average, equities analysts forecast that Prudential Financial, Inc. will post $10.65 EPS for the current year.
The business 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 dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Friday, May 19th. Prudential Financial’s payout ratio is 30.46%.
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Several research analysts recently issued reports on PRU shares. Vetr upgraded 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. Keefe, Bruyette & Woods restated a “buy” rating and set a $117.00 price target on shares of Prudential Financial in a research report on Tuesday, March 21st. Barclays PLC restated a “buy” rating and set a $129.00 price target on shares of Prudential Financial in a research report on Sunday, February 19th. Deutsche Bank AG upped their price target on shares of Prudential Financial from $114.00 to $117.00 and gave the company a “buy” rating in a research report on Wednesday, April 19th. Finally, Zacks Investment Research upgraded 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 report on Tuesday, April 18th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $108.84.
In other Prudential Financial news, insider Charles F. Lowrey sold 222,857 shares of the 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 transaction, the insider now directly owns 151,418 shares of the company’s stock, valued at $16,359,200.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.66% 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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