Hancock Holding Co. cut its position in Prudential Financial Inc (NYSE:PRU) by 0.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,077 shares of the financial services provider’s stock after selling 27 shares during the period. Hancock Holding Co.’s holdings in Prudential Financial were worth $435,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Prudential Financial by 3.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 330,925 shares of the financial services provider’s stock worth $27,020,000 after buying an additional 10,321 shares in the last quarter. Mizuho Asset Management Co. Ltd. raised its position in Prudential Financial by 32.4% in the third quarter. Mizuho Asset Management Co. Ltd. now owns 22,493 shares of the financial services provider’s stock worth $1,837,000 after buying an additional 5,503 shares in the last quarter. Bragg Financial Advisors Inc raised its position in Prudential Financial by 8.6% in the third quarter. Bragg Financial Advisors Inc now owns 21,175 shares of the financial services provider’s stock worth $1,729,000 after buying an additional 1,669 shares in the last quarter. Usca Ria LLC raised its position in Prudential Financial by 2.2% in the third quarter. Usca Ria LLC now owns 52,477 shares of the financial services provider’s stock worth $4,285,000 after buying an additional 1,117 shares in the last quarter. Finally, Cetera Advisors LLC bought a new position in Prudential Financial during the third quarter worth approximately $258,000. 60.91% of the stock is currently owned by institutional investors.
Shares of Prudential Financial Inc (NYSE PRU) opened at 105.41 on Friday. The company has a market cap of $45.22 billion, a P/E ratio of 10.70 and a beta of 1.69. Prudential Financial Inc has a one year low of $66.51 and a one year high of $114.55. The company’s 50-day moving average price is $106.27 and its 200 day moving average price is $106.42.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, May 3rd. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.64 by $0.15. The business had revenue of $13.24 billion during the quarter, compared to analysts’ expectations of $12.75 billion. Prudential Financial had a return on equity of 7.96% and a net margin of 7.63%. During the same quarter in the previous year, the business earned $2.18 earnings per share. On average, equities research analysts anticipate that Prudential Financial Inc will post $10.64 earnings per share 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 paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Friday, May 19th. Prudential Financial’s payout ratio is 28.90%.
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A number of equities analysts recently commented on PRU shares. Atlantic Securities lowered Prudential Financial from an “overweight” rating to a “neutral” rating in a research note on Friday, February 10th. They noted that the move was a valuation call. Zacks Investment Research lowered Prudential Financial from a “buy” rating to a “hold” rating in a research note on Friday, February 10th. Barclays PLC reissued a “buy” rating and issued a $129.00 price target on shares of Prudential Financial in a research note on Sunday, February 19th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $117.00 price target on shares of Prudential Financial in a research note on Tuesday, March 21st. Finally, Vetr raised Prudential Financial from a “hold” rating to a “buy” rating and set a $109.90 price target on the stock in a research note on Wednesday, March 22nd. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Prudential Financial 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 Prudential Financial stock in a transaction on Monday, May 8th. The stock was sold at an average price of $108.04, for a total transaction of $24,077,470.28. Following the completion of the transaction, the insider now owns 151,418 shares in the company, valued at $16,359,200.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by insiders.
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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