Richard Bernstein Advisors LLC continued to hold its stake in Prudential Financial, Inc. (NYSE:PRU) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 59,568 shares of the financial services provider’s stock at the end of the first quarter. Richard Bernstein Advisors LLC’s holdings in Prudential Financial were worth $6,355,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of PRU. Adirondack Trust Co. raised 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 period. Seven Eight Capital LP bought a new stake in Prudential Financial during the fourth quarter worth about $130,000. Patriot Financial Group Insurance Agency LLC bought a new stake in Prudential Financial during the fourth quarter worth about $134,000. Quadrant Capital Group LLC raised 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 period. Finally, First Personal Financial Services raised 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 period. Institutional investors and hedge funds own 62.99% of the company’s stock.
Prudential Financial, Inc. (NYSE:PRU) opened at 107.75 on Monday. The firm has a market capitalization of $46.22 billion, a PE ratio of 10.93 and a beta of 1.49. The company has a 50-day moving average price of $106.36 and a 200-day moving average price of $106.47. Prudential Financial, Inc. has a 12-month low of $66.51 and a 12-month high of $114.55.
Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, May 3rd. The financial services provider reported $2.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.64 by $0.15. The firm had revenue of $13.24 billion during the quarter, compared to analysts’ expectations of $12.75 billion. Prudential Financial had a net margin of 7.78% and a return on equity of 8.52%. During the same period in the previous year, the company earned $2.18 EPS. On average, analysts predict that Prudential Financial, Inc. will post $10.64 earnings per share for the current year.
The business 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 $0.75 dividend. The ex-dividend date is Friday, May 19th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.78%. Prudential Financial’s dividend payout ratio (DPR) is presently 30.46%.
COPYRIGHT VIOLATION WARNING: This piece was published by BBNS and is the sole property of of BBNS. If you are accessing this piece on another website, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this piece can be accessed at https://baseballnewssource.com/markets/richard-bernstein-advisors-llc-continues-to-hold-position-in-prudential-financial-inc-pru/983352.html.
PRU has been the subject of a number of analyst reports. Vetr upgraded Prudential Financial from a “hold” rating to a “buy” rating and set a $109.90 price target for the company in a research report on Wednesday, March 22nd. Keefe, Bruyette & Woods restated a “buy” rating and issued 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 issued 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 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 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. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Prudential Financial currently 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 Prudential Financial stock in a transaction on Monday, May 8th. The shares were sold at an average price of $108.04, for a total value of $24,077,470.28. Following the transaction, the insider now owns 151,418 shares in the company, valued at approximately $16,359,200.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.66% of the stock is owned by company 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.
Receive News & Ratings for Prudential Financial Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Prudential Financial Inc. and related companies with our FREE daily email newsletter.