HL Financial Services LLC increased its stake in Prudential Financial Inc (NYSE:PRU) by 16.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,666 shares of the financial services provider’s stock after acquiring an additional 814 shares during the period. HL Financial Services LLC’s holdings in Prudential Financial were worth $530,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. McKinley Carter Wealth Services Inc. acquired a new stake in shares of Prudential Financial in the first quarter valued at $122,000. Vigilant Capital Management LLC acquired a new stake in shares of Prudential Financial in the second quarter valued at $125,000. Stelac Advisory Services LLC acquired a new stake in shares of Prudential Financial in the first quarter valued at $145,000. Financial Architects Inc raised its stake in shares of Prudential Financial by 303.9% in the second quarter. Financial Architects Inc now owns 1,640 shares of the financial services provider’s stock valued at $153,000 after acquiring an additional 1,234 shares in the last quarter. Finally, Cerebellum GP LLC acquired a new stake in shares of Prudential Financial in the second quarter valued at $167,000. Institutional investors and hedge funds own 64.61% of the company’s stock.
Several analysts have recently issued reports on PRU shares. Credit Suisse Group started coverage on Prudential Financial in a research note on Wednesday, April 25th. They issued a “neutral” rating and a $102.00 price objective on the stock. B. Riley dropped their target price on Prudential Financial from $129.00 to $116.00 and set a “buy” rating on the stock in a report on Monday, July 16th. ValuEngine lowered Prudential Financial from a “sell” rating to a “strong sell” rating in a report on Friday, June 29th. Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a report on Tuesday, July 17th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $122.00 target price on shares of Prudential Financial in a report on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $116.43.
NYSE:PRU opened at $98.80 on Friday. The firm has a market capitalization of $40.44 billion, a P/E ratio of 9.34, a price-to-earnings-growth ratio of 0.89 and a beta of 1.51. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.12 and a current ratio of 0.12. Prudential Financial Inc has a 12 month low of $92.05 and a 12 month high of $127.14.
Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, August 1st. The financial services provider reported $3.01 EPS for the quarter, missing the consensus estimate of $3.08 by ($0.07). The business had revenue of $13.04 billion during the quarter, compared to analysts’ expectations of $14.19 billion. Prudential Financial had a net margin of 13.16% and a return on equity of 9.98%. During the same period last year, the company earned $2.09 EPS. analysts predict that Prudential Financial Inc will post 12.12 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 13th. Shareholders of record on Tuesday, August 21st will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Monday, August 20th. Prudential Financial’s payout ratio is 34.03%.
About Prudential Financial
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through U.S. Individual Solutions, U.S. Workplace Solutions, Investment Management, and International Insurance divisions.
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