Twin Tree Management LP lifted its position in shares of Prudential Financial Inc (NYSE:PRU) by 326.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,944 shares of the financial services provider’s stock after purchasing an additional 4,244 shares during the period. Twin Tree Management LP’s holdings in Prudential Financial were worth $275,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its position in Prudential Financial by 14.2% during the first quarter. Wells Fargo & Company MN now owns 2,023,516 shares of the financial services provider’s stock valued at $209,536,000 after acquiring an additional 251,240 shares during the period. Daiwa Securities Group Inc. grew its position in Prudential Financial by 8.6% during the first quarter. Daiwa Securities Group Inc. now owns 14,270 shares of the financial services provider’s stock valued at $1,478,000 after acquiring an additional 1,128 shares during the period. Dupont Capital Management Corp grew its position in Prudential Financial by 6.3% during the first quarter. Dupont Capital Management Corp now owns 54,711 shares of the financial services provider’s stock valued at $5,665,000 after acquiring an additional 3,244 shares during the period. Sentry Investment Management LLC grew its position in Prudential Financial by 7.3% during the first quarter. Sentry Investment Management LLC now owns 31,238 shares of the financial services provider’s stock valued at $3,235,000 after acquiring an additional 2,121 shares during the period. Finally, West Branch Capital LLC purchased a new stake in Prudential Financial during the first quarter valued at about $751,000. 64.61% of the stock is currently owned by institutional investors.
A number of equities research analysts have issued reports on the company. Barclays lowered their price target on Prudential Financial from $135.00 to $130.00 and set an “overweight” rating for the company in a research report on Monday, July 9th. Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $111.00 price target for the company in a research report on Monday, August 6th. Credit Suisse Group assumed coverage on Prudential Financial in a research report on Wednesday, April 25th. They set a “neutral” rating and a $102.00 price target for the company. B. Riley lowered their price target on Prudential Financial from $129.00 to $116.00 and set a “buy” rating for the company in a research report on Monday, July 16th. Finally, ValuEngine downgraded Prudential Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $116.43.
Shares of PRU opened at $98.80 on Friday. The stock has a market cap of $40.44 billion, a price-to-earnings ratio of 9.34, a P/E/G ratio of 0.89 and a beta of 1.51. Prudential Financial Inc has a 12 month low of $92.05 and a 12 month high of $127.14. 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 (NYSE:PRU) last issued its quarterly earnings data on Wednesday, August 1st. The financial services provider reported $3.01 EPS for the quarter, missing the Zacks’ consensus estimate of $3.08 by ($0.07). The company had revenue of $13.04 billion for the quarter, compared to analyst estimates of $14.19 billion. Prudential Financial had a return on equity of 9.98% and a net margin of 13.16%. During the same quarter in the prior year, the firm earned $2.09 EPS. equities research analysts predict that Prudential Financial Inc will post 12.12 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 13th. Shareholders of record on Tuesday, August 21st will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend is Monday, August 20th. Prudential Financial’s dividend payout ratio is presently 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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