Mork Capital Management LLC lifted its holdings in shares of Prudential Financial Inc (NYSE:PRU) by 42.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,800 shares of the financial services provider’s stock after buying an additional 6,200 shares during the period. Prudential Financial accounts for approximately 1.7% of Mork Capital Management LLC’s holdings, making the stock its 8th biggest position. Mork Capital Management LLC’s holdings in Prudential Financial were worth $1,945,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in PRU. Schwab Charles Investment Management Inc. grew its position in shares of Prudential Financial by 76.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 2,752,600 shares of the financial services provider’s stock valued at $285,032,000 after buying an additional 1,191,068 shares during the last quarter. BlackRock Inc. grew its position in Prudential Financial by 3.6% in the 1st quarter. BlackRock Inc. now owns 31,060,511 shares of the financial services provider’s stock worth $3,216,315,000 after purchasing an additional 1,076,466 shares during the last quarter. OppenheimerFunds Inc. grew its position in Prudential Financial by 557.9% in the 1st quarter. OppenheimerFunds Inc. now owns 823,538 shares of the financial services provider’s stock worth $85,277,000 after purchasing an additional 698,362 shares during the last quarter. Capital Growth Management LP grew its position in Prudential Financial by 3,366.7% in the 1st quarter. Capital Growth Management LP now owns 520,000 shares of the financial services provider’s stock worth $53,846,000 after purchasing an additional 505,000 shares during the last quarter. Finally, Hexavest Inc. bought a new position in Prudential Financial in the 2nd quarter worth about $39,045,000. 64.61% of the stock is owned by institutional investors and hedge funds.
PRU has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $106.00 target price for the company in a research report on Monday, July 9th. Goldman Sachs Group upgraded shares of Prudential Financial from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $117.00 to $114.00 in a research report on Monday, June 4th. B. Riley decreased their target price on shares of Prudential Financial from $129.00 to $116.00 and set a “buy” rating for the company in a research report on Monday, July 16th. Royal Bank of Canada restated a “buy” rating and issued a $122.00 target price on shares of Prudential Financial in a research report on Friday, August 3rd. Finally, Deutsche Bank decreased their target price on shares of Prudential Financial from $125.00 to $113.00 and set a “hold” rating for the company in a research report on Friday, May 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $116.43.
Shares of NYSE:PRU opened at $98.80 on Monday. The company has a market capitalization of $40.44 billion, a PE ratio of 9.34, a P/E/G ratio of 0.89 and a beta of 1.51. Prudential Financial Inc has a twelve month low of $92.05 and a twelve month high of $127.14. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.34.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, August 1st. The financial services provider reported $3.01 earnings per share for the quarter, missing analysts’ consensus estimates of $3.08 by ($0.07). The company had revenue of $13.04 billion during 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 period in the prior year, the company posted $2.09 earnings per share. equities analysts forecast that Prudential Financial Inc will post 12.12 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 13th. Stockholders of record on Tuesday, August 21st will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date is Monday, August 20th. Prudential Financial’s dividend payout ratio is currently 34.03%.
Prudential Financial Profile
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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