Hall Kathryn A. acquired a new position in Prudential Financial Inc (NYSE:PRU) during the second quarter, Holdings Channel reports. The fund acquired 17,525 shares of the financial services provider’s stock, valued at approximately $1,639,000. Prudential Financial accounts for approximately 1.4% of Hall Kathryn A.’s portfolio, making the stock its 3rd largest position.
Other institutional investors have also bought and sold shares of the company. Sun Life Financial INC lifted its stake in shares of Prudential Financial by 470.9% during the second quarter. Sun Life Financial INC now owns 1,136 shares of the financial services provider’s stock valued at $106,000 after acquiring an additional 937 shares during the period. McKinley Carter Wealth Services Inc. acquired a new position in Prudential Financial in the first quarter valued at about $122,000. Vigilant Capital Management LLC acquired a new position in Prudential Financial in the second quarter valued at about $125,000. Stelac Advisory Services LLC acquired a new position in Prudential Financial in the first quarter valued at about $145,000. Finally, Financial Architects Inc lifted its stake in 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 buying an additional 1,234 shares during the period. 63.67% of the stock is currently owned by institutional investors.
PRU has been the topic of several analyst reports. Zacks Investment Research lowered Prudential Financial from a “buy” rating to a “hold” rating in a research note on Monday, July 16th. ValuEngine lowered Prudential Financial from a “sell” rating to a “strong sell” rating in a research note on Friday, June 29th. Credit Suisse Group cut their target price on Prudential Financial from $102.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, August 17th. Royal Bank of Canada reissued a “buy” rating and issued a $122.00 target price on shares of Prudential Financial in a research note on Friday, August 3rd. Finally, Deutsche Bank cut their target price on Prudential Financial from $125.00 to $113.00 and set a “hold” rating on the stock in a research note on Friday, May 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Prudential Financial currently has an average rating of “Buy” and an average price target of $116.43.
Shares of Prudential Financial stock opened at $99.18 on Thursday. Prudential Financial Inc has a 1 year low of $92.05 and a 1 year high of $127.14. The stock has a market capitalization of $41.85 billion, a price-to-earnings ratio of 9.37, a price-to-earnings-growth ratio of 0.92 and a beta of 1.51. 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 announced its quarterly earnings results on Wednesday, August 1st. The financial services provider reported $3.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.08 by ($0.07). Prudential Financial had a return on equity of 9.98% and a net margin of 13.16%. The business had revenue of $13.04 billion during the quarter, compared to the consensus estimate of $14.19 billion. During the same quarter last year, the company earned $2.09 earnings per share. research analysts predict that Prudential Financial Inc will post 12.12 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 13th. Shareholders of record on Tuesday, August 21st will be issued a $0.90 dividend. The ex-dividend date of this dividend is Monday, August 20th. This represents a $3.60 annualized dividend and a dividend yield of 3.63%. Prudential Financial’s dividend payout ratio (DPR) 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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