Wealthfront Advisers LLC decreased its holdings in shares of Prudential Financial Inc (NYSE:PRU) by 7.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,267 shares of the financial services provider’s stock after selling 1,988 shares during the period. Wealthfront Advisers LLC’s holdings in Prudential Financial were worth $2,413,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Actinver Wealth Management Inc. purchased a new position in Prudential Financial during the fourth quarter worth about $612,000. National Pension Service raised its holdings in Prudential Financial by 6.8% during the fourth quarter. National Pension Service now owns 452,110 shares of the financial services provider’s stock worth $41,449,000 after purchasing an additional 28,876 shares in the last quarter. Semmax Financial Advisors Inc. purchased a new position in Prudential Financial during the fourth quarter worth about $35,000. Bank of The West raised its holdings in Prudential Financial by 1.2% during the first quarter. Bank of The West now owns 72,632 shares of the financial services provider’s stock worth $6,673,000 after purchasing an additional 870 shares in the last quarter. Finally, First Republic Investment Management Inc. raised its holdings in Prudential Financial by 19.7% during the first quarter. First Republic Investment Management Inc. now owns 14,882 shares of the financial services provider’s stock worth $1,367,000 after purchasing an additional 2,447 shares in the last quarter. Institutional investors and hedge funds own 63.29% of the company’s stock.
PRU has been the subject of several analyst reports. Zacks Investment Research raised shares of Prudential Financial from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. UBS Group increased their target price on shares of Prudential Financial from $108.00 to $114.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Deutsche Bank increased their target price on shares of Prudential Financial from $97.00 to $104.00 and gave the company a “hold” rating in a report on Friday, April 12th. ValuEngine raised shares of Prudential Financial from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, Citigroup set a $112.00 target price on shares of Prudential Financial and gave the company a “buy” rating in a report on Thursday, May 23rd. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $112.38.
In other news, insider Nicholas C. Silitch sold 13,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $95.25, for a total value of $1,238,250.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.76% of the stock is owned by corporate insiders.
Prudential Financial stock traded up $0.25 during mid-day trading on Tuesday, reaching $99.99. The company had a trading volume of 35,349 shares, compared to its average volume of 1,965,845. Prudential Financial Inc has a 1 year low of $75.61 and a 1 year high of $106.64. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.33. The stock has a market cap of $40.49 billion, a PE ratio of 8.56, a price-to-earnings-growth ratio of 0.87 and a beta of 1.50.
Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, May 1st. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.14 by ($0.14). Prudential Financial had a net margin of 6.18% and a return on equity of 9.87%. The company had revenue of $13.65 billion during the quarter, compared to analysts’ expectations of $13.74 billion. During the same period last year, the business posted $3.08 earnings per share. On average, sell-side analysts forecast that Prudential Financial Inc will post 12.77 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, May 28th will be given a $1.00 dividend. The ex-dividend date is Friday, May 24th. This represents a $4.00 annualized dividend and a dividend yield of 4.00%. Prudential Financial’s dividend payout ratio is presently 34.22%.
About Prudential Financial
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.
Featured Article: What are trading strategies for the 52-week high/low?
Want to see what other hedge funds are holding PRU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prudential Financial Inc (NYSE:PRU).
Receive News & Ratings for Prudential Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial and related companies with MarketBeat.com's FREE daily email newsletter.