Xact Kapitalforvaltning AB lessened its holdings in Prudential Financial Inc (NYSE:PRU) by 3.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 103,267 shares of the financial services provider’s stock after selling 4,148 shares during the period. Xact Kapitalforvaltning AB’s holdings in Prudential Financial were worth $10,693,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of PRU. Amundi Pioneer Asset Management Inc. bought a new position in Prudential Financial in the fourth quarter valued at about $151,327,000. Schwab Charles Investment Management Inc. raised its position in Prudential Financial by 76.3% in the first 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 purchasing an additional 1,191,068 shares during the last quarter. BlackRock Inc. raised its position in Prudential Financial by 3.6% in the first quarter. BlackRock Inc. now owns 31,060,511 shares of the financial services provider’s stock valued at $3,216,315,000 after purchasing an additional 1,076,466 shares during the last quarter. Two Sigma Advisers LP raised its position in shares of Prudential Financial by 305.3% during the fourth quarter. Two Sigma Advisers LP now owns 1,412,795 shares of the financial services provider’s stock worth $162,443,000 after acquiring an additional 1,064,223 shares during the last quarter. Finally, OppenheimerFunds Inc. raised its position in shares of Prudential Financial by 557.9% during the first quarter. OppenheimerFunds Inc. now owns 823,538 shares of the financial services provider’s stock worth $85,277,000 after acquiring an additional 698,362 shares during the last quarter. Hedge funds and other institutional investors own 64.41% of the company’s stock.
Shares of NYSE:PRU traded down $0.19 during midday trading on Wednesday, reaching $95.12. 47,792 shares of the company traded hands, compared to its average volume of 1,971,193. Prudential Financial Inc has a 12 month low of $94.51 and a 12 month high of $127.14. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.12 and a current ratio of 0.12. The firm has a market cap of $40.31 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 0.93 and a beta of 1.46.
Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, May 2nd. The financial services provider reported $3.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.98 by $0.10. Prudential Financial had a return on equity of 9.25% and a net margin of 13.57%. The business had revenue of $12.88 billion during the quarter, compared to analysts’ expectations of $13.68 billion. During the same period in the previous year, the business earned $2.79 earnings per share. equities analysts predict that Prudential Financial Inc will post 12.14 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 14th. Stockholders of record on Tuesday, May 22nd were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date was Monday, May 21st. Prudential Financial’s payout ratio is currently 34.03%.
A number of equities research analysts have weighed in on PRU shares. Zacks Investment Research downgraded Prudential Financial from a “buy” rating to a “hold” rating in a report on Monday, June 18th. Goldman Sachs Group raised Prudential Financial from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $117.00 to $114.00 in a research note on Monday, June 4th. Deutsche Bank reduced their price objective on Prudential Financial from $125.00 to $113.00 and set a “hold” rating for the company in a research note on Friday, May 4th. Wells Fargo & Co reaffirmed a “hold” rating and set a $111.00 target price on shares of Prudential Financial in a research report on Thursday, May 3rd. Finally, ValuEngine cut Prudential Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. Prudential Financial currently has an average rating of “Buy” and an average target price of $114.75.
Prudential Financial Company 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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