Schroder Investment Management Group reduced its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 10.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,853 shares of the financial services provider’s stock after selling 19,494 shares during the period. Schroder Investment Management Group’s holdings in Prudential Financial were worth $18,761,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. Adirondack Trust Co. raised its stake in Prudential Financial by 7.6% in the first quarter. Adirondack Trust Co. now owns 1,133 shares of the financial services provider’s stock valued at $121,000 after buying an additional 80 shares in the last quarter. Seven Eight Capital LP bought a new stake in Prudential Financial during the fourth quarter valued at $130,000. Patriot Financial Group Insurance Agency LLC bought a new stake in Prudential Financial during the fourth quarter valued at $134,000. Quadrant Capital Group LLC raised its stake in Prudential Financial by 11.1% in the first quarter. Quadrant Capital Group LLC now owns 1,376 shares of the financial services provider’s stock valued at $139,000 after buying an additional 137 shares in the last quarter. Finally, First Personal Financial Services raised its stake in Prudential Financial by 3.4% in the first quarter. First Personal Financial Services now owns 1,407 shares of the financial services provider’s stock valued at $150,000 after buying an additional 46 shares in the last quarter. Institutional investors own 62.99% of the company’s stock.
Prudential Financial, Inc. (NYSE:PRU) opened at 107.71 on Friday. The stock has a market capitalization of $46.21 billion, a P/E ratio of 10.93 and a beta of 1.49. Prudential Financial, Inc. has a 12-month low of $66.51 and a 12-month high of $114.55. The firm’s 50-day moving average is $106.50 and its 200-day moving average is $106.71.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, May 3rd. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.15. The business had revenue of $13.24 billion during the quarter, compared to the consensus estimate of $12.75 billion. Prudential Financial had a return on equity of 8.52% and a net margin of 7.78%. During the same quarter in the prior year, the company earned $2.18 earnings per share. Analysts predict that Prudential Financial, Inc. will post $10.65 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Tuesday, May 23rd were issued a $0.75 dividend. The ex-dividend date was Friday, May 19th. This represents a $3.00 dividend on an annualized basis and a yield of 2.79%. Prudential Financial’s dividend payout ratio (DPR) is 30.46%.
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Several research firms have recently weighed in on PRU. BidaskClub upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a research note on Friday. Zacks Investment Research lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Wednesday. Wells Fargo & Company reiterated a “hold” rating on shares of Prudential Financial in a research note on Tuesday, June 6th. ValuEngine upgraded shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Finally, J P Morgan Chase & Co lifted their price objective on shares of Prudential Financial from $108.00 to $113.00 and gave the company an “overweight” rating in a research note on Monday, April 3rd. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Prudential Financial has a consensus rating of “Buy” and a consensus price target of $108.84.
In other Prudential Financial news, insider Charles F. Lowrey sold 222,857 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $108.04, for a total value of $24,077,470.28. Following the completion of the transaction, the insider now owns 151,418 shares in the company, valued at $16,359,200.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.66% of the stock is currently owned by corporate insiders.
Prudential Financial Company Profile
Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.
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