American Century Companies Inc. Boosts Holdings in Prudential Financial (PRU)

American Century Companies Inc. raised its position in Prudential Financial (NYSE:PRU) by 228.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 84,637 shares of the financial services provider’s stock after purchasing an additional 58,843 shares during the quarter. American Century Companies Inc.’s holdings in Prudential Financial were worth $8,764,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PRU. Creative Planning raised its position in shares of Prudential Financial by 3.2% during the fourth quarter. Creative Planning now owns 24,588 shares of the financial services provider’s stock worth $2,827,000 after acquiring an additional 754 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Prudential Financial by 5.5% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,561,532 shares of the financial services provider’s stock worth $179,545,000 after acquiring an additional 81,628 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Prudential Financial by 230.9% during the fourth quarter. State of Alaska Department of Revenue now owns 42,169 shares of the financial services provider’s stock worth $4,846,000 after acquiring an additional 29,424 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Prudential Financial by 3.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 13,045 shares of the financial services provider’s stock worth $1,499,000 after acquiring an additional 433 shares during the last quarter. Finally, Oakworth Capital Inc. raised its position in shares of Prudential Financial by 27.4% during the fourth quarter. Oakworth Capital Inc. now owns 2,526 shares of the financial services provider’s stock worth $293,000 after acquiring an additional 543 shares during the last quarter. Hedge funds and other institutional investors own 64.48% of the company’s stock.

Shares of PRU stock opened at $101.61 on Tuesday. The company has a market capitalization of $43.02 billion, a price-to-earnings ratio of 9.60, a price-to-earnings-growth ratio of 0.99 and a beta of 1.52. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.35. Prudential Financial has a fifty-two week low of $95.83 and a fifty-two week high of $127.14.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, May 2nd. The financial services provider reported $3.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.98 by $0.10. The business had revenue of $12.88 billion during the quarter, compared to the consensus estimate of $13.68 billion. Prudential Financial had a return on equity of 9.25% and a net margin of 13.57%. During the same period in the previous year, the company posted $2.79 earnings per share. research analysts anticipate that Prudential Financial will post 12.15 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 14th. Shareholders of record on Tuesday, May 22nd will be issued a $0.90 dividend. The ex-dividend date of this dividend is Monday, May 21st. This represents a $3.60 dividend on an annualized basis and a yield of 3.54%. Prudential Financial’s payout ratio is currently 34.03%.

In other Prudential Financial news, insider Stephen Pelletier sold 40,729 shares of Prudential Financial stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $108.75, for a total value of $4,429,278.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.61% of the company’s stock.

A number of brokerages have recently issued reports on PRU. Deutsche Bank lowered their price objective on Prudential Financial from $125.00 to $113.00 and set a “hold” rating for the company in a research report on Friday, May 4th. Zacks Investment Research upgraded Prudential Financial from a “sell” rating to a “hold” rating in a research report on Friday, May 4th. Wells Fargo restated a “hold” rating and set a $111.00 price objective on shares of Prudential Financial in a research report on Thursday, May 3rd. ValuEngine downgraded Prudential Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Finally, Credit Suisse Group began coverage on Prudential Financial in a research report on Wednesday, April 25th. They set a “neutral” rating and a $102.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $116.50.

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.

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 (NYSE:PRU).

Institutional Ownership by Quarter for Prudential Financial (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.


Leave a Reply