Xact Kapitalforvaltning AB reduced its stake in shares of Prudential Financial Inc (NYSE:PRU) by 3.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 103,267 shares of the financial services provider’s stock after selling 4,148 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in Prudential Financial were worth $10,693,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of PRU. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Prudential Financial during the 4th quarter worth about $151,327,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of Prudential Financial by 76.3% during the 1st 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 in the last quarter. BlackRock Inc. lifted its holdings in shares of Prudential Financial by 3.6% during the 1st 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 in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Prudential Financial by 305.3% during the 4th quarter. Two Sigma Advisers LP now owns 1,412,795 shares of the financial services provider’s stock valued at $162,443,000 after purchasing an additional 1,064,223 shares in the last quarter. Finally, OppenheimerFunds Inc. lifted its holdings in shares of Prudential Financial by 557.9% during the 1st quarter. OppenheimerFunds Inc. now owns 823,538 shares of the financial services provider’s stock valued at $85,277,000 after purchasing an additional 698,362 shares in the last quarter. Institutional investors own 64.37% of the company’s stock.
Prudential Financial opened at $97.60 on Wednesday, according to MarketBeat.com. Prudential Financial Inc has a 52 week low of $94.51 and a 52 week high of $127.14. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $41.14 billion, a price-to-earnings ratio of 9.22, a PEG ratio of 0.95 and a beta of 1.46.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, May 2nd. The financial services provider reported $3.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.98 by $0.10. Prudential Financial had a net margin of 13.57% and a return on equity of 9.25%. The company had revenue of $12.88 billion during the quarter, compared to analysts’ expectations of $13.68 billion. During the same quarter in the prior year, the company earned $2.79 EPS. equities analysts expect that Prudential Financial Inc will post 12.15 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 14th. Stockholders of record on Tuesday, May 22nd were paid a $0.90 dividend. The ex-dividend date of this dividend was Monday, May 21st. This represents a $3.60 annualized dividend and a dividend yield of 3.69%. Prudential Financial’s dividend payout ratio (DPR) is 34.03%.
Several equities analysts have recently weighed in on PRU shares. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $128.00 price objective on shares of Prudential Financial in a report on Friday, February 23rd. Zacks Investment Research cut Prudential Financial from a “hold” rating to a “sell” rating in a report on Tuesday, March 20th. UBS Group upgraded Prudential Financial from a “neutral” rating to a “buy” rating in a report on Friday, March 2nd. ValuEngine cut Prudential Financial from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Finally, Deutsche Bank cut their price objective on Prudential Financial from $125.00 to $113.00 and set a “hold” rating on the stock in a report on Friday, May 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $114.75.
About Prudential Financial
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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