Sigma Planning Corp increased its stake in shares of Prudential Financial Inc (NYSE:PRU) by 15.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,449 shares of the financial services provider’s stock after buying an additional 2,123 shares during the quarter. Sigma Planning Corp’s holdings in Prudential Financial were worth $1,560,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Joseph P. Lucia & Associates LLC acquired a new stake in Prudential Financial during the 1st quarter valued at $25,000. Coastal Capital Group Inc. acquired a new stake in Prudential Financial during the 2nd quarter valued at $25,000. Ibex Wealth Advisors acquired a new stake in Prudential Financial during the 2nd quarter valued at $26,000. Bartlett & Co. LLC increased its holdings in Prudential Financial by 163.0% during the 2nd quarter. Bartlett & Co. LLC now owns 263 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 163 shares in the last quarter. Finally, Berman Capital Advisors LLC increased its holdings in Prudential Financial by 68.0% during the 1st quarter. Berman Capital Advisors LLC now owns 346 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 140 shares in the last quarter. Institutional investors and hedge funds own 63.65% of the company’s stock.
A number of equities research analysts recently weighed in on PRU shares. Citigroup cut Prudential Financial from a “buy” rating to a “neutral” rating and dropped their price target for the company from $112.00 to $94.00 in a report on Monday, August 5th. UBS Group cut Prudential Financial from a “buy” rating to a “neutral” rating and dropped their price target for the company from $116.00 to $112.00 in a report on Monday, May 13th. ValuEngine cut Prudential Financial from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Wells Fargo & Co set a $115.00 price target on Prudential Financial and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Zacks Investment Research raised Prudential Financial from a “sell” rating to a “hold” rating and set a $90.00 price target for the company in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $103.59.
Shares of NYSE PRU traded up $1.94 during midday trading on Friday, hitting $82.03. The stock had a trading volume of 2,602,300 shares, compared to its average volume of 2,444,727. The company’s 50-day simple moving average is $96.54 and its 200 day simple moving average is $97.13. The firm has a market cap of $32.32 billion, a P/E ratio of 7.02, a price-to-earnings-growth ratio of 0.72 and a beta of 1.49. Prudential Financial Inc has a fifty-two week low of $75.61 and a fifty-two week high of $106.64. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.11 and a quick ratio of 0.11.
Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, July 31st. The financial services provider reported $3.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.22 by ($0.08). The firm had revenue of $14.11 billion during the quarter, compared to analyst estimates of $13.63 billion. Prudential Financial had a net margin of 6.92% and a return on equity of 9.24%. During the same period last year, the business posted $3.01 earnings per share. Equities analysts expect that Prudential Financial Inc will post 12.49 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th will be paid a $1.00 dividend. The ex-dividend date is Monday, August 19th. This represents a $4.00 annualized dividend and a dividend yield of 4.88%. Prudential Financial’s dividend payout ratio (DPR) is currently 34.22%.
Prudential Financial Company Profile
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.
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