Nuveen Asset Management LLC decreased its holdings in shares of Prudential Financial Inc (NYSE:PRU) by 13.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 378,041 shares of the financial services provider’s stock after selling 60,317 shares during the period. Nuveen Asset Management LLC owned approximately 0.09% of Prudential Financial worth $39,146,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in PRU. Victory Capital Management Inc. raised its holdings in Prudential Financial by 9.8% during the fourth quarter. Victory Capital Management Inc. now owns 96,863 shares of the financial services provider’s stock worth $11,137,000 after buying an additional 8,627 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new stake in shares of Prudential Financial in the fourth quarter valued at about $398,000. Calton & Associates Inc. purchased a new stake in shares of Prudential Financial in the fourth quarter valued at about $285,000. Palladium Partners LLC purchased a new stake in shares of Prudential Financial in the fourth quarter valued at about $288,000. Finally, Sompo Japan Nipponkoa Asset Management CO. LTD. purchased a new stake in shares of Prudential Financial in the fourth quarter valued at about $897,000. Hedge funds and other institutional investors own 64.46% of the company’s stock.
PRU has been the subject of several analyst reports. Bank of America initiated coverage on shares of Prudential Financial in a report on Monday, March 26th. They issued a “buy” rating and a $117.00 target price for the company. UBS Group upgraded shares of Prudential Financial from a “neutral” rating to a “buy” rating in a report on Friday, March 2nd. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $128.00 target price on shares of Prudential Financial in a report on Friday, February 23rd. Goldman Sachs Group upgraded shares of Prudential Financial from a “neutral” rating to a “buy” rating and lowered their target price for the company from $117.00 to $114.00 in a report on Monday. Finally, Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $111.00 target price for the company in a report on Monday. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company’s stock. Prudential Financial has an average rating of “Buy” and a consensus target price of $114.75.
Prudential Financial opened at $99.65 on Thursday, according to MarketBeat. The stock has a market cap of $41.40 billion, a P/E ratio of 9.42, a P/E/G ratio of 0.95 and a beta of 1.46. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.12 and a quick ratio of 0.12. Prudential Financial Inc has a fifty-two week low of $94.51 and a fifty-two week high of $127.14.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, May 2nd. The financial services provider reported $3.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.98 by $0.10. The company had revenue of $12.88 billion during the quarter, compared to analyst estimates of $13.68 billion. Prudential Financial had a net margin of 13.57% and a return on equity of 9.25%. During the same quarter in the prior year, the business earned $2.79 earnings per share. analysts predict that Prudential Financial Inc will post 12.15 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Tuesday, May 22nd will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Monday, May 21st. This represents a $3.60 annualized dividend and a yield of 3.61%. Prudential Financial’s payout ratio is currently 34.03%.
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.
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 Inc (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.