CHURCHILL MANAGEMENT Corp reduced its stake in Prudential Financial, Inc. (NYSE:PRU) by 8.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,294 shares of the financial services provider’s stock after selling 4,583 shares during the quarter. CHURCHILL MANAGEMENT Corp’s holdings in Prudential Financial were worth $4,005,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Summit X LLC acquired a new stake in shares of Prudential Financial during the 3rd quarter worth about $25,000. BNC Wealth Management LLC acquired a new stake in Prudential Financial during the third quarter worth approximately $27,000. CX Institutional grew its stake in Prudential Financial by 104.3% in the 3rd quarter. CX Institutional now owns 472 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 241 shares during the period. Mercer Capital Advisers Inc. acquired a new position in Prudential Financial in the 3rd quarter valued at $30,000. Finally, Old North State Trust LLC purchased a new position in shares of Prudential Financial during the 3rd quarter worth $32,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.
PRU has been the subject of several analyst reports. Barclays initiated coverage on Prudential Financial in a research note on Tuesday, November 17th. They issued an “equal weight” rating and a $76.00 target price for the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded shares of Prudential Financial from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $58.00 to $80.00 in a report on Tuesday, December 8th. Morgan Stanley boosted their target price on shares of Prudential Financial from $76.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday, November 18th. ValuEngine raised shares of Prudential Financial from a “strong sell” rating to a “sell” rating in a research note on Monday, December 7th. Finally, Credit Suisse Group lifted their price target on shares of Prudential Financial from $64.00 to $79.00 and gave the company a “neutral” rating in a report on Tuesday, December 1st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. Prudential Financial presently has a consensus rating of “Hold” and a consensus price target of $75.38.
NYSE:PRU opened at $82.24 on Thursday. The firm’s fifty day simple moving average is $78.49 and its 200 day simple moving average is $69.45. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.30. Prudential Financial, Inc. has a twelve month low of $38.62 and a twelve month high of $97.24. The firm has a market capitalization of $32.57 billion, a price-to-earnings ratio of -132.65, a PEG ratio of 0.77 and a beta of 1.69.
Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, November 3rd. The financial services provider reported $3.21 EPS for the quarter, beating the consensus estimate of $2.69 by $0.52. Prudential Financial had a positive return on equity of 6.13% and a negative net margin of 0.25%. The company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same period last year, the company posted $3.22 earnings per share. On average, analysts predict that Prudential Financial, Inc. will post 9.45 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, December 17th. Investors of record on Tuesday, November 24th were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Monday, November 23rd. This represents a $4.40 annualized dividend and a dividend yield of 5.35%. Prudential Financial’s payout ratio is currently 37.64%.
Prudential Financial Company Profile
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block.
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