Prudential Financial, Inc. $PRU Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its holdings in Prudential Financial, Inc. (NYSE:PRU) by 37.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,681 shares of the financial services provider’s stock after purchasing an additional 9,133 shares during the period. Thrivent Financial for Lutherans’ holdings in Prudential Financial were worth $3,802,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Sunflower Bank N.A. lifted its stake in shares of Prudential Financial by 3.2% in the 4th quarter. Sunflower Bank N.A. now owns 2,911 shares of the financial services provider’s stock valued at $329,000 after purchasing an additional 91 shares during the last quarter. Wetzel Investment Advisors Inc. lifted its stake in shares of Prudential Financial by 0.9% in the 4th quarter. Wetzel Investment Advisors Inc. now owns 10,022 shares of the financial services provider’s stock valued at $1,131,000 after purchasing an additional 94 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of Prudential Financial by 0.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 28,795 shares of the financial services provider’s stock valued at $2,987,000 after purchasing an additional 97 shares during the last quarter. Transcend Capital Advisors LLC lifted its stake in shares of Prudential Financial by 2.4% in the 4th quarter. Transcend Capital Advisors LLC now owns 4,175 shares of the financial services provider’s stock valued at $471,000 after purchasing an additional 98 shares during the last quarter. Finally, Mindset Wealth Management LLC lifted its stake in shares of Prudential Financial by 2.1% in the 3rd quarter. Mindset Wealth Management LLC now owns 4,781 shares of the financial services provider’s stock valued at $496,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $104.12 on Friday. The stock’s 50-day moving average is $97.80 and its two-hundred day moving average is $104.58. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a 1-year low of $91.89 and a 1-year high of $119.76. The company has a market cap of $36.13 billion, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 1.90 and a beta of 0.86.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.52. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.The company had revenue of $15.23 billion for the quarter, compared to the consensus estimate of $14.10 billion. During the same quarter in the prior year, the business earned $3.29 EPS. Analysts forecast that Prudential Financial, Inc. will post 13.8 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Tuesday, May 26th will be issued a dividend of $1.40 per share. The ex-dividend date is Tuesday, May 26th. This represents a $5.60 annualized dividend and a yield of 5.4%. Prudential Financial’s dividend payout ratio is 57.61%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PRU shares. Morgan Stanley reissued an “underweight” rating and set a $92.00 target price (down from $106.00) on shares of Prudential Financial in a research note on Monday, May 4th. BMO Capital Markets decreased their target price on Prudential Financial from $91.00 to $87.00 and set an “underperform” rating on the stock in a research note on Thursday, April 23rd. Weiss Ratings lowered Prudential Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 13th. Barclays increased their target price on Prudential Financial from $89.00 to $90.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company increased their target price on Prudential Financial from $93.00 to $100.00 and gave the stock an “underweight” rating in a research note on Tuesday, May 12th. Nine research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $101.50.

About Prudential Financial

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.