Stevens Capital Management LP lowered its position in Prudential Financial (NYSE:PRU) by 81.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 27,378 shares of the financial services provider’s stock after selling 121,678 shares during the quarter. Stevens Capital Management LP’s holdings in Prudential Financial were worth $2,835,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Atria Investments LLC boosted its stake in Prudential Financial by 33.8% in the 4th quarter. Atria Investments LLC now owns 23,432 shares of the financial services provider’s stock worth $2,694,000 after purchasing an additional 5,915 shares during the period. Private Trust Co. NA bought a new position in Prudential Financial in the 4th quarter worth about $203,000. National Pension Service boosted its stake in Prudential Financial by 2.3% in the 4th quarter. National Pension Service now owns 391,289 shares of the financial services provider’s stock worth $44,990,000 after purchasing an additional 8,717 shares during the period. Creative Planning boosted its stake in Prudential Financial by 3.2% in the 4th quarter. Creative Planning now owns 24,588 shares of the financial services provider’s stock worth $2,827,000 after purchasing an additional 754 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in Prudential Financial by 5.5% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,561,532 shares of the financial services provider’s stock worth $179,545,000 after purchasing an additional 81,628 shares during the period. 67.82% of the stock is owned by institutional investors.
PRU has been the subject of several analyst reports. Morgan Stanley cut their target price on Prudential Financial from $131.00 to $128.00 and set an “equal weight” rating for the company in a research note on Thursday, April 5th. ValuEngine downgraded Prudential Financial from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Credit Suisse Group initiated coverage on Prudential Financial in a research note on Wednesday, April 25th. They issued a “neutral” rating and a $102.00 target price for the company. Zacks Investment Research upgraded Prudential Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, April 11th. Finally, Bank of America initiated coverage on Prudential Financial in a research note on Monday, March 26th. They issued a “buy” rating and a $117.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $116.50.
Shares of PRU opened at $102.61 on Friday. The stock has a market cap of $42.49 billion, a PE ratio of 9.70, a price-to-earnings-growth ratio of 0.98 and a beta of 1.52. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.35. Prudential Financial has a 12-month low of $100.10 and a 12-month high of $101.08.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, May 2nd. The financial services provider reported $3.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.98 by $0.10. The firm had revenue of $12.88 billion during the quarter, compared to the consensus estimate of $13.68 billion. Prudential Financial had a return on equity of 9.25% and a net margin of 13.57%. During the same quarter last year, the company posted $2.79 EPS. equities analysts forecast that Prudential Financial will post 12.15 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Stockholders of record on Tuesday, May 22nd will be given a dividend of $0.90 per share. The ex-dividend date is Monday, May 21st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.51%. Prudential Financial’s dividend payout ratio (DPR) is presently 34.03%.
Prudential Financial 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.
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