Cedar Brook Financial Partners LLC Purchases 237 Shares of Prudential Financial Inc (PRU)
Cedar Brook Financial Partners LLC boosted its position in Prudential Financial Inc (NYSE:PRU) by 9.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,787 shares of the financial services provider’s stock after purchasing an additional 237 shares during the quarter. Cedar Brook Financial Partners LLC’s holdings in Prudential Financial were worth $256,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in PRU. Joseph P. Lucia & Associates LLC bought a new position in Prudential Financial in the first quarter worth about $25,000. Old North State Trust LLC grew its stake in shares of Prudential Financial by 46.5% during the fourth quarter. Old North State Trust LLC now owns 438 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 139 shares during the last quarter. Semmax Financial Advisors Inc. purchased a new stake in shares of Prudential Financial during the fourth quarter worth about $35,000. Baldwin Brothers Inc. MA grew its stake in shares of Prudential Financial by 146.7% during the fourth quarter. Baldwin Brothers Inc. MA now owns 454 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 270 shares during the last quarter. Finally, Somerset Trust Co grew its stake in shares of Prudential Financial by 276.4% during the first quarter. Somerset Trust Co now owns 414 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 304 shares during the last quarter. Institutional investors and hedge funds own 62.97% of the company’s stock.
PRU has been the topic of a number of research analyst reports. Zacks Investment Research lowered Prudential Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, January 23rd. UBS Group boosted their price target on Prudential Financial from $108.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Deutsche Bank boosted their price target on Prudential Financial from $97.00 to $104.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. Finally, ValuEngine upgraded Prudential Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Prudential Financial has an average rating of “Buy” and a consensus price target of $111.71.
Shares of PRU stock opened at $99.65 on Thursday. Prudential Financial Inc has a fifty-two week low of $75.61 and a fifty-two week high of $106.64. The stock has a market cap of $40.78 billion, a PE ratio of 8.52, a price-to-earnings-growth ratio of 0.87 and a beta of 1.48. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.11 and a current ratio of 0.11.
Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, May 1st. The financial services provider reported $3.00 EPS for the quarter, missing the Zacks’ consensus estimate of $3.14 by ($0.14). The firm had revenue of $13.65 billion during the quarter, compared to analysts’ expectations of $13.74 billion. Prudential Financial had a net margin of 6.18% and a return on equity of 9.87%. During the same quarter in the prior year, the company earned $3.08 EPS. Sell-side analysts predict that Prudential Financial Inc will post 12.81 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, May 28th will be given a $1.00 dividend. The ex-dividend date of this dividend is Friday, May 24th. This represents a $4.00 dividend on an annualized basis and a yield of 4.01%. Prudential Financial’s dividend payout ratio is currently 34.22%.
Prudential Financial 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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