Tredje AP fonden boosted its position in Prudential Financial Inc (NYSE:PRU) by 11.8% in the first quarter, HoldingsChannel reports. The firm owned 29,318 shares of the financial services provider’s stock after buying an additional 3,089 shares during the quarter. Tredje AP fonden’s holdings in Prudential Financial were worth $1,529,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Atlas Private Wealth Management purchased a new position in Prudential Financial in the fourth quarter valued at about $26,000. Global Financial Private Capital Inc boosted its stake in Prudential Financial by 4,312.5% in the fourth quarter. Global Financial Private Capital Inc now owns 353 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 345 shares during the last quarter. FSA Wealth Management LLC purchased a new position in Prudential Financial in the fourth quarter valued at about $35,000. Filbrandt Wealth Management LLC purchased a new position in Prudential Financial in the fourth quarter valued at about $43,000. Finally, HHM Wealth Advisors LLC purchased a new position in Prudential Financial in the first quarter valued at about $31,000. 60.59% of the stock is owned by institutional investors and hedge funds.

A number of research firms have weighed in on PRU. Royal Bank of Canada cut shares of Prudential Financial from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $110.00 to $68.00 in a research note on Friday, March 20th. Credit Suisse Group restated a “hold” rating and set a $64.00 price target on shares of Prudential Financial in a research note on Wednesday, May 6th. Piper Sandler cut shares of Prudential Financial from an “overweight” rating to a “neutral” rating in a research note on Wednesday, May 6th. Wells Fargo & Co dropped their price target on shares of Prudential Financial from $67.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 7th. Finally, B. Riley dropped their price target on shares of Prudential Financial from $70.00 to $57.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 21st. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $79.71.

NYSE PRU traded down $2.59 on Friday, hitting $57.86. The stock had a trading volume of 707,244 shares, compared to its average volume of 4,174,162. Prudential Financial Inc has a 52-week low of $38.62 and a 52-week high of $103.56. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.14 and a current ratio of 0.14. The company has a market capitalization of $23.32 billion, a price-to-earnings ratio of 8.19, a price-to-earnings-growth ratio of 0.72 and a beta of 1.68. The firm has a 50-day moving average of $60.75 and a 200-day moving average of $73.02.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, May 5th. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.84 by ($0.52). Prudential Financial had a return on equity of 7.13% and a net margin of 5.16%. The firm had revenue of $13.33 billion during the quarter, compared to analysts’ expectations of $14.81 billion. During the same quarter in the prior year, the company earned $3.00 earnings per share. As a group, research analysts anticipate that Prudential Financial Inc will post 9.19 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Tuesday, May 26th were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 7.60%. The ex-dividend date was Friday, May 22nd. Prudential Financial’s dividend payout ratio is presently 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 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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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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