Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp trimmed its stake in shares of Prudential Financial Inc (NYSE:PRU) by 23.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 160,600 shares of the financial services provider’s stock after selling 50,500 shares during the quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in Prudential Financial were worth $15,018,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of PRU. Flagship Harbor Advisors LLC acquired a new stake in Prudential Financial during the second quarter worth approximately $104,000. Sun Life Financial INC grew its stake in Prudential Financial by 470.9% during the second quarter. Sun Life Financial INC now owns 1,136 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 937 shares during the period. McKinley Carter Wealth Services Inc. acquired a new stake in Prudential Financial during the first quarter worth approximately $122,000. Vigilant Capital Management LLC acquired a new stake in Prudential Financial during the second quarter worth approximately $125,000. Finally, Stelac Advisory Services LLC acquired a new stake in Prudential Financial during the first quarter worth approximately $145,000. Institutional investors own 63.58% of the company’s stock.
Shares of Prudential Financial stock opened at $97.08 on Friday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.34. Prudential Financial Inc has a 52 week low of $92.05 and a 52 week high of $127.14. The company has a market capitalization of $40.72 billion, a price-to-earnings ratio of 9.18, a PEG ratio of 0.90 and a beta of 1.49.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, August 1st. The financial services provider reported $3.01 EPS for the quarter, missing the Zacks’ consensus estimate of $3.08 by ($0.07). Prudential Financial had a net margin of 13.16% and a return on equity of 9.98%. The firm had revenue of $13.04 billion during the quarter, compared to analyst estimates of $14.19 billion. During the same period last year, the business posted $2.09 EPS. research analysts predict that Prudential Financial Inc will post 12.12 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 13th. Shareholders of record on Tuesday, August 21st were paid a $0.90 dividend. The ex-dividend date of this dividend was Monday, August 20th. This represents a $3.60 dividend on an annualized basis and a yield of 3.71%. Prudential Financial’s dividend payout ratio (DPR) is presently 34.03%.
PRU has been the subject of several recent analyst reports. Goldman Sachs Group raised Prudential Financial from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $117.00 to $114.00 in a research note on Monday, June 4th. Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $111.00 target price for the company in a research note on Monday, June 4th. ValuEngine cut Prudential Financial from a “sell” rating to a “strong sell” rating in a research note on Friday, June 29th. Barclays decreased their target price on Prudential Financial from $135.00 to $130.00 and set an “overweight” rating for the company in a research note on Monday, July 9th. Finally, B. Riley decreased their target price on Prudential Financial from $129.00 to $116.00 and set a “buy” rating for the company in a research note on Monday, July 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $116.43.
About Prudential Financial
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.
Receive News & Ratings for Prudential Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial and related companies with MarketBeat.com's FREE daily email newsletter.