Redpoint Investment Management Pty Ltd trimmed its position in shares of Prudential Financial Inc (NYSE:PRU) by 21.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,850 shares of the financial services provider’s stock after selling 7,383 shares during the period. Redpoint Investment Management Pty Ltd’s holdings in Prudential Financial were worth $2,271,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PRU. Capital Investment Advisory Services LLC acquired a new position in Prudential Financial during the 4th quarter worth $164,000. Alps Advisors Inc. grew its holdings in Prudential Financial by 2,198.0% during the 4th quarter. Alps Advisors Inc. now owns 475,874 shares of the financial services provider’s stock worth $38,808,000 after acquiring an additional 455,166 shares in the last quarter. Financial Gravity Companies Inc. acquired a new position in Prudential Financial during the 4th quarter worth $255,000. Hartford Investment Management Co. grew its holdings in Prudential Financial by 3.0% during the 4th quarter. Hartford Investment Management Co. now owns 62,187 shares of the financial services provider’s stock worth $5,071,000 after acquiring an additional 1,805 shares in the last quarter. Finally, IndexIQ Advisors LLC grew its holdings in Prudential Financial by 57.3% during the 4th quarter. IndexIQ Advisors LLC now owns 67,759 shares of the financial services provider’s stock worth $5,526,000 after acquiring an additional 24,685 shares in the last quarter. 66.23% of the stock is owned by institutional investors and hedge funds.
Several research analysts have weighed in on the stock. Keefe, Bruyette & Woods reissued a “buy” rating and set a $113.00 price objective on shares of Prudential Financial in a report on Wednesday, January 9th. Zacks Investment Research lowered shares of Prudential Financial from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. Wells Fargo & Co assumed coverage on shares of Prudential Financial in a report on Tuesday, January 8th. They set an “outperform” rating and a $105.00 price objective for the company. Morgan Stanley decreased their price objective on shares of Prudential Financial from $122.00 to $120.00 and set an “equal weight” rating for the company in a report on Thursday, November 8th. Finally, Evercore ISI raised shares of Prudential Financial from an “in-line” rating to an “outperform” rating and set a $85.50 price objective for the company in a report on Wednesday, January 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $114.19.
Shares of NYSE:PRU opened at $91.50 on Tuesday. The stock has a market capitalization of $37.85 billion, a P/E ratio of 7.83, a PEG ratio of 0.79 and a beta of 1.41. Prudential Financial Inc has a fifty-two week low of $75.61 and a fifty-two week high of $113.03. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.11 and a current ratio of 0.11.
Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, February 6th. The financial services provider reported $2.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.88 by ($0.44). The company had revenue of $17.78 billion for the quarter, compared to analyst estimates of $14.03 billion. Prudential Financial had a net margin of 7.01% and a return on equity of 10.20%. During the same period in the previous year, the business posted $2.69 EPS. On average, research analysts expect that Prudential Financial Inc will post 12.83 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 14th. Shareholders of record on Wednesday, February 20th will be paid a dividend of $1.00 per share. This is a boost from Prudential Financial’s previous quarterly dividend of $0.90. The ex-dividend date is Tuesday, February 19th. This represents a $4.00 annualized dividend and a yield of 4.37%. Prudential Financial’s dividend payout ratio (DPR) is presently 30.80%.
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Prudential Financial Company 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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