Burney Co. Purchases 11,472 Shares of Prudential Financial, Inc. $PRU

Burney Co. raised its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 83.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 25,166 shares of the financial services provider’s stock after purchasing an additional 11,472 shares during the period. Burney Co.’s holdings in Prudential Financial were worth $2,458,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Unison Advisors LLC increased its holdings in Prudential Financial by 1.1% during the first quarter. Unison Advisors LLC now owns 36,551 shares of the financial services provider’s stock valued at $3,571,000 after buying an additional 414 shares during the period. Abel Hall LLC bought a new stake in Prudential Financial during the 1st quarter valued at $319,000. Ascentis Independent Advisors increased its holdings in shares of Prudential Financial by 88.4% in the 1st quarter. Ascentis Independent Advisors now owns 4,395 shares of the financial services provider’s stock valued at $429,000 after acquiring an additional 2,062 shares during the period. Parrish Capital LLC raised its position in shares of Prudential Financial by 6.7% in the 1st quarter. Parrish Capital LLC now owns 9,247 shares of the financial services provider’s stock worth $903,000 after acquiring an additional 581 shares in the last quarter. Finally, Koshinski Asset Management Inc. lifted its stake in shares of Prudential Financial by 8.2% during the 1st quarter. Koshinski Asset Management Inc. now owns 13,639 shares of the financial services provider’s stock worth $1,332,000 after purchasing an additional 1,038 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

PRU has been the topic of several analyst reports. BMO Capital Markets cut their target price on Prudential Financial from $91.00 to $87.00 and set an “underperform” rating on the stock in a research note on Thursday, April 23rd. Keefe, Bruyette & Woods lifted their price objective on shares of Prudential Financial from $100.00 to $106.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Jefferies Financial Group cut shares of Prudential Financial from a “buy” rating to a “hold” rating and decreased their target price for the company from $124.00 to $98.00 in a research report on Wednesday, April 22nd. Bank of America cut their price target on shares of Prudential Financial from $112.00 to $104.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. Finally, Wells Fargo & Company increased their price objective on Prudential Financial from $93.00 to $100.00 and gave the company an “underweight” rating in a report on Tuesday, May 12th. Eleven equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $102.08.

Prudential Financial Stock Performance

NYSE PRU opened at $115.46 on Wednesday. The firm has a market capitalization of $40.06 billion, a P/E ratio of 11.88, a PEG ratio of 2.08 and a beta of 0.85. The stock has a 50-day simple moving average of $104.50 and a two-hundred day simple moving average of $104.04. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a fifty-two week low of $91.89 and a fifty-two week high of $119.76.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.52. The firm had revenue of $15.23 billion for the quarter, compared to the consensus estimate of $14.10 billion. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.During the same quarter in the prior year, the business earned $3.29 earnings per share. On average, equities analysts forecast that Prudential Financial, Inc. will post 13.81 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, May 26th were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.9%. Prudential Financial’s dividend payout ratio (DPR) is presently 57.61%.

About Prudential Financial

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.