AXQ Capital LP Has $888,000 Position in Prudential Financial, Inc. $PRU

AXQ Capital LP lessened its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 47.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,863 shares of the financial services provider’s stock after selling 7,115 shares during the period. AXQ Capital LP’s holdings in Prudential Financial were worth $888,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Crestmont Private Wealth LLC raised its holdings in shares of Prudential Financial by 7.0% in the fourth quarter. Crestmont Private Wealth LLC now owns 2,832 shares of the financial services provider’s stock valued at $320,000 after purchasing an additional 186 shares during the last quarter. Vantus Wealth LLC purchased a new stake in shares of Prudential Financial in the fourth quarter valued at about $335,000. BNP Paribas raised its holdings in shares of Prudential Financial by 15,878.4% in the fourth quarter. BNP Paribas now owns 26,684 shares of the financial services provider’s stock valued at $3,013,000 after purchasing an additional 26,517 shares during the last quarter. New Mexico Educational Retirement Board raised its holdings in shares of Prudential Financial by 1.9% in the fourth quarter. New Mexico Educational Retirement Board now owns 16,331 shares of the financial services provider’s stock valued at $1,843,000 after purchasing an additional 300 shares during the last quarter. Finally, Rothschild Wealth LLC raised its holdings in shares of Prudential Financial by 8.2% in the fourth quarter. Rothschild Wealth LLC now owns 5,117 shares of the financial services provider’s stock valued at $578,000 after purchasing an additional 388 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PRU. Mizuho increased their target price on shares of Prudential Financial from $96.00 to $101.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Zacks Research lowered shares of Prudential Financial from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. Evercore restated a “negative” rating on shares of Prudential Financial in a research report on Friday, March 6th. Piper Sandler increased their price target on shares of Prudential Financial from $99.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Prudential Financial from $100.00 to $106.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. Nine analysts have rated the stock with a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat, Prudential Financial has a consensus rating of “Reduce” and a consensus price target of $101.50.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $102.69 on Wednesday. Prudential Financial, Inc. has a twelve month low of $91.89 and a twelve month high of $119.76. The firm has a market capitalization of $35.63 billion, a PE ratio of 10.56, a P/E/G ratio of 1.84 and a beta of 0.86. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average price of $98.86 and a two-hundred day moving average price of $104.41.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.52. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. The firm had revenue of $15.23 billion for the quarter, compared to the consensus estimate of $14.10 billion. During the same period in the prior year, the firm posted $3.29 earnings per share. Equities analysts forecast that Prudential Financial, Inc. will post 13.75 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, May 26th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Tuesday, May 26th. Prudential Financial’s dividend payout ratio is presently 57.61%.

Prudential Financial Company Profile

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.