Erste Asset Management GmbH Raises Holdings in Prudential Financial, Inc. $PRU

Erste Asset Management GmbH lifted its stake in Prudential Financial, Inc. (NYSE:PRU) by 487.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 69,100 shares of the financial services provider’s stock after buying an additional 57,346 shares during the quarter. Erste Asset Management GmbH’s holdings in Prudential Financial were worth $7,831,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Salomon & Ludwin LLC raised its holdings in Prudential Financial by 98.3% in the 4th quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 114 shares during the period. Lodestone Wealth Management LLC acquired a new position in Prudential Financial in the 4th quarter worth about $28,000. Coston McIsaac & Partners raised its holdings in Prudential Financial by 93.4% in the 4th quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 128 shares during the period. Basepoint Wealth LLC acquired a new position in Prudential Financial in the 4th quarter worth about $30,000. Finally, Wealth Watch Advisors INC acquired a new position in Prudential Financial in the 3rd quarter worth about $30,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Price Performance

NYSE:PRU opened at $103.81 on Tuesday. Prudential Financial, Inc. has a one year low of $91.89 and a one year high of $119.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a market cap of $36.02 billion, a PE ratio of 10.68, a P/E/G ratio of 1.90 and a beta of 0.86. The stock has a 50 day moving average price of $99.72 and a 200 day moving average price of $104.31.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, beating the consensus estimate of $3.09 by $0.52. The firm had revenue of $15.23 billion during the quarter, compared to analysts’ expectations 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 last year, the firm earned $3.29 earnings per share. Equities research analysts expect that Prudential Financial, Inc. will post 13.84 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Tuesday, May 26th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 5.4%. The ex-dividend date is Tuesday, May 26th. Prudential Financial’s payout ratio is presently 57.61%.

Analyst Upgrades and Downgrades

PRU has been the topic of several research analyst reports. Keefe, Bruyette & Woods lifted their target price 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. Wells Fargo & Company lifted their target price on shares of Prudential Financial from $93.00 to $100.00 and gave the company an “underweight” rating in a research report on Tuesday, May 12th. Zacks Research lowered shares of Prudential Financial from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. Morgan Stanley reissued an “underweight” rating and set a $92.00 target price (down from $106.00) on shares of Prudential Financial in a report on Monday, May 4th. Finally, Evercore reissued a “negative” rating on shares of Prudential Financial in a report on Friday, March 6th. Nine investment analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $101.50.

Prudential Financial 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.