Prudential Financial, Inc. $PRU Shares Purchased by Calamos Advisors LLC

Calamos Advisors LLC boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 9.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,278 shares of the financial services provider’s stock after acquiring an additional 5,146 shares during the period. Calamos Advisors LLC’s holdings in Prudential Financial were worth $6,084,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Jessup Wealth Management Inc purchased a new position in shares of Prudential Financial during the 4th quarter worth approximately $25,000. Garton & Associates Financial Advisors LLC purchased a new stake in Prudential Financial in the 4th quarter valued at approximately $26,000. Salomon & Ludwin LLC grew its holdings in Prudential Financial by 98.3% during the 4th quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock valued at $27,000 after buying an additional 114 shares during the last quarter. SJS Investment Consulting Inc. increased its position in Prudential Financial by 93.1% during the first quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider’s stock worth $27,000 after buying an additional 134 shares in the last quarter. Finally, Lodestone Wealth Management LLC purchased a new position in Prudential Financial during the fourth quarter worth $28,000. 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 recent research reports. UBS Group reduced their price objective on Prudential Financial from $105.00 to $98.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. Jefferies Financial Group lifted their price objective on Prudential Financial from $105.00 to $110.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Bank of America cut their target price on shares of Prudential Financial from $112.00 to $104.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. BMO Capital Markets decreased their price target on shares of Prudential Financial from $91.00 to $87.00 and set an “underperform” rating on the stock in a research note on Thursday, April 23rd. Finally, Mizuho lifted their price target on shares of Prudential Financial from $101.00 to $109.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Eleven investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Prudential Financial presently has an average rating of “Reduce” and a consensus price target of $104.58.

Prudential Financial Trading Down 1.0%

Shares of Prudential Financial stock opened at $114.97 on Wednesday. Prudential Financial, Inc. has a fifty-two week low of $91.89 and a fifty-two week high of $119.76. The business’s fifty day moving average is $106.24 and its two-hundred day moving average is $104.04. 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 firm has a market cap of $39.89 billion, a PE ratio of 11.83, a P/E/G ratio of 2.11 and a beta of 0.85.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.52. The business had revenue of $15.23 billion during 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 previous year, the business earned $3.29 earnings per share. Analysts anticipate that Prudential Financial, Inc. will post 13.82 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, May 26th were issued a $1.40 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $5.60 annualized dividend and a yield of 4.9%. Prudential Financial’s payout ratio is 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.