Wheatland Advisors Inc. trimmed its stake in shares of Prudential Financial Inc (NYSE:PRU) by 3.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,705 shares of the financial services provider’s stock after selling 300 shares during the period. Wheatland Advisors Inc.’s holdings in Prudential Financial were worth $879,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Coastal Capital Group Inc. acquired a new stake in Prudential Financial in the 2nd quarter valued at $25,000. Bartlett & Co. LLC increased its stake in Prudential Financial by 163.0% in the 2nd quarter. Bartlett & Co. LLC now owns 263 shares of the financial services provider’s stock valued at $27,000 after buying an additional 163 shares during the last quarter. Ibex Wealth Advisors acquired a new stake in Prudential Financial in the 2nd quarter valued at $26,000. Advisory Alpha LLC acquired a new stake in Prudential Financial in the 1st quarter valued at $32,000. Finally, Berman Capital Advisors LLC increased its stake in Prudential Financial by 68.0% in the 1st quarter. Berman Capital Advisors LLC now owns 346 shares of the financial services provider’s stock valued at $31,000 after buying an additional 140 shares during the last quarter. Institutional investors and hedge funds own 63.72% of the company’s stock.
Several equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating and set a $90.00 price target on the stock in a research note on Monday, August 12th. UBS Group lowered shares of Prudential Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $116.00 to $112.00 in a research note on Monday, May 13th. Barclays set a $108.00 price target on shares of Prudential Financial and gave the company a “buy” rating in a research note on Monday, August 12th. Atlantic Securities lowered shares of Prudential Financial from an “overweight” rating to a “neutral” rating in a research note on Thursday, August 8th. Finally, B. Riley lowered shares of Prudential Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $122.00 to $100.00 in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Prudential Financial has a consensus rating of “Hold” and an average price target of $104.15.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $3.14 EPS for the quarter, missing analysts’ consensus estimates of $3.22 by ($0.08). Prudential Financial had a net margin of 6.92% and a return on equity of 9.24%. The firm had revenue of $14.11 billion during the quarter, compared to the consensus estimate of $13.63 billion. During the same period last year, the business earned $3.01 EPS. As a group, research analysts forecast that Prudential Financial Inc will post 12.48 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date is Monday, August 19th. Prudential Financial’s dividend payout ratio (DPR) is presently 34.22%.
Prudential Financial Company Profile
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.
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