Prudential Financial, Inc. (PRU) Stake Cut by Cadence Capital Management LLC

Cadence Capital Management LLC lowered its stake in Prudential Financial, Inc. (NYSE:PRU) by 0.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 78,021 shares of the financial services provider’s stock after selling 330 shares during the period. Cadence Capital Management LLC’s holdings in Prudential Financial were worth $8,323,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Prudential Financial during the fourth quarter valued at $1,835,418,000. UBS Asset Management Americas Inc. increased its stake in shares of Prudential Financial by 2.3% in the first quarter. UBS Asset Management Americas Inc. now owns 1,760,671 shares of the financial services provider’s stock valued at $187,828,000 after buying an additional 39,435 shares in the last quarter. Swiss National Bank increased its stake in shares of Prudential Financial by 25.2% in the first quarter. Swiss National Bank now owns 1,523,687 shares of the financial services provider’s stock valued at $162,547,000 after buying an additional 306,300 shares in the last quarter. Credit Agricole S A increased its stake in shares of Prudential Financial by 39.3% in the fourth quarter. Credit Agricole S A now owns 1,406,576 shares of the financial services provider’s stock valued at $146,369,000 after buying an additional 396,979 shares in the last quarter. Finally, Boston Partners increased its stake in shares of Prudential Financial by 3.5% in the first quarter. Boston Partners now owns 1,249,243 shares of the financial services provider’s stock valued at $133,269,000 after buying an additional 41,889 shares in the last quarter. 62.99% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

Prudential Financial, Inc. (NYSE:PRU) opened at 107.43 on Wednesday. The stock has a market cap of $46.09 billion, a PE ratio of 10.90 and a beta of 1.49. Prudential Financial, Inc. has a 12 month low of $66.51 and a 12 month high of $114.55. The stock has a 50 day moving average price of $106.54 and a 200-day moving average price of $106.89.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, May 3rd. The financial services provider reported $2.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.64 by $0.15. The business had revenue of $13.24 billion during the quarter, compared to analyst estimates of $12.75 billion. Prudential Financial had a return on equity of 8.52% and a net margin of 7.78%. During the same quarter in the prior year, the firm posted $2.18 earnings per share. On average, analysts expect that Prudential Financial, Inc. will post $10.65 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Tuesday, May 23rd were issued a $0.75 dividend. The ex-dividend date was Friday, May 19th. This represents a $3.00 annualized dividend and a dividend yield of 2.79%. Prudential Financial’s dividend payout ratio (DPR) is 30.46%.

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A number of research firms have commented on PRU. Deutsche Bank AG raised their target price on Prudential Financial from $114.00 to $117.00 and gave the company a “buy” rating in a report on Wednesday, April 19th. J P Morgan Chase & Co raised their target price on Prudential Financial from $108.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, April 3rd. ValuEngine raised Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Zacks Investment Research downgraded Prudential Financial from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Finally, BidaskClub raised Prudential Financial from a “sell” rating to a “hold” rating in a report on Friday, June 16th. Nine research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $108.84.

In other news, insider Charles F. Lowrey sold 222,857 shares of the company’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $108.04, for a total value of $24,077,470.28. Following the completion of the sale, the insider now owns 151,418 shares in the company, valued at $16,359,200.72. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.66% of the company’s stock.

About Prudential Financial

Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “PRU”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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