Marietta Investment Partners LLC raised its position in Prudential Financial, Inc. (NYSE:PRU) by 15.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,168 shares of the financial services provider’s stock after buying an additional 2,026 shares during the period. Marietta Investment Partners LLC’s holdings in Prudential Financial were worth $1,618,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Cpcm LLC acquired a new position in Prudential Financial during the fourth quarter worth about $215,000. Cantab Capital Partners LLP increased its position in shares of Prudential Financial by 393.1% in the fourth quarter. Cantab Capital Partners LLP now owns 1,790 shares of the financial services provider’s stock valued at $186,000 after buying an additional 1,427 shares in the last quarter. Parallel Advisors LLC purchased a new position in shares of Prudential Financial during the fourth quarter valued at $275,000. Menta Capital LLC increased its position in shares of Prudential Financial by 41.5% in the fourth quarter. Menta Capital LLC now owns 9,740 shares of the financial services provider’s stock valued at $1,014,000 after buying an additional 2,859 shares in the last quarter. Finally, Capstone Investment Advisors LLC purchased a new position in shares of Prudential Financial during the fourth quarter valued at $280,000. 62.99% of the stock is currently owned by institutional investors.
Prudential Financial, Inc. (NYSE PRU) opened at 104.60 on Wednesday. The stock has a market cap of $44.87 billion, a P/E ratio of 10.61 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 of $106.54 and a 200 day moving average of $106.89.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, May 3rd. The financial services provider reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.15. The business had revenue of $13.24 billion for the quarter, compared to analysts’ expectations of $12.75 billion. Prudential Financial had a net margin of 7.78% and a return on equity of 8.52%. During the same quarter last year, the company earned $2.18 EPS. On average, equities research analysts anticipate that Prudential Financial, Inc. will post $10.64 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Tuesday, May 23rd were paid a dividend of $0.75 per share. The ex-dividend date was Friday, May 19th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.87%. Prudential Financial’s payout ratio is 30.46%.
Several equities analysts have weighed in on the stock. Royal Bank Of Canada reaffirmed a “hold” rating and set a $113.00 price target on shares of Prudential Financial in a report on Tuesday. BidaskClub downgraded shares of Prudential Financial from a “hold” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Prudential Financial in a report on Tuesday, June 6th. Finally, ValuEngine raised shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Prudential Financial has a consensus rating of “Hold” and a consensus price target of $109.14.
In other news, insider Charles F. Lowrey sold 222,857 shares of the stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $108.04, for a total transaction of $24,077,470.28. Following the transaction, the insider now owns 151,418 shares in the company, valued at approximately $16,359,200.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.66% of the stock is owned by company insiders.
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.
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