Trilogy Capital Inc. raised its holdings in Prudential Financial, Inc. (NYSE:PRU – Get Rating) by 18.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 14,097 shares of the financial services provider's stock after acquiring an additional 2,208 shares during the period. Trilogy Capital Inc.'s holdings in Prudential Financial were worth $1,349,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Prudential Financial in the 4th quarter valued at about $283,466,000. First Trust Advisors LP lifted its stake in shares of Prudential Financial by 318.2% in the 1st quarter. First Trust Advisors LP now owns 2,375,383 shares of the financial services provider's stock valued at $280,699,000 after purchasing an additional 1,807,375 shares in the last quarter. Cowa LLC lifted its stake in shares of Prudential Financial by 9,930.2% in the 1st quarter. Cowa LLC now owns 771,824 shares of the financial services provider's stock valued at $912,000 after purchasing an additional 764,129 shares in the last quarter. Mariner LLC lifted its stake in shares of Prudential Financial by 2,197.4% in the 1st quarter. Mariner LLC now owns 690,184 shares of the financial services provider's stock valued at $81,560,000 after purchasing an additional 660,142 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Prudential Financial by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 31,119,980 shares of the financial services provider's stock valued at $3,677,448,000 after purchasing an additional 577,475 shares in the last quarter. Hedge funds and other institutional investors own 57.74% of the company's stock.
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Prudential Financial Stock Down 2.3 %
PRU stock traded down $2.05 during midday trading on Thursday, hitting $86.27. 65,351 shares of the company's stock were exchanged, compared to its average volume of 1,844,813. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a 12-month low of $86.18 and a 12-month high of $124.22. The firm has a 50 day moving average price of $97.02 and a 200-day moving average price of $102.84. The stock has a market capitalization of $32.09 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 0.97 and a beta of 1.40.
Prudential Financial (NYSE:PRU – Get Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The financial services provider reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.62 by ($0.88). Prudential Financial had a return on equity of 9.25% and a net
margin of 3.52%. The business had revenue of $13.77 billion for the quarter, compared to analysts' expectations of $12.56 billion. On average, analysts anticipate that Prudential Financial, Inc. will post 10.03 EPS for the current year.
Prudential Financial Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Tuesday, August 23rd were issued a $1.20 dividend. The ex-dividend date was Monday, August 22nd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 5.56%. Prudential Financial's dividend payout ratio (DPR) is 88.89%.
Analysts Set New Price Targets
PRU has been the topic of several research analyst reports. Jefferies Financial Group lifted their price objective on Prudential Financial from $78.00 to $79.00 and gave the company an "underperform" rating in a research note on Thursday, September 8th. Credit Suisse Group reduced their price objective on Prudential Financial to $102.00 in a research note on Thursday. Piper Sandler reduced their price target on Prudential Financial from $110.00 to $100.00 and set a "neutral" rating on the stock in a research report on Friday, July 8th. Wells Fargo & Company boosted their price target on Prudential Financial from $95.00 to $101.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 4th. Finally, Evercore ISI reduced their price target on Prudential Financial to $90.00 in a research report on Tuesday, August 9th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Prudential Financial currently has an average rating of "Hold" and an average target price of $104.15.
Prudential Financial Company Profile
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Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block.
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