A number of other hedge funds also recently made changes to their positions in the company. Oakworth Capital Inc. raised its stake in shares of Prudential Financial by 21.8% in the third quarter. Oakworth Capital Inc. now owns 1,297 shares of the company’s stock valued at $106,000 after buying an additional 232 shares in the last quarter. Norway Savings Bank bought a new stake in shares of Prudential Financial during the fourth quarter valued at approximately $120,000. Global X Management Co. LLC raised its stake in shares of Prudential Financial by 272.3% in the third quarter. Global X Management Co. LLC now owns 1,489 shares of the company’s stock valued at $122,000 after buying an additional 1,089 shares in the last quarter. Tradewinds Capital Management LLC raised its stake in shares of Prudential Financial by 2.8% in the third quarter. Tradewinds Capital Management LLC now owns 1,601 shares of the company’s stock valued at $131,000 after buying an additional 43 shares in the last quarter. Finally, ClariVest Asset Management LLC raised its stake in shares of Prudential Financial by 540.0% in the second quarter. ClariVest Asset Management LLC now owns 2,176 shares of the company’s stock valued at $156,000 after buying an additional 1,836 shares in the last quarter. 60.91% of the stock is currently owned by institutional investors and hedge funds.
Trent Capital Management Inc. NC acquired a new stake in Prudential Financial, Inc. (NYSE:PRU) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 49,585 shares of the company’s stock, valued at approximately $5,160,000. Prudential Financial accounts for 5.8% of Trent Capital Management Inc. NC’s holdings, making the stock its 3rd largest position.
Shares of Prudential Financial, Inc. (NYSE:PRU) traded up 0.98% during midday trading on Monday, hitting $109.82. 1,015,285 shares of the stock were exchanged. Prudential Financial, Inc. has a 1-year low of $58.54 and a 1-year high of $109.93. The firm has a 50-day moving average of $105.64 and a 200-day moving average of $91.18. The company has a market capitalization of $47.30 billion, a P/E ratio of 10.85 and a beta of 1.69.
Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, February 8th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.14. Prudential Financial had a return on equity of 7.96% and a net margin of 7.63%. During the same period in the prior year, the company posted $1.94 EPS. On average, equities analysts expect that Prudential Financial, Inc. will post $10.41 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 16th. Shareholders of record on Wednesday, February 22nd will be paid a $0.75 dividend. This is an increase from Prudential Financial’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Friday, February 17th. Prudential Financial’s dividend payout ratio (DPR) is 28.90%.
Several analysts have commented on PRU shares. Bank of America Corporation raised shares of Prudential Financial from an “underperform” rating to a “buy” rating in a research report on Friday, November 18th. Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $114.00 price target on the stock in a research report on Monday, December 5th. Barclays PLC reissued a “buy” rating and issued a $117.00 price target on shares of Prudential Financial in a research report on Monday, January 9th. Finally, Morgan Stanley lowered shares of Prudential Financial from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $109.00 to $110.00 in a research report on Wednesday, December 14th. They noted that the move was a valuation call. Ten equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $99.07.
About Prudential Financial
Prudential Financial, Inc is a financial services company. The Company, through its subsidiaries and affiliates, provides a range of financial products and services, including life insurance, annuities and investment management. The Company’s divisions include U.S. Retirement Solutions and Investment Management Division; U.S.
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