Brinker Capital Inc. lifted its holdings in shares of Prudential Financial Inc (NYSE:PRU) by 8.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,922 shares of the financial services provider’s stock after buying an additional 588 shares during the period. Brinker Capital Inc.’s holdings in Prudential Financial were worth $820,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Truewealth LLC purchased a new position in shares of Prudential Financial during the 4th quarter worth approximately $105,000. Pinnacle Wealth Planning Services Inc. purchased a new position in Prudential Financial in the 4th quarter valued at approximately $105,000. We Are One Seven LLC purchased a new position in Prudential Financial in the 4th quarter valued at approximately $111,000. Virtue Capital Management LLC purchased a new position in Prudential Financial in the 4th quarter valued at approximately $123,000. Finally, Community Bank N.A. increased its stake in Prudential Financial by 269.7% in the 4th quarter. Community Bank N.A. now owns 1,353 shares of the financial services provider’s stock valued at $156,000 after purchasing an additional 987 shares in the last quarter. 64.48% of the stock is owned by institutional investors and hedge funds.
Prudential Financial stock opened at $96.84 on Friday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.35. The firm has a market cap of $39.89 billion, a price-to-earnings ratio of 9.15, a P/E/G ratio of 0.92 and a beta of 1.52. Prudential Financial Inc has a fifty-two week low of $94.51 and a fifty-two week high of $127.14.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Shareholders of record on Tuesday, May 22nd will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend is Monday, May 21st. Prudential Financial’s payout ratio is 34.03%.
Several equities analysts recently weighed in on the company. Credit Suisse Group assumed coverage on Prudential Financial in a research note on Wednesday, April 25th. They issued a “neutral” rating and a $102.00 price objective for the company. Zacks Investment Research raised Prudential Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, April 11th. Deutsche Bank dropped their price objective on Prudential Financial from $132.00 to $125.00 and set a “hold” rating for the company in a research note on Friday, February 9th. ValuEngine downgraded Prudential Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Finally, Wells Fargo & Co reaffirmed a “hold” rating and issued a $111.00 price objective on shares of Prudential Financial in a research note on Thursday, May 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. Prudential Financial currently has a consensus rating of “Hold” and a consensus target price of $116.50.
Prudential Financial Company Profile
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through U.S. Individual Solutions, U.S. Workplace Solutions, Investment Management, and International Insurance divisions.
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