Douglas Lane & Associates LLC raised its stake in Prudential Financial Inc (NYSE:PRU) by 7.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 805,329 shares of the financial services provider’s stock after buying an additional 52,857 shares during the quarter. Prudential Financial comprises about 1.6% of Douglas Lane & Associates LLC’s portfolio, making the stock its 13th biggest holding. Douglas Lane & Associates LLC owned about 0.19% of Prudential Financial worth $81,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also modified their holdings of PRU. Flagship Harbor Advisors LLC acquired a new stake in shares of Prudential Financial during the second quarter worth about $104,000. Sun Life Financial INC lifted its position in shares of Prudential Financial by 470.9% during the second quarter. Sun Life Financial INC now owns 1,136 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 937 shares in the last quarter. McKinley Carter Wealth Services Inc. acquired a new stake in shares of Prudential Financial during the first quarter worth about $122,000. Vigilant Capital Management LLC acquired a new stake in Prudential Financial in the second quarter valued at approximately $125,000. Finally, Financial Architects Inc raised its holdings in Prudential Financial by 303.9% in the second quarter. Financial Architects Inc now owns 1,640 shares of the financial services provider’s stock valued at $153,000 after acquiring an additional 1,234 shares in the last quarter. 63.59% of the stock is currently owned by institutional investors and hedge funds.
PRU has been the topic of several analyst reports. Goldman Sachs Group raised shares of Prudential Financial from a “buy” rating to a “conviction-buy” rating in a report on Monday, September 10th. B. Riley raised their target price on shares of Prudential Financial from $116.00 to $124.00 and gave the company a “buy” rating in a report on Tuesday, August 7th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $122.00 target price on shares of Prudential Financial in a report on Friday, August 3rd. ValuEngine raised shares of Prudential Financial from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 4th. Finally, Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a report on Tuesday, July 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $117.47.
NYSE:PRU traded down $0.46 during mid-day trading on Tuesday, hitting $105.53. The stock had a trading volume of 20,320 shares, compared to its average volume of 2,018,243. The stock has a market cap of $42.25 billion, a price-to-earnings ratio of 9.91, a price-to-earnings-growth ratio of 0.93 and a beta of 1.48. Prudential Financial Inc has a twelve month low of $92.05 and a twelve month high of $127.14. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.34.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, August 1st. The financial services provider reported $3.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.08 by ($0.07). The company had revenue of $13.04 billion during the quarter, compared to analysts’ expectations of $14.19 billion. Prudential Financial had a net margin of 13.16% and a return on equity of 9.98%. During the same quarter in the prior year, the company earned $2.09 earnings per share. On average, equities analysts anticipate that Prudential Financial Inc will post 12.14 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 13th. Shareholders of record on Tuesday, August 21st were paid a $0.90 dividend. The ex-dividend date of this dividend was Monday, August 20th. This represents a $3.60 annualized dividend and a yield of 3.41%. Prudential Financial’s dividend payout ratio is currently 34.03%.
Prudential Financial 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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