MBM Wealth Consultants LLC raised its stake in Prudential Financial Inc (NYSE:PRU) by 3.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,238 shares of the financial services provider’s stock after purchasing an additional 163 shares during the quarter. MBM Wealth Consultants LLC’s holdings in Prudential Financial were worth $529,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in PRU. BancorpSouth Bank increased its position in shares of Prudential Financial by 8.6% during the second quarter. BancorpSouth Bank now owns 65,880 shares of the financial services provider’s stock worth $6,654,000 after acquiring an additional 5,233 shares during the last quarter. Hudock Capital Group LLC increased its position in shares of Prudential Financial by 9.0% during the second quarter. Hudock Capital Group LLC now owns 1,320 shares of the financial services provider’s stock worth $133,000 after acquiring an additional 109 shares during the last quarter. Fisher Asset Management LLC purchased a new stake in shares of Prudential Financial during the second quarter worth about $206,000. Goelzer Investment Management Inc. increased its position in shares of Prudential Financial by 0.9% during the second quarter. Goelzer Investment Management Inc. now owns 96,523 shares of the financial services provider’s stock worth $9,749,000 after acquiring an additional 874 shares during the last quarter. Finally, BLB&B Advisors LLC purchased a new stake in shares of Prudential Financial during the second quarter worth about $200,000. 63.04% of the stock is currently owned by institutional investors.
A number of analysts have recently issued reports on the company. Atlantic Securities lowered Prudential Financial from an “overweight” rating to a “neutral” rating in a research report on Thursday. Citigroup lowered Prudential Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $112.00 to $94.00 in a research report on Monday, August 5th. B. Riley lowered Prudential Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $122.00 to $100.00 in a research report on Thursday, August 1st. Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $113.00 target price on the stock in a research report on Wednesday, May 8th. Finally, Deutsche Bank lifted their target price on Prudential Financial from $97.00 to $104.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Prudential Financial presently has a consensus rating of “Hold” and an average price target of $105.45.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $3.14 EPS for the quarter, missing the Zacks’ consensus estimate of $3.22 by ($0.08). The firm had revenue of $14.11 billion during the quarter, compared to analyst estimates of $13.63 billion. Prudential Financial had a return on equity of 9.24% and a net margin of 6.92%. During the same quarter last year, the business posted $3.01 earnings per share. As a group, analysts expect that Prudential Financial Inc will post 12.49 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 20th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $4.00 dividend on an annualized basis and a yield of 4.72%. Prudential Financial’s dividend payout ratio (DPR) is 34.22%.
Prudential Financial Profile
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.
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