Premier Fund Managers Ltd boosted its position in Prudential Financial Inc (NYSE:PRU) by 7.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,024 shares of the financial services provider’s stock after purchasing an additional 2,778 shares during the period. Prudential Financial comprises 2.2% of Premier Fund Managers Ltd’s portfolio, making the stock its 21st biggest holding. Premier Fund Managers Ltd’s holdings in Prudential Financial were worth $3,746,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Martingale Asset Management L P raised its stake in shares of Prudential Financial by 5.0% in the second quarter. Martingale Asset Management L P now owns 10,981 shares of the financial services provider’s stock worth $1,027,000 after buying an additional 520 shares during the period. Whittier Trust Co. raised its stake in shares of Prudential Financial by 0.6% in the second quarter. Whittier Trust Co. now owns 92,888 shares of the financial services provider’s stock worth $8,686,000 after buying an additional 540 shares during the period. Covenant Asset Management LLC raised its stake in shares of Prudential Financial by 9.6% in the first quarter. Covenant Asset Management LLC now owns 6,226 shares of the financial services provider’s stock worth $645,000 after buying an additional 545 shares during the period. World Asset Management Inc raised its stake in shares of Prudential Financial by 2.2% in the second quarter. World Asset Management Inc now owns 26,268 shares of the financial services provider’s stock worth $2,456,000 after buying an additional 559 shares during the period. Finally, Buckingham Capital Management Inc. raised its stake in Prudential Financial by 3.3% during the 2nd quarter. Buckingham Capital Management Inc. now owns 18,085 shares of the financial services provider’s stock valued at $1,691,000 after purchasing an additional 570 shares during the period. 63.67% of the stock is currently owned by institutional investors and hedge funds.
Shares of PRU opened at $99.53 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.12 and a current ratio of 0.12. Prudential Financial Inc has a 12-month low of $92.05 and a 12-month high of $127.14. The company has a market cap of $41.09 billion, a P/E ratio of 9.47, a price-to-earnings-growth ratio of 0.90 and a beta of 1.51.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 13th. Shareholders of record on Tuesday, August 21st will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date is Monday, August 20th. Prudential Financial’s payout ratio is 34.03%.
Several brokerages recently issued reports on PRU. B. Riley lifted their target price on Prudential Financial from $116.00 to $124.00 and gave the company a “buy” rating in a research note on Tuesday, August 7th. Wells Fargo & Co reissued a “hold” rating and set a $111.00 target price on shares of Prudential Financial in a research note on Thursday, May 3rd. ValuEngine downgraded Prudential Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Deutsche Bank decreased their target price on Prudential Financial from $125.00 to $113.00 and set a “hold” rating on the stock in a research note on Friday, May 4th. Finally, Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $111.00 target price on the stock in a research note on Monday, August 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $116.43.
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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