Manchester Capital Management LLC Acquires 154 Shares of Prudential Financial Inc (PRU)

Manchester Capital Management LLC raised its holdings in shares of Prudential Financial Inc (NYSE:PRU) by 30.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 665 shares of the financial services provider’s stock after acquiring an additional 154 shares during the quarter. Manchester Capital Management LLC’s holdings in Prudential Financial were worth $62,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in PRU. Baldwin Brothers Inc. MA raised its stake in shares of Prudential Financial by 146.7% during the fourth quarter. Baldwin Brothers Inc. MA now owns 454 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 270 shares during the period. TCI Wealth Advisors Inc. raised its stake in shares of Prudential Financial by 39.7% during the fourth quarter. TCI Wealth Advisors Inc. now owns 676 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 192 shares during the period. Bedel Financial Consulting Inc. raised its stake in shares of Prudential Financial by 81.4% during the fourth quarter. Bedel Financial Consulting Inc. now owns 778 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 349 shares during the period. First Mercantile Trust Co. raised its stake in shares of Prudential Financial by 68.1% during the fourth quarter. First Mercantile Trust Co. now owns 790 shares of the financial services provider’s stock valued at $64,000 after purchasing an additional 320 shares during the period. Finally, We Are One Seven LLC purchased a new stake in shares of Prudential Financial during the fourth quarter valued at approximately $74,000. 66.23% of the stock is currently owned by hedge funds and other institutional investors.

PRU stock opened at $90.99 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.11 and a quick ratio of 0.11. Prudential Financial Inc has a 1-year low of $75.61 and a 1-year high of $113.03. The firm has a market cap of $37.58 billion, a price-to-earnings ratio of 7.78, a price-to-earnings-growth ratio of 0.79 and a beta of 1.41.

Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, February 6th. The financial services provider reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.88 by ($0.44). Prudential Financial had a net margin of 7.01% and a return on equity of 10.20%. The business had revenue of $17.78 billion for the quarter, compared to the consensus estimate of $14.03 billion. During the same quarter in the previous year, the firm earned $2.69 EPS. Equities research analysts predict that Prudential Financial Inc will post 12.83 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 14th. Shareholders of record on Wednesday, February 20th will be paid a dividend of $1.00 per share. This is a positive change from Prudential Financial’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Tuesday, February 19th. This represents a $4.00 annualized dividend and a yield of 4.40%. Prudential Financial’s payout ratio is presently 30.80%.

A number of brokerages recently issued reports on PRU. Keefe, Bruyette & Woods restated a “buy” rating and issued a $113.00 price target on shares of Prudential Financial in a research note on Wednesday, January 9th. Evercore ISI upgraded shares of Prudential Financial from an “in-line” rating to an “outperform” rating and set a $85.50 price target for the company in a research note on Wednesday, January 9th. Zacks Investment Research lowered shares of Prudential Financial from a “hold” rating to a “sell” rating in a research note on Friday, February 1st. ValuEngine lowered shares of Prudential Financial from a “sell” rating to a “strong sell” rating in a research note on Friday, November 16th. Finally, Wells Fargo & Co began coverage on shares of Prudential Financial in a research note on Tuesday, January 8th. They issued an “outperform” rating and a $105.00 price target for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $114.19.

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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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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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