Comerica Bank reduced its position in Prudential Financial Inc (NYSE:PRU) by 0.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 105,128 shares of the financial services provider’s stock after selling 305 shares during the period. Comerica Bank’s holdings in Prudential Financial were worth $9,575,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of PRU. Oregon Public Employees Retirement Fund lifted its holdings in shares of Prudential Financial by 8,297.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,932,559 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 11,790,464 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in Prudential Financial by 31.9% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 3,468,515 shares of the financial services provider’s stock valued at $351,430,000 after acquiring an additional 839,309 shares during the period. CIBC World Markets Inc. increased its position in Prudential Financial by 985.8% in the 3rd quarter. CIBC World Markets Inc. now owns 688,124 shares of the financial services provider’s stock valued at $69,721,000 after acquiring an additional 624,750 shares during the period. Rothschild & Co. Asset Management US Inc. acquired a new position in Prudential Financial in the 3rd quarter valued at about $63,195,000. Finally, Teachers Advisors LLC increased its position in Prudential Financial by 52.5% in the 3rd quarter. Teachers Advisors LLC now owns 1,453,338 shares of the financial services provider’s stock valued at $147,252,000 after acquiring an additional 500,185 shares during the period. 66.23% of the stock is owned by institutional investors and hedge funds.
NYSE PRU opened at $94.15 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.11 and a current ratio of 0.11. Prudential Financial Inc has a 12-month low of $75.61 and a 12-month high of $111.18. The company has a market cap of $38.88 billion, a price-to-earnings ratio of 8.05, a price-to-earnings-growth ratio of 0.81 and a beta of 1.41.
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 given a dividend of $1.00 per share. This is a boost 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 4.25%. Prudential Financial’s payout ratio is presently 30.80%.
PRU has been the topic of several recent research reports. Zacks Investment Research cut Prudential Financial from a “hold” rating to a “sell” rating in a research report on Friday, February 1st. ValuEngine cut Prudential Financial from a “sell” rating to a “strong sell” rating in a research report on Friday, November 16th. Evercore ISI upgraded Prudential Financial from an “in-line” rating to an “outperform” rating and set a $85.50 price target on the stock in a research report on Wednesday, January 9th. Morgan Stanley dropped their price target on Prudential Financial from $122.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 8th. Finally, Wells Fargo & Co initiated coverage on Prudential Financial in a research report on Tuesday, January 8th. They issued an “outperform” rating and a $105.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Prudential Financial currently has an average rating of “Buy” and a consensus price target of $114.19.
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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