Hancock Whitney Corp raised its holdings in Prudential Financial Inc (NYSE:PRU) by 28.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,087 shares of the financial services provider’s stock after acquiring an additional 8,869 shares during the quarter. Hancock Whitney Corp’s holdings in Prudential Financial were worth $2,091,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of PRU. Atlas Private Wealth Management acquired a new stake in Prudential Financial in the fourth quarter valued at approximately $26,000. Golden State Wealth Management LLC acquired a new stake in shares of Prudential Financial in the first quarter worth $32,000. Legacy Bridge LLC acquired a new stake in shares of Prudential Financial in the fourth quarter worth $33,000. Global Financial Private Capital Inc lifted its stake in shares of Prudential Financial by 4,312.5% in the fourth quarter. Global Financial Private Capital Inc now owns 353 shares of the financial services provider’s stock worth $33,000 after buying an additional 345 shares during the last quarter. Finally, WASHINGTON TRUST Co acquired a new stake in shares of Prudential Financial in the first quarter worth $33,000. Hedge funds and other institutional investors own 63.37% of the company’s stock.
PRU has been the subject of a number of analyst reports. Piper Sandler cut shares of Prudential Financial from an “overweight” rating to a “neutral” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. reduced their price objective on shares of Prudential Financial from $108.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. B. Riley reduced their price objective on shares of Prudential Financial from $70.00 to $57.00 and set a “neutral” rating for the company in a research note on Tuesday, April 21st. Wells Fargo & Co reduced their price objective on shares of Prudential Financial from $67.00 to $62.00 and set an “equal weight” rating for the company in a research note on Thursday, May 7th. Finally, ValuEngine cut shares of Prudential Financial from a “sell” rating to a “strong sell” rating in a research note on Tuesday, April 21st. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $79.71.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.84 by ($0.52). The business had revenue of $13.33 billion during the quarter, compared to the consensus estimate of $14.81 billion. Prudential Financial had a net margin of 5.16% and a return on equity of 7.13%. During the same period last year, the firm earned $3.00 EPS. Equities research analysts anticipate that Prudential Financial Inc will post 9.2 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Tuesday, May 26th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 7.82%. The ex-dividend date of this dividend is Friday, May 22nd. Prudential Financial’s dividend payout ratio (DPR) is presently 37.64%.
In other Prudential Financial news, SVP Nicholas C. Silitch sold 8,200 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $88.17, for a total value of $722,994.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.33% of the company’s stock.
Prudential Financial Company 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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