Prudential Financial, Inc. $PRU Position Increased by Hsbc Holdings PLC

Hsbc Holdings PLC grew its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 14.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,120,223 shares of the financial services provider’s stock after purchasing an additional 144,428 shares during the period. Hsbc Holdings PLC’s holdings in Prudential Financial were worth $126,550,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Sunflower Bank N.A. grew its position in shares of Prudential Financial by 3.2% during the 4th quarter. Sunflower Bank N.A. now owns 2,911 shares of the financial services provider’s stock valued at $329,000 after buying an additional 91 shares during the last quarter. Wetzel Investment Advisors Inc. lifted its holdings in Prudential Financial by 0.9% in the fourth quarter. Wetzel Investment Advisors Inc. now owns 10,022 shares of the financial services provider’s stock worth $1,131,000 after acquiring an additional 94 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in Prudential Financial by 0.3% in the third quarter. CIBC Private Wealth Group LLC now owns 28,795 shares of the financial services provider’s stock valued at $2,987,000 after acquiring an additional 97 shares during the period. Transcend Capital Advisors LLC grew its holdings in shares of Prudential Financial by 2.4% during the fourth quarter. Transcend Capital Advisors LLC now owns 4,175 shares of the financial services provider’s stock valued at $471,000 after purchasing an additional 98 shares during the last quarter. Finally, Mindset Wealth Management LLC grew its holdings in shares of Prudential Financial by 2.1% during the third quarter. Mindset Wealth Management LLC now owns 4,781 shares of the financial services provider’s stock valued at $496,000 after purchasing an additional 100 shares during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on PRU shares. Bank of America cut their price target on Prudential Financial from $112.00 to $104.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. Wells Fargo & Company upped their price objective on Prudential Financial from $93.00 to $100.00 and gave the stock an “underweight” rating in a research note on Tuesday, May 12th. Keefe, Bruyette & Woods raised their target price on Prudential Financial from $100.00 to $106.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. Weiss Ratings raised shares of Prudential Financial from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 12th. Finally, Argus lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, June 9th. Eleven equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $101.50.

Prudential Financial Stock Performance

Shares of NYSE PRU opened at $106.86 on Monday. Prudential Financial, Inc. has a 12-month low of $91.89 and a 12-month high of $119.76. The company has a market cap of $37.08 billion, a PE ratio of 10.99, a P/E/G ratio of 1.94 and a beta of 0.86. The stock has a 50 day simple moving average of $101.55 and a 200-day simple moving average of $104.31. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, beating the consensus estimate of $3.09 by $0.52. The firm had revenue of $15.23 billion for the quarter, compared to analysts’ expectations of $14.10 billion. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.During the same period last year, the firm earned $3.29 EPS. On average, equities research analysts forecast that Prudential Financial, Inc. will post 13.78 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, May 26th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend was Tuesday, May 26th. Prudential Financial’s dividend payout ratio (DPR) is 57.61%.

Prudential Financial Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.