Indiana Trust & Investment Management CO lowered its stake in Prudential Financial Inc (NYSE:PRU) by 3.3% in the second quarter, Holdings Channel reports. The institutional investor owned 19,023 shares of the financial services provider’s stock after selling 648 shares during the period. Indiana Trust & Investment Management CO’s holdings in Prudential Financial were worth $1,779,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Raymond James & Associates raised its holdings in shares of Prudential Financial by 13.6% in the fourth quarter. Raymond James & Associates now owns 197,126 shares of the financial services provider’s stock worth $22,666,000 after buying an additional 23,565 shares during the last quarter. Banco de Sabadell S.A purchased a new position in shares of Prudential Financial in the fourth quarter worth $1,758,000. Koch Industries Inc. purchased a new position in shares of Prudential Financial in the first quarter worth $597,000. Thrivent Financial For Lutherans raised its holdings in shares of Prudential Financial by 1,001.8% in the fourth quarter. Thrivent Financial For Lutherans now owns 202,501 shares of the financial services provider’s stock worth $23,284,000 after buying an additional 184,122 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its holdings in shares of Prudential Financial by 0.7% in the fourth quarter. TIAA CREF Investment Management LLC now owns 1,172,975 shares of the financial services provider’s stock worth $134,869,000 after buying an additional 8,124 shares during the last quarter. 64.42% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $125.00 price target on shares of Prudential Financial in a report on Thursday, April 12th. Wells Fargo & Co reaffirmed a “hold” rating and issued a $111.00 price target on shares of Prudential Financial in a report on Thursday, May 3rd. Bank of America assumed coverage on shares of Prudential Financial in a report on Monday, March 26th. They issued a “buy” rating and a $117.00 price target for the company. Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $111.00 price target for the company in a report on Monday, June 4th. Finally, Deutsche Bank decreased their price target on shares of Prudential Financial from $125.00 to $113.00 and set a “hold” rating for the company in a report on Friday, May 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $114.75.
NYSE:PRU opened at $94.34 on Friday. The firm has a market capitalization of $39.48 billion, a PE ratio of 8.92, a price-to-earnings-growth ratio of 0.86 and a beta of 1.50. Prudential Financial Inc has a 1-year low of $92.05 and a 1-year high of $127.14. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.35.
Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, May 2nd. The financial services provider reported $3.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.98 by $0.10. The firm had revenue of $12.88 billion for the quarter, compared to analyst estimates of $13.68 billion. Prudential Financial had a net margin of 13.57% and a return on equity of 9.25%. During the same quarter in the prior year, the business earned $2.79 earnings per share. research analysts predict that Prudential Financial Inc will post 12.15 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 14th. Investors of record on Tuesday, May 22nd were given a dividend of $0.90 per share. The ex-dividend date was Monday, May 21st. This represents a $3.60 annualized dividend and a yield of 3.82%. Prudential Financial’s dividend payout ratio is presently 34.03%.
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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