Verity & Verity LLC raised its stake in Prudential Financial Inc (NYSE:PRU) by 86.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 73,726 shares of the financial services provider’s stock after purchasing an additional 34,184 shares during the quarter. Prudential Financial accounts for about 1.6% of Verity & Verity LLC’s portfolio, making the stock its 25th biggest position. Verity & Verity LLC’s holdings in Prudential Financial were worth $7,446,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of the company. Joseph P. Lucia & Associates LLC bought a new position in shares of Prudential Financial in the first quarter valued at approximately $25,000. Berman Capital Advisors LLC grew its holdings in shares of Prudential Financial by 68.0% in the first quarter. Berman Capital Advisors LLC now owns 346 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 140 shares in the last quarter. Advisory Alpha LLC bought a new position in shares of Prudential Financial in the first quarter valued at approximately $32,000. Somerset Trust Co grew its holdings in shares of Prudential Financial by 276.4% in the first quarter. Somerset Trust Co now owns 414 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 304 shares in the last quarter. Finally, Rational Advisors LLC grew its holdings in shares of Prudential Financial by 469.6% in the first quarter. Rational Advisors LLC now owns 450 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 371 shares in the last quarter. 63.20% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered Haynes International from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th. Wells Fargo & Co set a $29.00 target price on Amphastar Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, June 6th. ValuEngine lowered Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Citigroup lowered Barrick Gold to a “neutral” rating in a report on Thursday, May 23rd. Finally, B. Riley set a $20.00 target price on AMC Entertainment and gave the company a “buy” rating in a report on Wednesday, June 26th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $110.59.
NYSE PRU traded up $0.71 on Friday, hitting $103.17. 401,130 shares of the stock traded hands, compared to its average volume of 1,413,402. The stock’s fifty day simple moving average is $100.66. Prudential Financial Inc has a 12 month low of $75.61 and a 12 month high of $106.64. The company has a market cap of $41.66 billion, a price-to-earnings ratio of 8.83, a price-to-earnings-growth ratio of 0.90 and a beta of 1.48. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.11 and a quick ratio of 0.11.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $3.00 earnings per share for the quarter, missing the consensus estimate of $3.14 by ($0.14). Prudential Financial had a net margin of 6.18% and a return on equity of 9.87%. The firm had revenue of $13.65 billion for the quarter, compared to the consensus estimate of $13.74 billion. During the same period last year, the company posted $3.08 earnings per share. On average, analysts forecast that Prudential Financial Inc will post 12.68 earnings per share for the current fiscal year.
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.
Further Reading: Ex-Dividend
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