Benin Management CORP trimmed its position in Prudential Financial Inc (NYSE:PRU) by 2.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 134,673 shares of the financial services provider’s stock after selling 3,010 shares during the period. Prudential Financial comprises 5.3% of Benin Management CORP’s investment portfolio, making the stock its 2nd largest holding. Benin Management CORP’s holdings in Prudential Financial were worth $12,624,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of PRU. Nippon Life Insurance Co. raised its stake in shares of Prudential Financial by 72.0% in the third quarter. Nippon Life Insurance Co. now owns 4,401,995 shares of the financial services provider’s stock valued at $395,959,000 after purchasing an additional 1,841,995 shares in the last quarter. BlackRock Inc. raised its stake in shares of Prudential Financial by 6.2% in the second quarter. BlackRock Inc. now owns 31,395,669 shares of the financial services provider’s stock valued at $3,170,962,000 after purchasing an additional 1,840,652 shares in the last quarter. Railway Pension Investments Ltd raised its stake in shares of Prudential Financial by 185.2% in the third quarter. Railway Pension Investments Ltd now owns 347,147 shares of the financial services provider’s stock valued at $31,225,000 after purchasing an additional 225,419 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Prudential Financial in the third quarter valued at $18,733,000. Finally, Royal Bank of Canada raised its stake in shares of Prudential Financial by 7.0% in the second quarter. Royal Bank of Canada now owns 2,694,921 shares of the financial services provider’s stock valued at $272,187,000 after purchasing an additional 176,151 shares in the last quarter. Institutional investors and hedge funds own 62.12% of the company’s stock.
Prudential Financial stock opened at $95.53 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.11 and a quick ratio of 0.11. The stock has a fifty day moving average price of $94.20 and a two-hundred day moving average price of $91.47. Prudential Financial Inc has a 52-week low of $77.65 and a 52-week high of $106.39. The firm has a market capitalization of $38.57 billion, a P/E ratio of 10.21, a P/E/G ratio of 0.86 and a beta of 1.59.
Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Monday, November 4th. The financial services provider reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $0.15. Prudential Financial had a return on equity of 8.45% and a net margin of 6.67%. The firm had revenue of $12.93 billion during the quarter, compared to analyst estimates of $14.27 billion. During the same period in the prior year, the company posted $3.15 earnings per share. On average, equities research analysts predict that Prudential Financial Inc will post 11.43 EPS for the current fiscal year.
A number of research analysts recently commented on PRU shares. DOWLING & PARTN restated a “buy” rating on shares of Prudential Financial in a research note on Monday, November 18th. Credit Suisse Group dropped their price objective on Prudential Financial from $98.00 to $90.00 and set a “neutral” rating for the company in a research note on Monday, September 30th. Citigroup lowered Prudential Financial from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $88.00 to $86.00 in a research note on Monday, November 25th. Keefe, Bruyette & Woods lowered Prudential Financial from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $107.00 to $102.00 in a research note on Wednesday, November 6th. Finally, Wells Fargo & Co lowered Prudential Financial from an “outperform” rating to a “market perform” rating and set a $92.00 price objective for the company. in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $97.75.
Prudential Financial 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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