Flippin Bruce & Porter Inc. grew its holdings in shares of Prudential Financial (NYSE:PRU) by 2.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,363 shares of the financial services provider’s stock after acquiring an additional 1,391 shares during the period. Flippin Bruce & Porter Inc.’s holdings in Prudential Financial were worth $6,354,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Pinnacle Wealth Planning Services Inc. acquired a new position in Prudential Financial in the fourth quarter worth about $105,000. Truewealth LLC acquired a new position in Prudential Financial in the fourth quarter worth about $105,000. We Are One Seven LLC acquired a new position in Prudential Financial in the fourth quarter worth about $111,000. Virtue Capital Management LLC acquired a new position in Prudential Financial in the fourth quarter worth about $123,000. Finally, FTB Advisors Inc. grew its stake in Prudential Financial by 232.2% in the fourth quarter. FTB Advisors Inc. now owns 1,073 shares of the financial services provider’s stock worth $124,000 after purchasing an additional 750 shares in the last quarter. Institutional investors own 67.82% of the company’s stock.
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PRU has been the subject of a number of research reports. Wells Fargo reiterated a “hold” rating and issued a $122.00 price target on shares of Prudential Financial in a research note on Wednesday, February 7th. Morgan Stanley decreased their price target on Prudential Financial from $133.00 to $131.00 and set an “equal weight” rating for the company in a research note on Thursday, February 8th. Deutsche Bank decreased their price target on Prudential Financial from $132.00 to $125.00 and set a “hold” rating for the company in a research note on Friday, February 9th. Royal Bank of Canada upgraded Prudential Financial from a “sector perform” rating to an “outperform” rating in a research note on Monday, February 12th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $128.00 price target on shares of Prudential Financial in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $116.50.
Shares of NYSE PRU opened at $100.54 on Wednesday. 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 has a 52-week low of $99.39 and a 52-week high of $101.58. The stock has a market capitalization of $41.95 billion, a price-to-earnings ratio of 9.50, a price-to-earnings-growth ratio of 0.97 and a beta of 1.52.
Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, May 2nd. The financial services provider reported $3.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.98 by $0.10. Prudential Financial had a net margin of 13.57% and a return on equity of 9.25%. The firm had revenue of $12.88 billion for the quarter, compared to analysts’ expectations of $13.68 billion. During the same quarter last year, the company posted $2.79 earnings per share. analysts anticipate that Prudential Financial will post 12.15 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 14th. Shareholders of record on Tuesday, May 22nd will be issued a $0.90 dividend. The ex-dividend date of this dividend is Monday, May 21st. This represents a $3.60 dividend on an annualized basis and a yield of 3.58%. Prudential Financial’s dividend payout ratio is currently 34.03%.
In other Prudential Financial news, insider Stephen Pelletier sold 40,729 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $108.75, for a total value of $4,429,278.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.61% of the company’s stock.
About Prudential Financial
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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