Great Lakes Advisors LLC Has $66.83 Million Stake in Prudential Financial Inc (PRU)

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Great Lakes Advisors LLC lessened its position in Prudential Financial Inc (NYSE:PRU) by 0.1% in the first quarter, HoldingsChannel.com reports. The firm owned 727,316 shares of the financial services provider’s stock after selling 942 shares during the quarter. Prudential Financial accounts for approximately 1.5% of Great Lakes Advisors LLC’s holdings, making the stock its 4th biggest holding. Great Lakes Advisors LLC’s holdings in Prudential Financial were worth $66,826,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Somerset Trust Co lifted its stake in shares of Prudential Financial by 276.4% in the 1st quarter. Somerset Trust Co now owns 414 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 304 shares during the period. Semmax Financial Advisors Inc. purchased a new position in shares of Prudential Financial in the 4th quarter valued at approximately $35,000. Old North State Trust LLC lifted its stake in shares of Prudential Financial by 46.5% in the 4th quarter. Old North State Trust LLC now owns 438 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 139 shares during the period. Baldwin Brothers Inc. MA lifted its stake in shares of Prudential Financial by 146.7% in the 4th quarter. Baldwin Brothers Inc. MA now owns 454 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 270 shares during the period. Finally, PRW Wealth Management LLC purchased a new position in shares of Prudential Financial in the 4th quarter valued at approximately $39,000. Institutional investors own 66.25% of the company’s stock.

PRU has been the subject of a number of recent research reports. UBS Group lifted their price objective on Prudential Financial from $114.00 to $116.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Zacks Investment Research cut Prudential Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, January 23rd. Deutsche Bank lifted their price objective on Prudential Financial from $97.00 to $104.00 and gave the company a “hold” rating in a research note on Friday, April 12th. Finally, ValuEngine upgraded Prudential Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $111.71.

In other Prudential Financial news, insider Stephen Pelletier sold 26,006 shares of Prudential Financial stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $94.04, for a total value of $2,445,604.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicholas C. Silitch sold 13,000 shares of Prudential Financial stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $95.25, for a total value of $1,238,250.00. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by company insiders.

Shares of NYSE:PRU opened at $98.81 on Friday. The firm has a market cap of $40.12 billion, a price-to-earnings ratio of 8.45, a P/E/G ratio of 0.86 and a beta of 1.48. Prudential Financial Inc has a 12-month low of $75.61 and a 12-month high of $106.64. 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 (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.14 by ($0.14). The company had revenue of $13.65 billion for the quarter, compared to analysts’ expectations of $13.74 billion. Prudential Financial had a net margin of 6.18% and a return on equity of 9.87%. During the same quarter in the previous year, the firm posted $3.08 EPS. As a group, research analysts anticipate that Prudential Financial Inc will post 12.81 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, May 28th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend is Friday, May 24th. Prudential Financial’s payout ratio is 34.22%.

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About Prudential Financial

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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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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