Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Twin Capital Management Inc.

Twin Capital Management Inc. decreased its stake in Prudential Financial, Inc. (NYSE:PRUGet Rating) by 14.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,527 shares of the financial services provider’s stock after selling 1,250 shares during the period. Twin Capital Management Inc.’s holdings in Prudential Financial were worth $889,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. SouthState Corp lifted its stake in shares of Prudential Financial by 580.1% in the first quarter. SouthState Corp now owns 1,877 shares of the financial services provider’s stock valued at $222,000 after purchasing an additional 1,601 shares during the period. Quadrant Capital Group LLC raised its position in Prudential Financial by 9.9% during the first quarter. Quadrant Capital Group LLC now owns 2,674 shares of the financial services provider’s stock worth $316,000 after acquiring an additional 241 shares during the last quarter. BDO Wealth Advisors LLC raised its position in Prudential Financial by 3.8% during the first quarter. BDO Wealth Advisors LLC now owns 6,478 shares of the financial services provider’s stock worth $765,000 after acquiring an additional 239 shares during the last quarter. Fairfield Bush & CO. acquired a new position in Prudential Financial during the first quarter worth about $36,000. Finally, AIA Group Ltd raised its position in Prudential Financial by 49.1% during the first quarter. AIA Group Ltd now owns 3,463 shares of the financial services provider’s stock worth $409,000 after acquiring an additional 1,141 shares during the last quarter. Institutional investors and hedge funds own 56.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on PRU. Citigroup began coverage on shares of Prudential Financial in a research report on Monday, May 23rd. They set a “neutral” rating and a $100.00 target price for the company. Evercore ISI cut their target price on shares of Prudential Financial from $107.00 to $100.00 and set an “underperform” rating for the company in a research report on Wednesday, July 6th. Barclays lowered their price target on shares of Prudential Financial from $115.00 to $95.00 and set an “equal weight” rating for the company in a report on Wednesday, July 13th. Morgan Stanley lowered their price target on shares of Prudential Financial from $120.00 to $103.00 and set an “equal weight” rating for the company in a report on Wednesday, July 6th. Finally, Wells Fargo & Company lifted their price target on shares of Prudential Financial from $95.00 to $101.00 and gave the stock an “equal weight” rating in a report on Thursday. Two analysts have rated the stock with a sell rating and ten have given a hold rating to the company. Based on data from MarketBeat, Prudential Financial has a consensus rating of “Hold” and an average target price of $106.42.

Prudential Financial Price Performance

Prudential Financial stock opened at $95.95 on Friday. Prudential Financial, Inc. has a 1 year low of $89.73 and a 1 year high of $124.22. The firm has a 50 day moving average price of $97.46 and a 200 day moving average price of $107.04. The company has a market cap of $35.98 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 0.99 and a beta of 1.42. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.06 and a current ratio of 0.07.

Prudential Financial (NYSE:PRUGet Rating) last released its earnings results on Tuesday, May 3rd. The financial services provider reported $3.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.50. Prudential Financial had a net margin of 3.52% and a return on equity of 9.25%. The firm had revenue of $13.66 billion during the quarter, compared to the consensus estimate of $13.93 billion. During the same period in the previous year, the firm earned $4.11 earnings per share. Sell-side analysts predict that Prudential Financial, Inc. will post 10.86 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 16th. Investors of record on Tuesday, May 24th were issued a $1.20 dividend. The ex-dividend date of this dividend was Monday, May 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 5.00%. Prudential Financial’s payout ratio is 88.89%.

Prudential Financial Profile

(Get Rating)

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block.

See Also

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

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