Miles Capital Inc. raised its stake in shares of Prudential Financial Inc (NYSE:PRU) by 142.0% in the first quarter, Holdings Channel reports. The institutional investor owned 10,442 shares of the financial services provider’s stock after acquiring an additional 6,128 shares during the period. Prudential Financial comprises about 0.8% of Miles Capital Inc.’s investment portfolio, making the stock its 27th biggest position. Miles Capital Inc.’s holdings in Prudential Financial were worth $959,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Berman Capital Advisors LLC raised its stake in shares of Prudential Financial by 68.0% during the 1st quarter. Berman Capital Advisors LLC now owns 346 shares of the financial services provider’s stock valued at $31,000 after buying an additional 140 shares during the last quarter. Somerset Trust Co increased 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 in the last quarter. Semmax Financial Advisors Inc. purchased a new position in shares of Prudential Financial in the 4th quarter valued at about $35,000. Old North State Trust LLC increased 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 in the last quarter. Finally, Rational Advisors LLC increased its stake in shares of Prudential Financial by 469.6% in the 1st quarter. Rational Advisors LLC now owns 450 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 371 shares in the last quarter. Institutional investors and hedge funds own 62.97% of the company’s stock.
In other Prudential Financial news, insider Nicholas C. Silitch sold 13,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $95.25, for a total transaction of $1,238,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.76% of the stock is currently owned by insiders.
NYSE:PRU opened at $97.11 on Friday. Prudential Financial Inc has a 12 month low of $75.61 and a 12 month high of $106.64. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.33. The company has a market cap of $40.78 billion, a price-to-earnings ratio of 8.31, a PEG ratio of 0.87 and a beta of 1.48.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $3.00 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.14 by ($0.14). Prudential Financial had a return on equity of 9.87% and a net margin of 6.18%. The firm had revenue of $13.65 billion for the quarter, compared to analysts’ expectations of $13.74 billion. During the same quarter last year, the firm posted $3.08 earnings per share. Equities research analysts forecast that Prudential Financial Inc will post 12.81 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, May 28th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $4.00 annualized dividend and a yield of 4.12%. Prudential Financial’s dividend payout ratio (DPR) is currently 34.22%.
Several brokerages recently weighed in on PRU. Citigroup set a $112.00 price target on Prudential Financial and gave the company a “buy” rating in a research note on Thursday. UBS Group lowered Prudential Financial from a “buy” rating to a “neutral” rating and cut their price target for the company from $116.00 to $112.00 in a research note on Monday, May 13th. Zacks Investment Research upgraded Prudential Financial from a “hold” rating to a “buy” rating and set a $113.00 price target for the company in a research note on Wednesday, May 8th. ValuEngine upgraded Prudential Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, Deutsche Bank lifted their price target on Prudential Financial from $97.00 to $104.00 and gave the company a “hold” rating in a research note on Friday, April 12th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $111.73.
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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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