Fort Washington Investment Advisors Inc. OH Acquires 631 Shares of Prudential Financial, Inc. (NYSE:PRU)
Fort Washington Investment Advisors Inc. OH lifted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 0.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 68,196 shares of the financial services provider’s stock after acquiring an additional 631 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Prudential Financial were worth $4,332,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Baystate Wealth Management LLC grew its position in shares of Prudential Financial by 954.5% during the 2nd quarter. Baystate Wealth Management LLC now owns 464 shares of the financial services provider’s stock worth $28,000 after buying an additional 420 shares in the last quarter. CX Institutional grew its position in shares of Prudential Financial by 104.3% during the 3rd quarter. CX Institutional now owns 472 shares of the financial services provider’s stock worth $30,000 after buying an additional 241 shares in the last quarter. Mercer Capital Advisers Inc. bought a new position in shares of Prudential Financial during the 3rd quarter worth $30,000. Old North State Trust LLC bought a new position in shares of Prudential Financial during the 3rd quarter worth $32,000. Finally, Exchange Traded Concepts LLC bought a new position in shares of Prudential Financial during the 3rd quarter worth $44,000. 57.10% of the stock is currently owned by institutional investors and hedge funds.
PRU has been the topic of a number of recent research reports. Barclays initiated coverage on Prudential Financial in a research report on Tuesday, November 17th. They set an “equal weight” rating and a $76.00 price target on the stock. Morgan Stanley upped their price objective on Prudential Financial from $76.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday. ValuEngine cut Prudential Financial from a “sell” rating to a “strong sell” rating in a research note on Monday, August 3rd. Zacks Investment Research upgraded Prudential Financial from a “sell” rating to a “hold” rating and set a $67.00 price objective for the company in a research note on Wednesday, October 28th. Finally, Wells Fargo & Company upped their price objective on Prudential Financial from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. Prudential Financial presently has an average rating of “Hold” and a consensus target price of $73.00.
Prudential Financial stock opened at $75.65 on Friday. The stock has a 50-day moving average of $67.59 and a two-hundred day moving average of $64.68. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial, Inc. has a one year low of $38.62 and a one year high of $97.24. The stock has a market cap of $29.96 billion, a PE ratio of -122.02, a price-to-earnings-growth ratio of 0.77 and a beta of 1.69.
Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, November 3rd. The financial services provider reported $3.21 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.52. Prudential Financial had a positive return on equity of 6.13% and a negative net margin of 0.25%. During the same period in the previous year, the firm earned $3.22 earnings per share. As a group, sell-side analysts predict that Prudential Financial, Inc. will post 9.45 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Tuesday, November 24th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 5.82%. The ex-dividend date of this dividend is Monday, November 23rd. Prudential Financial’s payout ratio is 37.64%.
Prudential Financial Profile
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block.
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