Lido Advisors LLC Trims Stake in Prudential Financial, Inc. $PRU

Lido Advisors LLC decreased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 37.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,824 shares of the financial services provider’s stock after selling 19,942 shares during the quarter. Lido Advisors LLC’s holdings in Prudential Financial were worth $3,304,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PRU. Jessup Wealth Management Inc purchased a new position in Prudential Financial during the 4th quarter valued at $25,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Prudential Financial during the fourth quarter worth $26,000. Salomon & Ludwin LLC boosted its stake in shares of Prudential Financial by 98.3% during the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 114 shares during the period. SJS Investment Consulting Inc. grew its holdings in shares of Prudential Financial by 93.1% in the first quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 134 shares during the last quarter. Finally, Lodestone Wealth Management LLC bought a new stake in Prudential Financial during the 4th quarter valued at about $28,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PRU has been the topic of a number of research reports. BMO Capital Markets reduced their target price on shares of Prudential Financial from $91.00 to $87.00 and set an “underperform” rating on the stock in a research report on Thursday, April 23rd. Bank of America cut their price target on Prudential Financial from $112.00 to $104.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. UBS Group decreased their price objective on Prudential Financial from $105.00 to $98.00 and set a “neutral” rating for the company in a research note on Thursday, April 9th. TD Cowen boosted their target price on shares of Prudential Financial from $102.00 to $114.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Weiss Ratings raised shares of Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Prudential Financial presently has an average rating of “Reduce” and a consensus price target of $105.46.

Prudential Financial Trading Up 1.7%

NYSE:PRU opened at $119.83 on Friday. Prudential Financial, Inc. has a 12 month low of $91.89 and a 12 month high of $120.58. The firm has a fifty day simple moving average of $108.91 and a 200-day simple moving average of $104.36. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $41.58 billion, a P/E ratio of 12.33, a PEG ratio of 2.40 and a beta of 0.85.

Prudential Financial (NYSE:PRU) last released its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.52. The firm had revenue of $15.23 billion for the quarter, compared to the consensus estimate of $14.10 billion. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.During the same period in the prior year, the firm earned $3.29 EPS. On average, equities research analysts anticipate that Prudential Financial, Inc. will post 13.75 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, May 26th were issued a $1.40 dividend. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.7%. Prudential Financial’s dividend payout ratio is currently 57.61%.

Prudential Financial Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.