Havemeyer Place LP Invests $612,000 in Prudential Financial, Inc. $PRU

Havemeyer Place LP bought a new position in Prudential Financial, Inc. (NYSE:PRU) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,418 shares of the financial services provider’s stock, valued at approximately $612,000.

Several other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of Prudential Financial by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 9,533,806 shares of the financial services provider’s stock worth $1,078,904,000 after acquiring an additional 26,414 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Prudential Financial by 2.4% in the 3rd quarter. Legal & General Group Plc now owns 2,701,116 shares of the financial services provider’s stock worth $280,214,000 after acquiring an additional 62,366 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Prudential Financial by 16.6% in the 4th quarter. Nordea Investment Management AB now owns 2,044,374 shares of the financial services provider’s stock worth $231,321,000 after acquiring an additional 291,422 shares during the last quarter. Norges Bank bought a new stake in shares of Prudential Financial in the 4th quarter worth about $140,530,000. Finally, First Trust Advisors LP lifted its holdings in shares of Prudential Financial by 1.5% in the 3rd quarter. First Trust Advisors LP now owns 1,172,443 shares of the financial services provider’s stock worth $121,629,000 after acquiring an additional 17,030 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Down 0.8%

NYSE:PRU opened at $103.81 on Tuesday. Prudential Financial, Inc. has a one year low of $91.89 and a one year high of $119.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market cap of $36.02 billion, a P/E ratio of 10.68, a P/E/G ratio of 1.90 and a beta of 0.86. The firm has a 50-day simple moving average of $99.72 and a 200-day simple moving average of $104.31.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, beating the consensus estimate of $3.09 by $0.52. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. The business had revenue of $15.23 billion during the quarter, compared to analyst estimates of $14.10 billion. During the same quarter in the previous year, the business posted $3.29 EPS. Equities analysts anticipate that Prudential Financial, Inc. will post 13.84 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, May 26th will be issued a $1.40 dividend. The ex-dividend date is Tuesday, May 26th. This represents a $5.60 annualized dividend and a dividend yield of 5.4%. Prudential Financial’s payout ratio is currently 57.61%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Zacks Research lowered shares of Prudential Financial from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 29th. Keefe, Bruyette & Woods lifted their price objective on shares of Prudential Financial from $100.00 to $106.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $93.00 to $100.00 and gave the company an “underweight” rating in a report on Tuesday, May 12th. Jefferies Financial Group lowered shares of Prudential Financial from a “buy” rating to a “hold” rating and decreased their price objective for the company from $124.00 to $98.00 in a report on Wednesday, April 22nd. Finally, Morgan Stanley reiterated an “underweight” rating and set a $92.00 price objective (down from $106.00) on shares of Prudential Financial in a report on Monday, May 4th. Nine research analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $101.50.

Prudential Financial Company 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.