Prudential Financial, Inc. $PRU Shares Purchased by Calamos Advisors LLC

Calamos Advisors LLC boosted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 9.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,278 shares of the financial services provider’s stock after purchasing an additional 5,146 shares during the period. Calamos Advisors LLC’s holdings in Prudential Financial were worth $6,084,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Jessup Wealth Management Inc purchased a new position in shares of Prudential Financial in the 4th quarter worth $25,000. Garton & Associates Financial Advisors LLC purchased a new stake in Prudential Financial during the fourth quarter valued at about $26,000. Salomon & Ludwin LLC increased its stake in Prudential Financial by 98.3% during the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 114 shares during the last quarter. SJS Investment Consulting Inc. raised its holdings in shares of Prudential Financial by 93.1% in the 1st 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 period. Finally, Lodestone Wealth Management LLC acquired a new position in shares of Prudential Financial in the 4th quarter valued at about $28,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Stock Performance

Prudential Financial stock opened at $114.97 on Wednesday. The stock’s 50 day moving average price is $106.24 and its 200 day moving average price is $104.04. The firm has a market capitalization of $39.89 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 2.11 and a beta of 0.85. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a one year low of $91.89 and a one year high of $119.76.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.52. The firm had revenue of $15.23 billion during the quarter, compared to analysts’ expectations of $14.10 billion. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.During the same quarter in the prior year, the business earned $3.29 EPS. As a group, sell-side analysts expect that Prudential Financial, Inc. will post 13.82 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, May 26th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Tuesday, May 26th. Prudential Financial’s dividend payout ratio (DPR) is presently 57.61%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PRU. Zacks Research upgraded Prudential Financial from a “strong sell” rating to a “hold” rating in a report on Friday, June 12th. Barclays lifted their price target on shares of Prudential Financial from $90.00 to $92.00 and gave the company an “underweight” rating in a research report on Tuesday, July 7th. Bank of America dropped their price objective on shares of Prudential Financial from $112.00 to $104.00 and set a “neutral” rating for the company in a research report on Tuesday, April 14th. Jefferies Financial Group raised their target price on shares of Prudential Financial from $105.00 to $110.00 and gave the company a “hold” rating in a research note on Friday, July 10th. Finally, UBS Group reduced their target price on shares of Prudential Financial from $105.00 to $98.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Eleven research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $104.58.

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.