Prudential Financial, Inc. $PRU Shares Acquired by Sei Investments Co.

Sei Investments Co. increased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 81.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 446,647 shares of the financial services provider’s stock after buying an additional 200,947 shares during the quarter. Sei Investments Co.’s holdings in Prudential Financial were worth $43,634,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Jessup Wealth Management Inc acquired a new stake in Prudential Financial during the fourth quarter worth $25,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of Prudential Financial in the 4th quarter valued at $26,000. Salomon & Ludwin LLC grew its holdings in shares of Prudential Financial by 98.3% during the 4th quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 114 shares during the period. Lodestone Wealth Management LLC acquired a new stake in shares of Prudential Financial during the 4th quarter worth about $28,000. Finally, Basepoint Wealth LLC acquired a new stake in shares of Prudential Financial during the 4th quarter worth about $30,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on PRU shares. Bank of America decreased their target price on shares of Prudential Financial from $112.00 to $104.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. Keefe, Bruyette & Woods lifted their price target on shares of Prudential Financial from $106.00 to $113.00 and gave the company a “market perform” rating in a research report on Monday, July 13th. Wall Street Zen upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Morgan Stanley reaffirmed an “underweight” rating and set a $92.00 price objective (down from $106.00) on shares of Prudential Financial in a research report on Monday, May 4th. Finally, Argus lowered Prudential Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, June 9th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $105.46.

Prudential Financial Stock Performance

NYSE PRU opened at $119.83 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market cap of $41.58 billion, a P/E ratio of 12.33, a P/E/G ratio of 2.40 and a beta of 0.85. The stock has a 50-day moving average of $108.91 and a two-hundred day moving average of $104.27. Prudential Financial, Inc. has a 1-year low of $91.89 and a 1-year high of $120.58.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $14.10 billion. During the same quarter in the prior year, the company earned $3.29 earnings per share. As a group, analysts anticipate that Prudential Financial, Inc. will post 13.75 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, May 26th were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend was Tuesday, May 26th. Prudential Financial’s dividend payout ratio is presently 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.