GSB Wealth Management LLC trimmed its holdings in shares of Prudential Financial, Inc. (NYSE:PRU – Free Report) by 38.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,761 shares of the financial services provider’s stock after selling 4,826 shares during the quarter. GSB Wealth Management LLC’s holdings in Prudential Financial were worth $642,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the business. Centaurus Financial Inc. grew its position in Prudential Financial by 8.8% during the first quarter. Centaurus Financial Inc. now owns 4,420 shares of the financial services provider’s stock valued at $366,000 after buying an additional 357 shares during the period. B. Riley Wealth Advisors Inc. boosted its position in shares of Prudential Financial by 25.8% in the first quarter. B. Riley Wealth Advisors Inc. now owns 19,338 shares of the financial services provider’s stock worth $1,600,000 after purchasing an additional 3,969 shares during the period. Advisory Services Network LLC boosted its position in shares of Prudential Financial by 14.5% in the first quarter. Advisory Services Network LLC now owns 43,613 shares of the financial services provider’s stock worth $3,608,000 after purchasing an additional 5,521 shares during the period. Rockefeller Capital Management L.P. boosted its position in shares of Prudential Financial by 2.3% in the first quarter. Rockefeller Capital Management L.P. now owns 306,082 shares of the financial services provider’s stock worth $25,324,000 after purchasing an additional 6,895 shares during the period. Finally, Providence Capital Advisors LLC boosted its position in shares of Prudential Financial by 8,350.2% in the first quarter. Providence Capital Advisors LLC now owns 2,219,790 shares of the financial services provider’s stock worth $26,828,000 after purchasing an additional 2,193,521 shares during the period. 54.92% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on PRU shares. Morgan Stanley reiterated an “equal weight” rating and issued a $102.00 price target on shares of Prudential Financial in a research report on Wednesday, August 2nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 price target on shares of Prudential Financial in a research report on Friday, September 8th. StockNews.com began coverage on shares of Prudential Financial in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Jefferies Financial Group raised shares of Prudential Financial from an “underperform” rating to a “hold” rating in a report on Wednesday. Finally, Raymond James raised shares of Prudential Financial from a “market perform” rating to a “strong-buy” rating and set a $125.00 target price on the stock in a report on Thursday, August 24th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Prudential Financial currently has a consensus rating of “Hold” and a consensus target price of $103.70.
Prudential Financial Price Performance
Prudential Financial stock opened at $96.58 on Thursday. The company has a market cap of $35.06 billion, a price-to-earnings ratio of 32.19, a PEG ratio of 0.75 and a beta of 1.41. The firm’s fifty day moving average is $94.10 and its 200 day moving average is $87.98. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.64. Prudential Financial, Inc. has a 52-week low of $75.37 and a 52-week high of $110.96.
Prudential Financial (NYSE:PRU – Get Free Report) last released its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $2.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.04 by ($0.10). The business had revenue of $12.64 billion for the quarter, compared to analysts’ expectations of $12.68 billion. Prudential Financial had a net margin of 1.82% and a return on equity of 15.73%. During the same period in the previous year, the company earned $1.74 EPS. Sell-side analysts forecast that Prudential Financial, Inc. will post 11.82 EPS for the current fiscal year.
Prudential Financial Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Tuesday, August 22nd will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 5.18%. The ex-dividend date of this dividend is Monday, August 21st. Prudential Financial’s dividend payout ratio is currently 166.67%.
About Prudential Financial
Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, and International Businesses segments.
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