Cantor Fitzgerald L. P. Buys 222,193 Shares of Prudential Financial, Inc. (NYSE:PRU)
Cantor Fitzgerald L. P. grew its stake in shares of Prudential Financial, Inc. (NYSE:PRU – Free Report) by 145.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 374,914 shares of the financial services provider’s stock after buying an additional 222,193 shares during the period. Prudential Financial accounts for approximately 0.8% of Cantor Fitzgerald L. P.’s portfolio, making the stock its 27th largest holding. Cantor Fitzgerald L. P. owned approximately 0.10% of Prudential Financial worth $33,075,000 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. Fairfield Bush & CO. bought a new stake in shares of Prudential Financial during the first quarter valued at about $36,000. Blair William & Co. IL grew its holdings in shares of Prudential Financial by 11.3% during the first quarter. Blair William & Co. IL now owns 50,600 shares of the financial services provider’s stock worth $5,979,000 after purchasing an additional 5,126 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Prudential Financial by 6.4% during the first quarter. Sei Investments Co. now owns 90,235 shares of the financial services provider’s stock worth $10,698,000 after purchasing an additional 5,452 shares in the last quarter. Candriam Luxembourg S.C.A. grew its holdings in shares of Prudential Financial by 0.7% during the first quarter. Candriam Luxembourg S.C.A. now owns 47,576 shares of the financial services provider’s stock worth $5,621,000 after purchasing an additional 326 shares in the last quarter. Finally, Baird Financial Group Inc. grew its holdings in shares of Prudential Financial by 36.4% during the first quarter. Baird Financial Group Inc. now owns 135,716 shares of the financial services provider’s stock worth $16,037,000 after purchasing an additional 36,184 shares in the last quarter. 54.92% of the stock is currently owned by institutional investors.
Prudential Financial Trading Up 1.2 %
Shares of Prudential Financial stock traded up $1.21 during midday trading on Friday, reaching $100.87. 2,120,921 shares of the company’s stock traded hands, compared to its average volume of 1,400,987. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.07 and a current ratio of 0.07. The company has a market cap of $36.41 billion, a PE ratio of 65.08, a price-to-earnings-growth ratio of 0.81 and a beta of 1.38. The stock has a 50 day moving average of $93.77 and a 200-day moving average of $92.23. Prudential Financial, Inc. has a 12 month low of $75.37 and a 12 month high of $107.31.
Prudential Financial (NYSE:PRU – Get Free Report) last announced its earnings results on Wednesday, November 1st. The financial services provider reported $3.44 EPS for the quarter, beating analysts’ consensus estimates of $3.16 by $0.28. The company had revenue of $10.13 billion during the quarter, compared to the consensus estimate of $12.91 billion. Prudential Financial had a return on equity of 16.03% and a net margin of 1.21%. During the same quarter in the prior year, the company earned $2.13 earnings per share. As a group, equities analysts expect that Prudential Financial, Inc. will post 11.71 EPS for the current fiscal year.
Prudential Financial Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Tuesday, November 21st will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Monday, November 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.96%. Prudential Financial’s dividend payout ratio is presently 322.58%.
Wall Street Analysts Forecast Growth
PRU has been the subject of several recent analyst reports. Raymond James boosted their price objective on Prudential Financial from $125.00 to $132.00 and gave the stock a “strong-buy” rating in a report on Thursday. JPMorgan Chase & Co. cut their price objective on Prudential Financial from $121.00 to $119.00 and set an “overweight” rating for the company in a report on Friday, October 6th. TheStreet lowered Prudential Financial from a “b” rating to a “c” rating in a research note on Wednesday, November 1st. StockNews.com initiated coverage on Prudential Financial in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Prudential Financial in a research note on Wednesday, October 4th. They issued a “hold” rating and a $99.00 target price for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $103.70.
Check Out Our Latest Research Report on PRU
Insider Activity at Prudential Financial
In other Prudential Financial news, SVP Timothy L. Schmidt sold 8,281 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $94.49, for a total value of $782,471.69. Following the completion of the transaction, the senior vice president now owns 14,621 shares in the company, valued at $1,381,538.29. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.31% of the stock is owned by corporate insiders.
About Prudential Financial (Free Report)
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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