Farmers & Merchants Investments Inc. reduced its position in Prudential Financial Inc (NYSE:PRU) by 20.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 841 shares of the financial services provider’s stock after selling 222 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Prudential Financial were worth $77,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. Norway Savings Bank raised its position in Prudential Financial by 13.6% in the fourth quarter. Norway Savings Bank now owns 958 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 115 shares in the last quarter. Van ECK Associates Corp increased its position in Prudential Financial by 2.0% during the 4th quarter. Van ECK Associates Corp now owns 6,223 shares of the financial services provider’s stock worth $507,000 after purchasing an additional 120 shares in the last quarter. Garland Capital Management Inc. increased its position in Prudential Financial by 0.3% during the 4th quarter. Garland Capital Management Inc. now owns 48,625 shares of the financial services provider’s stock worth $3,965,000 after purchasing an additional 125 shares in the last quarter. ACG Wealth increased its position in Prudential Financial by 2.3% during the 1st quarter. ACG Wealth now owns 5,500 shares of the financial services provider’s stock worth $505,000 after purchasing an additional 126 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its position in Prudential Financial by 2.0% during the 4th quarter. Stratos Wealth Partners LTD. now owns 7,096 shares of the financial services provider’s stock worth $579,000 after purchasing an additional 137 shares in the last quarter. 65.55% of the stock is owned by institutional investors and hedge funds.
PRU has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $113.00 price objective on shares of Prudential Financial in a research report on Wednesday, January 9th. UBS Group lifted their price objective on Prudential Financial from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Zacks Investment Research upgraded Prudential Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, February 12th. Deutsche Bank lifted their price objective on Prudential Financial from $97.00 to $104.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Finally, Evercore ISI upgraded Prudential Financial from an “in-line” rating to an “outperform” rating and set a $85.50 price objective for the company in a research report on Wednesday, January 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $112.21.
Shares of NYSE:PRU opened at $103.89 on Monday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.35. Prudential Financial Inc has a 12-month low of $75.61 and a 12-month high of $108.48. The stock has a market capitalization of $42.42 billion, a price-to-earnings ratio of 8.89, a price-to-earnings-growth ratio of 0.90 and a beta of 1.43.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, February 6th. The financial services provider reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.44). Prudential Financial had a return on equity of 10.20% and a net margin of 7.01%. The business had revenue of $17.78 billion during the quarter, compared to analyst estimates of $14.03 billion. During the same period in the previous year, the business posted $2.69 earnings per share. Sell-side analysts expect that Prudential Financial Inc will post 12.78 earnings per share for the current year.
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Prudential Financial Profile
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.
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