Prudential Financial, Inc. $PRU Shares Purchased by Interval Partners LP

Interval Partners LP increased its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 473.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 303,102 shares of the financial services provider’s stock after acquiring an additional 250,202 shares during the quarter. Interval Partners LP owned about 0.09% of Prudential Financial worth $34,214,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Jessup Wealth Management Inc acquired a new position in Prudential Financial in the fourth quarter valued at $25,000. Salomon & Ludwin LLC increased its stake in Prudential Financial by 98.3% in the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 114 shares during the period. Lodestone Wealth Management LLC acquired a new position in Prudential Financial in the fourth quarter valued at $28,000. Coston McIsaac & Partners increased its stake in Prudential Financial by 93.4% in the fourth quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 128 shares during the period. Finally, Basepoint Wealth LLC acquired a new position in Prudential Financial in the fourth quarter valued at $30,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Trading Down 1.9%

Shares of Prudential Financial stock opened at $107.06 on Thursday. Prudential Financial, Inc. has a 52-week low of $91.89 and a 52-week high of $119.76. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The company’s 50-day simple moving average is $101.16 and its 200-day simple moving average is $104.33. The firm has a market cap of $37.15 billion, a price-to-earnings ratio of 11.01, a price-to-earnings-growth ratio of 1.98 and a beta of 0.86.

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 analysts’ consensus estimates 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 analyst estimates of $14.10 billion. During the same period in the previous year, the business posted $3.29 earnings per share. As a group, equities research analysts anticipate that Prudential Financial, Inc. will post 13.86 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, May 26th were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date was Tuesday, May 26th. Prudential Financial’s payout ratio is 57.61%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Evercore restated a “negative” rating on shares of Prudential Financial in a research note on Friday, March 6th. Argus lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, June 9th. UBS Group dropped their price objective on shares of Prudential Financial from $105.00 to $98.00 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. Bank of America dropped their price objective on shares of Prudential Financial from $112.00 to $104.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Finally, Zacks Research upgraded shares of Prudential Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, June 12th. Eleven research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $101.50.

Prudential Financial Company 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.