Prudential Financial, Inc. $PRU Holdings Raised by Raiffeisen Bank International AG

Raiffeisen Bank International AG grew its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 16.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 99,441 shares of the financial services provider’s stock after purchasing an additional 14,061 shares during the period. Raiffeisen Bank International AG’s holdings in Prudential Financial were worth $11,305,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Jessup Wealth Management Inc purchased a new stake in shares of Prudential Financial during the fourth quarter valued at $25,000. Salomon & Ludwin LLC lifted its holdings in shares of Prudential Financial by 98.3% during 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 last quarter. Lodestone Wealth Management LLC purchased a new stake in shares of Prudential Financial during the fourth quarter valued at $28,000. Basepoint Wealth LLC purchased a new stake in shares of Prudential Financial during the fourth quarter valued at $30,000. Finally, Coston McIsaac & Partners lifted its holdings in shares of Prudential Financial by 93.4% during 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 last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Stock Performance

Shares of PRU stock opened at $106.52 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a fifty-two week low of $91.89 and a fifty-two week high of $119.76. The stock’s 50-day moving average is $100.32 and its two-hundred day moving average is $104.32. The firm has a market cap of $36.96 billion, a P/E ratio of 10.96, a PEG ratio of 1.91 and a beta of 0.86.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.52. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.The company had revenue of $15.23 billion for the quarter, compared to analyst estimates of $14.10 billion. During the same period in the prior year, the firm posted $3.29 EPS. Analysts predict that Prudential Financial, Inc. will post 13.84 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, May 26th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend was Tuesday, May 26th. Prudential Financial’s dividend payout ratio is presently 57.61%.

Wall Street Analysts Forecast Growth

PRU has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on Prudential Financial from $93.00 to $100.00 and gave the stock an “underweight” rating in a research note on Tuesday, May 12th. Mizuho increased their price objective on Prudential Financial from $96.00 to $101.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Weiss Ratings downgraded Prudential Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 13th. UBS Group reduced their price objective on Prudential Financial from $105.00 to $98.00 and set a “neutral” rating for the company in a research note on Thursday, April 9th. Finally, Bank of America reduced their price objective on Prudential Financial from $112.00 to $104.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. Ten equities research analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus 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.