Leonteq Securities AG Raises Stock Position in Prudential Financial, Inc. $PRU

Leonteq Securities AG lifted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 186.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,634 shares of the financial services provider’s stock after buying an additional 5,616 shares during the period. Leonteq Securities AG’s holdings in Prudential Financial were worth $843,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PRU. Jessup Wealth Management Inc purchased a new position in Prudential Financial in the fourth quarter worth about $25,000. Garton & Associates Financial Advisors LLC purchased a new stake in Prudential Financial during the fourth quarter valued at approximately $26,000. Salomon & Ludwin LLC lifted its stake in shares of Prudential Financial by 98.3% in the 4th 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 position in shares of Prudential Financial in the 4th quarter worth approximately $28,000. Finally, Basepoint Wealth LLC bought a new position in shares of Prudential Financial during the 4th quarter valued at approximately $30,000. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

PRU opened at $112.83 on Friday. The business has a fifty day moving average of $103.68 and a 200 day moving average of $104.15. The stock has a market cap of $39.15 billion, a P/E ratio of 11.61, a PEG ratio of 2.06 and a beta of 0.85. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. Prudential Financial, Inc. has a 52-week low of $91.89 and a 52-week high of $119.76.

Prudential Financial (NYSE:PRU) last released its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.52. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.The business had revenue of $15.23 billion for the quarter, compared to analyst estimates of $14.10 billion. During the same quarter last year, the firm posted $3.29 earnings per share. As a group, sell-side analysts anticipate that Prudential Financial, Inc. will post 13.81 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, May 26th were issued a dividend of $1.40 per share. The ex-dividend date was Tuesday, May 26th. This represents a $5.60 dividend on an annualized basis and a yield of 5.0%. Prudential Financial’s dividend payout ratio (DPR) is presently 57.61%.

Analysts Set New Price Targets

Several research firms recently weighed in on PRU. Zacks Research upgraded Prudential Financial from a “strong sell” rating to a “hold” rating in a report on Friday, June 12th. Weiss Ratings upgraded shares of Prudential Financial from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 12th. Mizuho raised their target price on shares of Prudential Financial from $96.00 to $101.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Jefferies Financial Group cut shares of Prudential Financial from a “buy” rating to a “hold” rating and dropped their price target for the stock from $124.00 to $98.00 in a research note on Wednesday, April 22nd. Finally, Bank of America cut their price target on shares of Prudential Financial from $112.00 to $104.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. Eleven investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, Prudential Financial currently has a consensus rating of “Reduce” and an average price target of $101.92.

Prudential Financial 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.