Wealthfront Advisers LLC Buys 18,389 Shares of Prudential Financial, Inc. $PRU

Key Points

• Wealthfront Advisers LLC increased its Prudential Financial stake by 22.8% in the first quarter, buying 18,389 additional shares and bringing its total holdings to 99,168 shares worth about $9.69 million.
• Prudential Financial posted stronger-than-expected quarterly results, reporting $3.61 EPS versus the $3.09 consensus and revenue of $15.23 billion, while also maintaining solid profitability metrics.
• The company recently paid a quarterly dividend of $1.40 per share, equal to a 4.7% annualized yield, while analysts currently have a mixed-to-cautious view with an average rating of “Reduce” and an average price target of $104.58.

Wealthfront Advisers LLC grew its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 22.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,168 shares of the financial services provider's stock after purchasing an additional 18,389 shares during the period. Wealthfront Advisers LLC's holdings in Prudential Financial were worth $9,688,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Sunflower Bank N.A. lifted its stake in shares of Prudential Financial by 3.2% in the fourth quarter. Sunflower Bank N.A. now owns 2,911 shares of the financial services provider's stock valued at $329,000 after buying an additional 91 shares during the period. Wetzel Investment Advisors Inc. raised its holdings in Prudential Financial by 0.9% in the 4th quarter. Wetzel Investment Advisors Inc. now owns 10,022 shares of the financial services provider's stock valued at $1,131,000 after acquiring an additional 94 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Prudential Financial by 0.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 28,795 shares of the financial services provider's stock worth $2,987,000 after acquiring an additional 97 shares during the period. Transcend Capital Advisors LLC grew its holdings in shares of Prudential Financial by 2.4% during the 4th quarter. Transcend Capital Advisors LLC now owns 4,175 shares of the financial services provider's stock worth $471,000 after purchasing an additional 98 shares in the last quarter. Finally, Rossby Financial LCC increased its position in shares of Prudential Financial by 32.4% during the fourth quarter. Rossby Financial LCC now owns 421 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 103 shares during the period. Institutional investors own 56.83% of the company's stock.

Prudential Financial Stock Up 0.7%

NYSE PRU opened at $119.05 on Friday. The stock has a market capitalization of $41.31 billion, a P/E ratio of 12.25, a price-to-earnings-growth ratio of 2.42 and a beta of 0.85. Prudential Financial, Inc. has a 52 week low of $91.89 and a 52 week high of $120.53. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a fifty day moving average of $107.27 and a 200-day moving average of $104.17.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, topping the consensus estimate of $3.09 by $0.52. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. The company had revenue of $15.23 billion during the quarter, compared to analysts' expectations of $14.10 billion. During the same quarter in the previous year, the company earned $3.29 EPS. On average, equities research analysts forecast that Prudential Financial, Inc. will post 13.74 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, May 26th were given a dividend of $1.40 per share. The ex-dividend date was Tuesday, May 26th. This represents a $5.60 annualized dividend and a dividend yield of 4.7%. Prudential Financial's payout ratio is presently 57.61%.

Analysts Set New Price Targets

Several research analysts recently commented on PRU shares. Argus cut Prudential Financial from a "buy" rating to a "hold" rating in a research report on Tuesday, June 9th. Keefe, Bruyette & Woods increased their price objective on shares of Prudential Financial from $106.00 to $113.00 and gave the company a "market perform" rating in a research note on Monday, July 13th. Weiss Ratings raised shares of Prudential Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday. Bank of America lowered their target price 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, Morgan Stanley restated an "underweight" rating and set a $92.00 price target (down from $106.00) on shares of Prudential Financial in a research note on Monday, May 4th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and an average target price of $104.58.

About Prudential Financial

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.

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