Hancock Whitney Corp increased its holdings in shares of Prudential Financial Inc (NYSE:PRU) by 28.4% in the first quarter, Holdings Channel.com reports. The firm owned 40,087 shares of the financial services provider’s stock after purchasing an additional 8,869 shares during the quarter. Hancock Whitney Corp’s holdings in Prudential Financial were worth $2,091,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of PRU. Atlas Private Wealth Management bought a new stake in Prudential Financial during the 4th quarter worth approximately $26,000. Golden State Wealth Management LLC bought a new stake in Prudential Financial during the 1st quarter worth approximately $32,000. Legacy Bridge LLC bought a new position in shares of Prudential Financial during the 4th quarter worth approximately $33,000. Global Financial Private Capital Inc grew its stake in shares of Prudential Financial by 4,312.5% during the 4th quarter. Global Financial Private Capital Inc now owns 353 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 345 shares in the last quarter. Finally, WASHINGTON TRUST Co bought a new position in shares of Prudential Financial during the 1st quarter worth approximately $33,000. 63.37% of the stock is owned by institutional investors and hedge funds.
In other Prudential Financial news, SVP Nicholas C. Silitch sold 8,200 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $88.17, for a total value of $722,994.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.33% of the stock is currently owned by insiders.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.84 by ($0.52). Prudential Financial had a net margin of 5.16% and a return on equity of 7.13%. The business had revenue of $13.33 billion during the quarter, compared to analyst estimates of $14.81 billion. During the same period last year, the firm posted $3.00 earnings per share. Equities analysts anticipate that Prudential Financial Inc will post 9.2 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Tuesday, May 26th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 7.82%. The ex-dividend date of this dividend is Friday, May 22nd. Prudential Financial’s dividend payout ratio (DPR) is presently 37.64%.
Several equities analysts have recently weighed in on PRU shares. Credit Suisse Group reaffirmed a “hold” rating and set a $64.00 price target on shares of Prudential Financial in a research note on Wednesday, May 6th. JPMorgan Chase & Co. decreased their price target on shares of Prudential Financial from $108.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Wells Fargo & Co decreased their price target on shares of Prudential Financial from $67.00 to $62.00 and set an “equal weight” rating for the company in a research note on Thursday, May 7th. Morgan Stanley decreased their price target on shares of Prudential Financial from $102.00 to $64.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 17th. Finally, B. Riley decreased their price target on shares of Prudential Financial from $70.00 to $57.00 and set a “neutral” rating for the company in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $79.71.
About Prudential Financial
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.
Want to see what other hedge funds are holding PRU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prudential Financial Inc (NYSE:PRU).
Receive News & Ratings for Prudential Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial and related companies with MarketBeat.com's FREE daily email newsletter.