Sterling Capital Management LLC Has $1.23 Million Stock Position in Prudential Financial, Inc. $PRU

Sterling Capital Management LLC cut its holdings in Prudential Financial, Inc. (NYSE:PRU) by 41.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,574 shares of the financial services provider’s stock after selling 8,982 shares during the quarter. Sterling Capital Management LLC’s holdings in Prudential Financial were worth $1,228,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of PRU. Jessup Wealth Management Inc bought a new position in shares of Prudential Financial in the fourth quarter worth about $25,000. Garton & Associates Financial Advisors LLC acquired a new position in Prudential Financial during the 4th quarter worth approximately $26,000. Salomon & Ludwin LLC lifted its stake in 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 acquired a new stake in Prudential Financial in the fourth quarter valued at approximately $28,000. Finally, Coston McIsaac & Partners grew its stake 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 worth $29,000 after buying an additional 128 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Performance

NYSE PRU opened at $109.18 on Tuesday. The company has a market capitalization of $37.89 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 1.97 and a beta of 0.86. Prudential Financial, Inc. has a twelve month low of $91.89 and a twelve month high of $119.76. The stock has a fifty day simple moving average of $102.70 and a 200 day simple moving average of $104.21. 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 (NYSE:PRU) last released its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.52. The firm had revenue of $15.23 billion for the quarter, compared to analyst estimates of $14.10 billion. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.During the same quarter in the previous year, the company posted $3.29 EPS. Sell-side analysts expect that Prudential Financial, Inc. will post 13.81 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders 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 annualized dividend and a yield of 5.1%. Prudential Financial’s dividend payout ratio (DPR) is presently 57.61%.

Analysts Set New Price Targets

A number of research analysts have recently commented on PRU shares. Mizuho increased their price target on Prudential Financial from $96.00 to $101.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Jefferies Financial Group cut Prudential Financial from a “buy” rating to a “hold” rating and lowered their target price for the stock from $124.00 to $98.00 in a report on Wednesday, April 22nd. Barclays increased their target price on Prudential Financial from $89.00 to $90.00 and gave the company an “underweight” rating in a research report on Wednesday, May 6th. Bank of America reduced their price target on Prudential Financial from $112.00 to $104.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $92.00 price objective (down from $106.00) on shares of Prudential Financial in a report on Monday, May 4th. 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 MarketBeat.com, the company has an average 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.