Manchester Capital Management LLC Has $39,000 Stake in Prudential Financial Inc (PRU)
Manchester Capital Management LLC trimmed its holdings in shares of Prudential Financial Inc (NYSE:PRU) by 35.5% in the first quarter, HoldingsChannel.com reports. The fund owned 429 shares of the financial services provider’s stock after selling 236 shares during the quarter. Manchester Capital Management LLC’s holdings in Prudential Financial were worth $39,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in PRU. Oregon Public Employees Retirement Fund increased its position in shares of Prudential Financial by 8,297.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,932,559 shares of the financial services provider’s stock worth $146,000 after purchasing an additional 11,790,464 shares in the last quarter. Norges Bank acquired a new stake in shares of Prudential Financial during the 4th quarter worth about $632,295,000. Bessemer Group Inc. increased its position in shares of Prudential Financial by 15,678.7% during the 4th quarter. Bessemer Group Inc. now owns 1,143,482 shares of the financial services provider’s stock worth $93,251,000 after purchasing an additional 1,136,235 shares in the last quarter. Alps Advisors Inc. increased its position in shares of Prudential Financial by 2,198.0% during the 4th quarter. Alps Advisors Inc. now owns 475,874 shares of the financial services provider’s stock worth $38,808,000 after purchasing an additional 455,166 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Prudential Financial by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 5,129,191 shares of the financial services provider’s stock worth $417,519,000 after purchasing an additional 326,075 shares in the last quarter. 62.97% of the stock is owned by institutional investors.
In other Prudential Financial news, insider Nicholas C. Silitch sold 13,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $95.25, for a total value of $1,238,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.76% of the company’s stock.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $3.00 earnings per share for the quarter, missing the consensus estimate of $3.14 by ($0.14). The company had revenue of $13.65 billion during the quarter, compared to analyst estimates of $13.74 billion. Prudential Financial had a net margin of 6.18% and a return on equity of 9.87%. During the same quarter in the previous year, the business posted $3.08 EPS. As a group, equities research analysts forecast that Prudential Financial Inc will post 12.81 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, May 28th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 4.09%. The ex-dividend date is Friday, May 24th. Prudential Financial’s payout ratio is presently 34.22%.
A number of brokerages recently issued reports on PRU. Citigroup set a $112.00 target price on shares of Prudential Financial and gave the stock a “buy” rating in a research report on Thursday. UBS Group cut shares of Prudential Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $116.00 to $112.00 in a research report on Monday, May 13th. Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $113.00 target price for the company in a research report on Wednesday, May 8th. ValuEngine upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, Deutsche Bank raised their price objective on shares of Prudential Financial from $97.00 to $104.00 and gave the company a “hold” rating in a research report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Prudential Financial currently has a consensus rating of “Buy” and an average target price of $111.73.
Prudential Financial Company Profile
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.
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