Parametric Portfolio Associates LLC Acquires 78,340 Shares of Prudential Financial Inc (PRU)
Parametric Portfolio Associates LLC raised its holdings in shares of Prudential Financial Inc (NYSE:PRU) by 5.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,469,176 shares of the financial services provider’s stock after acquiring an additional 78,340 shares during the period. Parametric Portfolio Associates LLC’s holdings in Prudential Financial were worth $134,988,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Van ECK Associates Corp grew its holdings in shares of Prudential Financial by 2.0% in the fourth quarter. Van ECK Associates Corp now owns 6,223 shares of the financial services provider’s stock worth $507,000 after purchasing an additional 120 shares during the last quarter. Garland Capital Management Inc. grew its holdings in shares of Prudential Financial by 0.3% in the fourth quarter. Garland Capital Management Inc. now owns 48,625 shares of the financial services provider’s stock worth $3,965,000 after purchasing an additional 125 shares during the last quarter. ACG Wealth grew its holdings in shares of Prudential Financial by 2.3% in the first quarter. ACG Wealth now owns 5,500 shares of the financial services provider’s stock worth $505,000 after purchasing an additional 126 shares during the last quarter. Stratos Wealth Partners LTD. grew its holdings in shares of Prudential Financial by 2.0% in the fourth quarter. Stratos Wealth Partners LTD. now owns 7,096 shares of the financial services provider’s stock worth $579,000 after purchasing an additional 137 shares during the last quarter. Finally, Kaizen Advisory LLC grew its holdings in shares of Prudential Financial by 13.7% in the fourth quarter. Kaizen Advisory LLC now owns 1,147 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 138 shares during the last quarter. Institutional investors and hedge funds own 62.97% of the company’s stock.
In related news, insider Nicholas C. Silitch sold 13,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $95.25, for a total value of $1,238,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.76% of the company’s stock.
PRU stock traded up $1.62 on Friday, reaching $97.75. The company’s stock had a trading volume of 1,535,605 shares, compared to its average volume of 2,102,725. Prudential Financial Inc has a 12-month low of $75.61 and a 12-month high of $106.64. The firm has a market capitalization of $39.69 billion, a price-to-earnings ratio of 8.36, a PEG ratio of 0.87 and a beta of 1.48. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.33.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $3.00 EPS for the quarter, missing analysts’ consensus estimates of $3.14 by ($0.14). Prudential Financial had a return on equity of 9.87% and a net margin of 6.18%. The business had revenue of $13.65 billion during the quarter, compared to analysts’ expectations of $13.74 billion. During the same period in the previous year, the business earned $3.08 EPS. Equities research analysts anticipate that Prudential Financial Inc will post 12.81 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, May 28th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend is Friday, May 24th. Prudential Financial’s payout ratio is 34.22%.
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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.
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