Trust Investment Advisors Grows Position in Prudential Financial, Inc. (NYSE:PRU)

Trust Investment Advisors increased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 5.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,160 shares of the financial services provider’s stock after buying an additional 589 shares during the quarter. Trust Investment Advisors’ holdings in Prudential Financial were worth $985,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PRU. Woodward Diversified Capital LLC grew its stake in shares of Prudential Financial by 1.9% in the 2nd quarter. Woodward Diversified Capital LLC now owns 5,830 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 108 shares during the last quarter. PFG Private Wealth Management LLC grew its stake in shares of Prudential Financial by 6.6% in the 2nd quarter. PFG Private Wealth Management LLC now owns 1,794 shares of the financial services provider’s stock valued at $158,000 after purchasing an additional 111 shares during the last quarter. CWM LLC grew its stake in shares of Prudential Financial by 1.3% in the 1st quarter. CWM LLC now owns 9,269 shares of the financial services provider’s stock valued at $767,000 after purchasing an additional 118 shares during the last quarter. Northwest Bancshares Inc. grew its stake in shares of Prudential Financial by 3.2% in the 2nd quarter. Northwest Bancshares Inc. now owns 3,888 shares of the financial services provider’s stock valued at $343,000 after purchasing an additional 119 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC grew its stake in shares of Prudential Financial by 5.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,451 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 54.92% of the company’s stock.

Wall Street Analysts Forecast Growth

PRU has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on Prudential Financial in a research note on Wednesday, October 4th. They issued a “hold” rating and a $99.00 target price on the stock. StockNews.com assumed coverage on Prudential Financial in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. decreased their price target on Prudential Financial from $121.00 to $119.00 and set an “overweight” rating on the stock in a research note on Friday, October 6th. Wells Fargo & Company lifted their price target on Prudential Financial from $89.00 to $92.00 and gave the company an “underweight” rating in a research note on Tuesday, August 15th. Finally, Raymond James upgraded Prudential Financial from a “market perform” rating to a “strong-buy” rating and set a $125.00 price target on the stock in a research note on Thursday, August 24th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and an average target price of $103.00.

Prudential Financial Price Performance

PRU stock traded up $1.12 during midday trading on Friday, hitting $95.75. 1,776,053 shares of the stock were exchanged, compared to its average volume of 1,639,805. The stock’s 50-day moving average price is $93.77 and its 200-day moving average price is $90.55. The stock has a market cap of $34.57 billion, a price-to-earnings ratio of 61.77, a PEG ratio of 0.77 and a beta of 1.39. Prudential Financial, Inc. has a fifty-two week low of $75.37 and a fifty-two week high of $108.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.07 and a current ratio of 0.07.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.44 earnings per share for the quarter, topping analysts’ consensus estimates of $3.16 by $0.28. Prudential Financial had a return on equity of 16.03% and a net margin of 1.21%. The company had revenue of $10.13 billion during the quarter, compared to analysts’ expectations of $12.91 billion. During the same period in the previous year, the firm posted $2.13 earnings per share. Research analysts predict that Prudential Financial, Inc. will post 11.71 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Tuesday, November 21st will be issued a $1.25 dividend. The ex-dividend date of this dividend is Monday, November 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 5.22%. Prudential Financial’s dividend payout ratio (DPR) is 322.58%.

Prudential Financial Profile

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, and International Businesses segments.