Delta Capital Management LLC Increases Position in Prudential Financial Inc (PRU)

Delta Capital Management LLC boosted its position in Prudential Financial Inc (NYSE:PRU) by 70.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 46,152 shares of the financial services provider’s stock after acquiring an additional 19,035 shares during the period. Prudential Financial accounts for approximately 2.7% of Delta Capital Management LLC’s portfolio, making the stock its 12th largest holding. Delta Capital Management LLC’s holdings in Prudential Financial were worth $4,240,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Norway Savings Bank increased its position in shares of Prudential Financial by 13.6% during the fourth quarter. Norway Savings Bank now owns 958 shares of the financial services provider’s stock valued at $78,000 after buying an additional 115 shares during the period. Van ECK Associates Corp increased its position in shares of Prudential Financial by 2.0% during the fourth quarter. Van ECK Associates Corp now owns 6,223 shares of the financial services provider’s stock valued at $507,000 after buying an additional 120 shares during the period. Garland Capital Management Inc. increased its position in shares of Prudential Financial by 0.3% during the fourth quarter. Garland Capital Management Inc. now owns 48,625 shares of the financial services provider’s stock valued at $3,965,000 after buying an additional 125 shares during the period. Stratos Wealth Partners LTD. increased its position in shares of Prudential Financial by 2.0% during the fourth quarter. Stratos Wealth Partners LTD. now owns 7,096 shares of the financial services provider’s stock valued at $579,000 after buying an additional 137 shares during the period. Finally, Kaizen Advisory LLC increased its position in shares of Prudential Financial by 13.7% during the fourth quarter. Kaizen Advisory LLC now owns 1,147 shares of the financial services provider’s stock valued at $94,000 after buying an additional 138 shares during the period. Institutional investors and hedge funds own 65.60% of the company’s stock.

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods reissued a “buy” rating and set a $115.00 price objective on shares of Prudential Financial in a report on Monday, December 17th. Zacks Investment Research reissued a “sell” rating on shares of Prudential Financial in a report on Monday, December 31st. Wells Fargo & Co assumed coverage on Prudential Financial in a report on Tuesday, January 8th. They set an “outperform” rating and a $105.00 price objective for the company. Evercore ISI raised Prudential Financial from an “in-line” rating to an “outperform” rating and set a $85.50 price objective for the company in a report on Wednesday, January 9th. Finally, UBS Group boosted their price objective on Prudential Financial from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $112.21.

PRU traded up $1.05 during midday trading on Tuesday, hitting $102.39. The stock had a trading volume of 25,956 shares, compared to its average volume of 2,039,509. The firm has a market cap of $41.81 billion, a P/E ratio of 8.77, a P/E/G ratio of 0.89 and a beta of 1.43. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.14 and a quick ratio of 0.14. Prudential Financial Inc has a 1 year low of $75.61 and a 1 year high of $108.92.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, February 6th. The financial services provider reported $2.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.88 by ($0.44). The firm had revenue of $17.78 billion during the quarter, compared to analysts’ expectations of $14.03 billion. Prudential Financial had a return on equity of 10.20% and a net margin of 7.01%. During the same period in the prior year, the company earned $2.69 EPS. On average, equities analysts anticipate that Prudential Financial Inc will post 12.68 earnings per share for the current year.

In other Prudential Financial news, insider Nicholas C. Silitch sold 13,000 shares of the company’s stock in a transaction that occurred 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 link. Also, EVP Stephen Pelletier sold 6,532 shares of the company’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $94.14, for a total value of $614,922.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,538 shares of company stock valued at $4,298,777. 0.76% of the stock is owned by insiders.

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Prudential Financial 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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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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