Dai Ichi Life Insurance Company Ltd reduced its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 29.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,914 shares of the financial services provider’s stock after selling 55,849 shares during the period. Dai Ichi Life Insurance Company Ltd’s holdings in Prudential Financial were worth $14,393,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in PRU. Victory Capital Management Inc. raised its stake in Prudential Financial by 13.4% in the first quarter. Victory Capital Management Inc. now owns 57,788 shares of the financial services provider’s stock valued at $6,165,000 after buying an additional 6,831 shares in the last quarter. Wayne Hummer Investments L.L.C. bought a new stake in Prudential Financial during the first quarter valued at $294,000. Stifel Financial Corp raised its stake in Prudential Financial by 8.2% in the first quarter. Stifel Financial Corp now owns 83,757 shares of the financial services provider’s stock valued at $8,942,000 after buying an additional 6,381 shares in the last quarter. Ronald Blue & Co. LLC bought a new stake in Prudential Financial during the first quarter valued at $205,000. Finally, KBC Group NV raised its stake in Prudential Financial by 36.2% in the first quarter. KBC Group NV now owns 475,570 shares of the financial services provider’s stock valued at $50,734,000 after buying an additional 126,506 shares in the last quarter. Institutional investors own 62.99% of the company’s stock.

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

Prudential Financial, Inc. (NYSE:PRU) opened at 107.71 on Friday. The stock has a market capitalization of $46.21 billion, a P/E ratio of 10.93 and a beta of 1.49. Prudential Financial, Inc. has a 12-month low of $66.51 and a 12-month high of $114.55. The firm’s 50-day moving average is $106.50 and its 200-day moving average is $106.71.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, May 3rd. The financial services provider reported $2.79 EPS for the quarter, topping the consensus estimate of $2.64 by $0.15. Prudential Financial had a return on equity of 8.52% and a net margin of 7.78%. The company had revenue of $13.24 billion during the quarter, compared to the consensus estimate of $12.75 billion. During the same period last year, the company earned $2.18 EPS. Analysts predict that Prudential Financial, Inc. will post $10.65 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Tuesday, May 23rd were given a $0.75 dividend. The ex-dividend date of this dividend was Friday, May 19th. This represents a $3.00 annualized dividend and a yield of 2.79%. Prudential Financial’s payout ratio is 30.46%.

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Several analysts have recently weighed in on the stock. BidaskClub upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a research note on Friday. Zacks Investment Research lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Wednesday. Wells Fargo & Company reiterated a “hold” rating on shares of Prudential Financial in a research note on Tuesday, June 6th. ValuEngine upgraded shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Finally, Credit Suisse Group lowered their price objective on shares of Prudential Financial from $121.00 to $120.00 and set a “neutral” rating for the company in a research note on Tuesday, May 23rd. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $108.84.

In other news, insider Charles F. Lowrey sold 222,857 shares of Prudential Financial stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $108.04, for a total transaction of $24,077,470.28. Following the transaction, the insider now directly owns 151,418 shares of the company’s stock, valued at approximately $16,359,200.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.66% of the company’s stock.

Prudential Financial Company Profile

Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.

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