Mengis Capital Management Inc. trimmed its holdings in shares of Prudential Financial Inc (NYSE:PRU) by 3.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,408 shares of the financial services provider’s stock after selling 1,175 shares during the period. Mengis Capital Management Inc.’s holdings in Prudential Financial were worth $2,970,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Joseph P. Lucia & Associates LLC bought a new position in Prudential Financial during the first quarter valued at about $25,000. Berman Capital Advisors LLC boosted its stake in Prudential Financial by 68.0% during the first quarter. Berman Capital Advisors LLC now owns 346 shares of the financial services provider’s stock valued at $31,000 after buying an additional 140 shares in the last quarter. Advisory Alpha LLC bought a new position in Prudential Financial during the first quarter valued at about $32,000. Somerset Trust Co boosted its stake in Prudential Financial by 276.4% during the first quarter. Somerset Trust Co now owns 414 shares of the financial services provider’s stock valued at $38,000 after buying an additional 304 shares in the last quarter. Finally, Rational Advisors LLC boosted its stake in Prudential Financial by 469.6% during the first quarter. Rational Advisors LLC now owns 450 shares of the financial services provider’s stock valued at $41,000 after buying an additional 371 shares in the last quarter. 63.04% of the stock is currently owned by institutional investors.

PRU has been the subject of several research reports. Deutsche Bank raised their target price on Prudential Financial from $97.00 to $104.00 and gave the company a “hold” rating in a research note on Friday, April 12th. Zacks Investment Research cut Haynes International from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. UBS Group set a $15.00 target price on Hain Celestial Group and gave the company a “sell” rating in a research note on Monday, May 13th. B. Riley set a $20.00 target price on AMC Entertainment and gave the company a “buy” rating in a research note on Wednesday, June 26th. Finally, Wells Fargo & Co set a $29.00 price target on Amphastar Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, June 6th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $110.59.

NYSE:PRU opened at $101.70 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.11 and a quick ratio of 0.11. Prudential Financial Inc has a 1-year low of $75.61 and a 1-year high of $106.64. The firm has a market cap of $41.93 billion, a price-to-earnings ratio of 8.70, a price-to-earnings-growth ratio of 0.90 and a beta of 1.49. The company has a fifty day moving average of $100.96.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $3.00 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.14 by ($0.14). Prudential Financial had a net margin of 6.18% and a return on equity of 9.87%. The company had revenue of $13.65 billion during the quarter, compared to analyst estimates of $13.74 billion. During the same quarter last year, the business earned $3.08 EPS. On average, analysts anticipate that Prudential Financial Inc will post 12.68 EPS for the current year.

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.

See Also: Sell-Side Analysts

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

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