Great West Life Assurance Co. Can cut its position in Prudential Financial, Inc. (NYSE:PRU) by 3.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 700,732 shares of the financial services provider’s stock after selling 21,636 shares during the period. Great West Life Assurance Co. Can owned approximately 0.16% of Prudential Financial worth $75,635,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Prudential Financial by 3,296.9% in the first quarter. BlackRock Inc. now owns 32,220,957 shares of the financial services provider’s stock worth $3,437,330,000 after buying an additional 31,272,429 shares in the last quarter. Vanguard Group Inc. boosted its stake in Prudential Financial by 3.3% in the first quarter. Vanguard Group Inc. now owns 30,272,486 shares of the financial services provider’s stock worth $3,229,469,000 after buying an additional 968,500 shares during the period. Geode Capital Management LLC boosted its stake in Prudential Financial by 9.4% in the first quarter. Geode Capital Management LLC now owns 4,297,520 shares of the financial services provider’s stock worth $457,822,000 after buying an additional 368,321 shares during the period. Dimensional Fund Advisors LP boosted its stake in Prudential Financial by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,998,472 shares of the financial services provider’s stock worth $319,880,000 after buying an additional 81,327 shares during the period. Finally, Legal & General Group Plc boosted its stake in Prudential Financial by 1.7% in the first quarter. Legal & General Group Plc now owns 2,247,784 shares of the financial services provider’s stock worth $239,794,000 after buying an additional 38,540 shares during the period. Hedge funds and other institutional investors own 63.54% of the company’s stock.
Prudential Financial, Inc. (PRU) opened at 115.23 on Thursday. The stock’s 50 day moving average is $109.66 and its 200-day moving average is $107.87. Prudential Financial, Inc. has a 12 month low of $72.25 and a 12 month high of $115.26. The firm has a market cap of $49.43 billion, a price-to-earnings ratio of 11.69 and a beta of 1.50.
Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 EPS for the quarter, missing the consensus estimate of $2.70 by $0.61. Prudential Financial had a return on equity of 8.52% and a net margin of 7.78%. During the same quarter in the prior year, the company posted $1.84 EPS. On average, analysts anticipate that Prudential Financial, Inc. will post $10.67 earnings per share for the current fiscal year.
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A number of research firms have issued reports on PRU. Wells Fargo & Company restated a “hold” rating on shares of Prudential Financial in a report on Tuesday, June 6th. Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 price target for the company in a report on Tuesday, April 18th. BidaskClub cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Royal Bank Of Canada restated a “hold” rating and set a $113.00 price target on shares of Prudential Financial in a report on Tuesday, June 27th. Finally, Credit Suisse Group decreased their price target on shares of Prudential Financial from $121.00 to $120.00 and set a “neutral” rating for the company in a report on Tuesday, May 23rd. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $111.21.
In related news, insider Charles F. Lowrey sold 222,857 shares of Prudential Financial stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $108.04, for a total transaction of $24,077,470.28. Following the completion of the sale, the insider now owns 151,418 shares of the company’s stock, valued at approximately $16,359,200.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman John R. Strangfeld, Jr. sold 201,585 shares of Prudential Financial stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $110.00, for a total transaction of $22,174,350.00. Following the sale, the chairman now directly owns 456,121 shares of the company’s stock, valued at approximately $50,173,310. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.
About Prudential Financial
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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