Torray LLC maintained its position in Prudential Financial, Inc. (NYSE:PRU) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,435 shares of the financial services provider’s stock at the end of the second quarter. Torray LLC’s holdings in Prudential Financial were worth $804,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of PRU. Korea Investment CORP boosted its position in Prudential Financial by 79.4% in the first quarter. Korea Investment CORP now owns 508,635 shares of the financial services provider’s stock valued at $54,261,000 after buying an additional 225,161 shares during the period. IFC Holdings Incorporated FL boosted its position in Prudential Financial by 6.6% in the first quarter. IFC Holdings Incorporated FL now owns 3,269 shares of the financial services provider’s stock valued at $348,000 after buying an additional 202 shares during the period. UMB Bank N A MO boosted its position in Prudential Financial by 9.3% in the first quarter. UMB Bank N A MO now owns 14,998 shares of the financial services provider’s stock valued at $1,600,000 after buying an additional 1,270 shares during the period. Sigma Planning Corp boosted its position in Prudential Financial by 0.3% in the first quarter. Sigma Planning Corp now owns 3,449 shares of the financial services provider’s stock valued at $368,000 after buying an additional 10 shares during the period. Finally, Mn Services Vermogensbeheer B.V. boosted its position in Prudential Financial by 1.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 11,468 shares of the financial services provider’s stock valued at $1,144,000 after buying an additional 156 shares during the period. Institutional investors own 63.58% of the company’s stock.
Prudential Financial, Inc. (NYSE:PRU) opened at 101.08 on Tuesday. Prudential Financial, Inc. has a one year low of $76.37 and a one year high of $115.26. The firm has a market cap of $43.16 billion, a PE ratio of 11.29 and a beta of 1.50. The stock has a 50 day moving average of $110.09 and a 200 day moving average of $108.07.
Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share for the quarter, missing analysts’ consensus estimates of $2.70 by $0.61. Prudential Financial had a return on equity of 8.98% and a net margin of 7.15%. The company had revenue of $13.03 billion for the quarter, compared to analyst estimates of $12.45 billion. During the same period in the previous year, the business posted $1.84 EPS. On average, equities analysts forecast that Prudential Financial, Inc. will post $10.18 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Tuesday, August 22nd will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Friday, August 18th. Prudential Financial’s payout ratio is currently 33.63%.
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Several research analysts have commented on the stock. Wells Fargo & Company reiterated a “hold” rating on shares of Prudential Financial in a report on Thursday, August 3rd. BidaskClub upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Credit Suisse Group reiterated a “hold” rating and set a $121.00 price target on shares of Prudential Financial in a report on Thursday, April 27th. Finally, ValuEngine upgraded shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Ten research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $111.21.
In other news, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $110.00, for a total transaction of $22,174,350.00. Following the completion of the sale, the chairman now owns 456,121 shares of the company’s stock, valued at $50,173,310. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen Pelletier sold 4,133 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $112.18, for a total transaction of $463,639.94. Following the sale, the insider now directly owns 10,924 shares of the company’s stock, valued at approximately $1,225,454.32. The disclosure for this sale can be found here. Insiders have sold 220,615 shares of company stock valued at $24,276,660 in the last three months. Corporate 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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