BlackRock Inc. raised its holdings in Prudential Financial, Inc. (NYSE:PRU) by 2.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,155,309 shares of the financial services provider’s stock after purchasing an additional 934,352 shares during the quarter. BlackRock Inc. owned about 7.73% of Prudential Financial worth $3,585,415,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Comerica Securities Inc. increased its stake in Prudential Financial by 6.4% in the second quarter. Comerica Securities Inc. now owns 3,434 shares of the financial services provider’s stock valued at $371,000 after purchasing an additional 206 shares during the period. Courier Capital LLC increased its stake in Prudential Financial by 5.9% in the second quarter. Courier Capital LLC now owns 6,774 shares of the financial services provider’s stock valued at $733,000 after purchasing an additional 380 shares during the period. Captrust Financial Advisors acquired a new position in Prudential Financial in the second quarter valued at $1,545,000. Norinchukin Bank The increased its stake in Prudential Financial by 118.6% in the second quarter. Norinchukin Bank The now owns 33,043 shares of the financial services provider’s stock valued at $3,573,000 after purchasing an additional 17,930 shares during the period. Finally, Bridgewater Associates LP acquired a new position in Prudential Financial in the second quarter valued at $931,000. Institutional investors own 64.46% of the company’s stock.
In related news, insider Nicholas C. Silitch sold 14,897 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $110.00, for a total value of $1,638,670.00. Following the sale, the insider now owns 21,274 shares of the company’s stock, valued at approximately $2,340,140. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the 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 completion of the sale, the chairman now directly owns 456,121 shares in the company, valued at approximately $50,173,310. The disclosure for this sale can be found here. In the last ninety days, insiders sold 220,615 shares of company stock worth $24,276,660. Corporate insiders own 0.66% of the company’s stock.
PRU has been the topic of a number of recent research reports. Credit Suisse Group dropped their price objective on shares of Prudential Financial from $121.00 to $120.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 23rd. ValuEngine upgraded shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Wells Fargo & Company restated a “hold” rating on shares of Prudential Financial in a research note on Tuesday, June 6th. Zacks Investment Research lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Finally, BidaskClub upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a research note on Friday, June 16th. Ten analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Prudential Financial currently has a consensus rating of “Buy” and a consensus target price of $111.49.
Prudential Financial, Inc. (PRU) traded down 0.18% during mid-day trading on Thursday, reaching $102.18. 522,947 shares of the company were exchanged. The stock has a market capitalization of $43.63 billion, a P/E ratio of 11.41 and a beta of 1.49. The company’s 50 day moving average price is $105.91 and its 200-day moving average price is $107.21. Prudential Financial, Inc. has a 12 month low of $78.37 and a 12 month high of $115.26.
Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.70 by ($0.61). Prudential Financial had a return on equity of 8.98% and a net margin of 7.15%. The firm had revenue of $13.03 billion during the quarter, compared to analyst estimates of $12.45 billion. During the same period last year, the business earned $1.84 EPS. On average, equities analysts expect that Prudential Financial, Inc. will post $10.13 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Tuesday, August 22nd will be issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.93%. Prudential Financial’s dividend payout ratio (DPR) is presently 33.63%.
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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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