Parametric Portfolio Associates LLC raised its holdings in Prudential Financial, Inc. (NYSE:PRU) by 71.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,307,082 shares of the financial services provider’s stock after buying an additional 544,185 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.30% of Prudential Financial worth $141,348,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Cambridge Investment Research Advisors Inc. grew its holdings in Prudential Financial by 25.3% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 21,649 shares of the financial services provider’s stock valued at $2,341,000 after buying an additional 4,372 shares during the period. Seizert Capital Partners LLC grew its holdings in Prudential Financial by 2.2% in the 2nd quarter. Seizert Capital Partners LLC now owns 114,414 shares of the financial services provider’s stock valued at $12,373,000 after buying an additional 2,421 shares during the period. Pacer Advisors Inc. grew its holdings in Prudential Financial by 8.3% in the 2nd quarter. Pacer Advisors Inc. now owns 9,822 shares of the financial services provider’s stock valued at $1,062,000 after buying an additional 754 shares during the period. IFM Investors Pty Ltd purchased a new stake in Prudential Financial in the 2nd quarter valued at about $1,256,000. Finally, Westpac Banking Corp grew its holdings in Prudential Financial by 103.7% in the 1st quarter. Westpac Banking Corp now owns 54,100 shares of the financial services provider’s stock valued at $5,100,000 after buying an additional 27,536 shares during the period. Institutional investors own 64.45% of the company’s stock.
Prudential Financial, Inc. (NYSE PRU) traded up 0.21% during trading on Friday, reaching $105.00. The company had a trading volume of 1,789,601 shares. Prudential Financial, Inc. has a 12 month low of $78.50 and a 12 month high of $115.26. The stock has a 50 day moving average of $104.48 and a 200-day moving average of $106.88. The company has a market capitalization of $44.84 billion, a P/E ratio of 11.72 and a beta of 1.49.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $2.09 EPS 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 the consensus estimate of $12.45 billion. During the same quarter in the prior year, the business posted $1.84 EPS. Equities research analysts expect that Prudential Financial, Inc. will post $10.14 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Tuesday, August 22nd were given a $0.75 dividend. The ex-dividend date of this dividend was Friday, August 18th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.86%. Prudential Financial’s dividend payout ratio is currently 33.63%.
In other Prudential Financial news, insider Nicholas C. Silitch sold 14,897 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $110.00, for a total value of $1,638,670.00. Following the completion of the sale, the insider now owns 21,274 shares in the company, valued at approximately $2,340,140. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 value of $463,639.94. Following the completion of the sale, the insider now 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 sold a total of 220,615 shares of company stock valued at $24,276,660 in the last quarter. Corporate insiders own 0.66% of the company’s stock.
Several analysts have commented on PRU shares. Royal Bank Of Canada restated a “hold” rating and issued a $117.00 price target on shares of Prudential Financial in a report on Wednesday, September 6th. ValuEngine upgraded Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. BidaskClub lowered Prudential Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Prudential Financial in a research note on Thursday, August 3rd. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Prudential Financial in a research note on Friday, August 11th. Ten equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $111.49.
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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