Seven Eight Capital LP lessened its stake in Prudential Financial, Inc. (NYSE:PRU) by 71.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,551 shares of the financial services provider’s stock after selling 16,400 shares during the period. Seven Eight Capital LP’s holdings in Prudential Financial were worth $708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Prudential Financial by 3,296.9% during 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 during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Prudential Financial by 3.3% during 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 purchasing an additional 968,500 shares during the period. AJO LP increased its stake in Prudential Financial by 42.8% in the 2nd quarter. AJO LP now owns 2,743,406 shares of the financial services provider’s stock valued at $296,672,000 after buying an additional 821,881 shares during the period. Acadian Asset Management LLC raised its position in Prudential Financial by 2,179.5% during the 2nd quarter. Acadian Asset Management LLC now owns 730,899 shares of the financial services provider’s stock worth $79,040,000 after buying an additional 698,835 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of Prudential Financial by 85.2% in the second quarter. Bank of Montreal Can now owns 1,452,721 shares of the financial services provider’s stock valued at $157,097,000 after acquiring an additional 668,233 shares in the last quarter. 64.45% of the stock is owned by institutional investors and hedge funds.
Shares of Prudential Financial, Inc. (NYSE PRU) traded up 0.30% on Friday, hitting $106.32. The company’s stock had a trading volume of 1,227,301 shares. Prudential Financial, Inc. has a 52 week low of $80.44 and a 52 week high of $115.26. The stock has a market capitalization of $45.40 billion, a P/E ratio of 11.87 and a beta of 1.49. The stock’s 50 day moving average price is $104.48 and its 200 day moving average price is $106.88.
Prudential Financial (NYSE:PRU) last released 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). The firm had revenue of $13.03 billion during the quarter, compared to the consensus estimate of $12.45 billion. Prudential Financial had a net margin of 7.15% and a return on equity of 8.98%. During the same period in the prior year, the business earned $1.84 earnings per share. On average, analysts forecast that Prudential Financial, Inc. will post $10.14 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Tuesday, August 22nd were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend was Friday, August 18th. Prudential Financial’s dividend payout ratio (DPR) is presently 33.63%.
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PRU has been the subject of several recent analyst reports. Royal Bank Of Canada reissued a “hold” rating and issued a $117.00 price target on shares of Prudential Financial in a report on Wednesday, September 6th. BidaskClub lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Wells Fargo & Company reissued a “hold” rating on shares of Prudential Financial in a report on Thursday, August 3rd. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Prudential Financial in a research note on Friday, August 11th. Finally, Zacks Investment Research lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. Ten research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $112.92.
In other Prudential Financial news, insider Nicholas C. Silitch sold 14,897 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 21,274 shares of the company’s stock, valued at approximately $2,340,140. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Stephen Pelletier sold 4,133 shares of Prudential Financial stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $112.18, for a total value of $463,639.94. Following the sale, the insider now directly owns 10,924 shares in the company, valued at $1,225,454.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 220,615 shares of company stock worth $24,276,660. Company insiders own 0.66% of the company’s stock.
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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