Keybank National Association OH raised its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 6.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 86,143 shares of the financial services provider’s stock after buying an additional 4,915 shares during the period. Keybank National Association OH’s holdings in Prudential Financial were worth $9,315,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in 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 valued at $3,437,330,000 after buying an additional 31,272,429 shares during the period. 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 valued at $3,229,469,000 after buying an additional 968,500 shares during the period. Old Mutual Global Investors UK Ltd. boosted its stake in Prudential Financial by 971,689.7% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 942,636 shares of the financial services provider’s stock valued at $100,560,000 after buying an additional 942,539 shares during the period. Acadian Asset Management LLC boosted its stake in Prudential Financial by 2,179.5% in the second quarter. Acadian Asset Management LLC now owns 730,899 shares of the financial services provider’s stock valued at $79,040,000 after buying an additional 698,835 shares during the period. Finally, Bank of Montreal Can boosted its stake in 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 buying an additional 668,233 shares during the period. Institutional investors own 64.44% of the company’s stock.
Prudential Financial, Inc. (NYSE PRU) opened at 101.32 on Wednesday. The stock has a 50 day moving average of $109.15 and a 200 day moving average of $107.92. The stock has a market cap of $43.26 billion, a P/E ratio of 11.31 and a beta of 1.50. Prudential Financial, Inc. has a 1-year low of $77.01 and a 1-year high of $115.26.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.70 by $0.61. The firm had revenue of $13.03 billion for the quarter, compared to analyst estimates of $12.45 billion. Prudential Financial had a return on equity of 8.98% and a net margin of 7.15%. During the same period in the previous year, the business posted $1.84 EPS. Equities analysts anticipate that Prudential Financial, Inc. will post $10.14 EPS for the current fiscal year.
The business also recently declared 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. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date is Friday, August 18th. Prudential Financial’s dividend payout ratio is currently 33.63%.
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Several brokerages recently issued reports on PRU. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Prudential Financial in a research note on Friday, August 11th. BidaskClub lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Prudential Financial in a research note on Thursday, August 3rd. 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, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $113.00 price objective on shares of Prudential Financial in a research note on Tuesday, June 27th. Ten investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $111.21.
In other Prudential Financial news, insider Nicholas C. Silitch sold 14,897 shares of Prudential Financial stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $110.00, for a total transaction of $1,638,670.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman John R. Strangfeld, Jr. sold 201,585 shares of Prudential Financial stock in a transaction on 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. In the last three months, insiders sold 220,615 shares of company stock valued at $24,276,660. 0.66% of the stock is currently owned by company insiders.
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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