Quantitative Investment Management LLC increased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 520.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 72,000 shares of the financial services provider’s stock after buying an additional 60,400 shares during the quarter. Quantitative Investment Management LLC’s holdings in Prudential Financial were worth $7,786,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the stock. New York State Common Retirement Fund grew its stake in Prudential Financial by 4.8% during the 2nd quarter. New York State Common Retirement Fund now owns 1,337,339 shares of the financial services provider’s stock worth $144,620,000 after buying an additional 61,281 shares during the last quarter. Thrivent Financial For Lutherans lifted its position in Prudential Financial by 3.3% during the 2nd quarter. Thrivent Financial For Lutherans now owns 17,556 shares of the financial services provider’s stock worth $1,903,000 after acquiring an additional 555 shares during the period. PNC Financial Services Group Inc. lifted its position in Prudential Financial by 12.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 601,008 shares of the financial services provider’s stock worth $64,992,000 after acquiring an additional 67,482 shares during the period. BT Investment Management Ltd acquired a new stake in Prudential Financial during the 2nd quarter worth approximately $962,000. Finally, Amalgamated Bank lifted its position in Prudential Financial by 56.2% during the 2nd quarter. Amalgamated Bank now owns 48,236 shares of the financial services provider’s stock worth $5,216,000 after acquiring an additional 17,359 shares during the period. Hedge funds and other institutional investors own 64.45% of the company’s stock.
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In other Prudential Financial news, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $110.00, for a total value 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 approximately $50,173,310. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Pelletier sold 4,133 shares of the company’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. In the last quarter, insiders sold 220,615 shares of company stock worth $24,276,660. 0.66% of the stock is owned by company insiders.
Prudential Financial, Inc. (NYSE:PRU) opened at 106.32 on Friday. The firm has a market cap of $45.40 billion, a PE ratio of 11.87 and a beta of 1.49. The company has a 50 day moving average price of $104.48 and a 200 day moving average price of $106.88. Prudential Financial, Inc. has a 1-year low of $78.50 and a 1-year 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 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 for the quarter, compared to analyst estimates of $12.45 billion. During the same quarter in the prior year, the firm earned $1.84 earnings per share. On average, equities research analysts forecast that Prudential Financial, Inc. will post $10.14 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Tuesday, August 22nd were paid a $0.75 dividend. The ex-dividend date was Friday, August 18th. This represents a $3.00 dividend on an annualized basis and a yield of 2.82%. Prudential Financial’s dividend payout ratio (DPR) is currently 33.63%.
Several research firms have recently commented on PRU. BidaskClub raised Prudential Financial from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Prudential Financial in a report on Friday, August 11th. 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. Wells Fargo & Company reaffirmed a “hold” rating on shares of Prudential Financial in a report on Thursday, August 3rd. Finally, Zacks Investment Research cut Prudential Financial from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Ten analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $112.92.
Prudential Financial 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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