Garde Capital Inc. maintained its stake in Prudential Financial, Inc. (NYSE:PRU) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,120 shares of the financial services provider’s stock at the end of the first quarter. Garde Capital Inc.’s holdings in Prudential Financial were worth $226,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. BlackRock Inc. boosted its position 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 last quarter. Vanguard Group Inc. raised its position in shares of 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. Geode Capital Management LLC raised its stake in Prudential Financial by 9.4% in the first quarter. Geode Capital Management LLC now owns 4,297,520 shares of the financial services provider’s stock valued at $457,822,000 after buying an additional 368,321 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Prudential Financial by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,998,472 shares of the financial services provider’s stock valued at $319,880,000 after buying an additional 81,327 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in Prudential Financial by 1.7% in the first quarter. Legal & General Group Plc now owns 2,247,784 shares of the financial services provider’s stock valued at $239,794,000 after buying an additional 38,540 shares during the last quarter. 63.51% of the stock is currently owned by institutional investors.
Shares of Prudential Financial, Inc. (NYSE PRU) traded down 0.19% during midday trading on Tuesday, hitting $111.48. 1,337,115 shares of the stock were exchanged. The firm has a market cap of $47.94 billion, a PE ratio of 12.20 and a beta of 1.50. Prudential Financial, Inc. has a 12-month low of $74.85 and a 12-month high of $115.26. The firm has a 50-day moving average price of $110.05 and a 200 day moving average price of $107.97.
Prudential Financial (NYSE:PRU) last posted 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. The company had revenue of $13.03 billion for the quarter, compared to analyst estimates 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 company earned $1.84 EPS. Analysts predict that Prudential Financial, Inc. will post $10.33 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders 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 yield of 2.69%. Prudential Financial’s dividend payout ratio is presently 33.63%.
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A number of analysts have recently weighed in on PRU shares. Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 target price for the company in a report on Tuesday, April 18th. Deutsche Bank AG raised their target price on shares of Prudential Financial from $114.00 to $117.00 and gave the company a “buy” rating in a research note on Wednesday, April 19th. Credit Suisse Group reiterated a “hold” rating and set a $121.00 price target on shares of Prudential Financial in a report on Thursday, April 27th. Wells Fargo & Company reiterated a “hold” rating on shares of Prudential Financial in a research note on Thursday, May 4th. Finally, ValuEngine upgraded shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Prudential Financial has an average rating of “Buy” and an average target price of $111.21.
In other news, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the stock in a transaction that occurred 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 completion of the transaction, the chairman now directly owns 456,121 shares in the company, valued at approximately $50,173,310. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate 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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