Twin Tree Management LP purchased a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,572 shares of the financial services provider’s stock, valued at approximately $494,000.
Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of 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 worth $3,437,330,000 after acquiring an additional 31,272,429 shares during the period. Vanguard Group Inc. boosted its stake 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 worth $3,229,469,000 after acquiring an additional 968,500 shares during the period. Acadian Asset Management LLC boosted its stake in shares of 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 worth $79,040,000 after acquiring an additional 698,835 shares during the period. Bank of Montreal Can boosted its stake 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 worth $157,097,000 after acquiring an additional 668,233 shares during the period. Finally, NN Investment Partners Holdings N.V. boosted its stake in shares of Prudential Financial by 558.9% in the first quarter. NN Investment Partners Holdings N.V. now owns 777,602 shares of the financial services provider’s stock worth $82,954,000 after acquiring an additional 659,595 shares during the period. 64.46% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently weighed in on PRU shares. Credit Suisse Group dropped their price objective on Prudential Financial from $121.00 to $120.00 and set a “neutral” rating for the company in a research note on Tuesday, May 23rd. ValuEngine raised Prudential Financial from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Wells Fargo & Company reaffirmed a “hold” rating on shares of Prudential Financial in a research note on Tuesday, June 6th. Zacks Investment Research lowered Prudential Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Finally, BidaskClub raised Prudential Financial from a “sell” rating to a “hold” rating in a research note on Friday, June 16th. Ten research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Prudential Financial presently has an average rating of “Buy” and a consensus price target of $111.49.
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Shares of Prudential Financial, Inc. (NYSE PRU) traded up 0.12% during midday trading on Friday, reaching $102.09. The company’s stock had a trading volume of 1,298,150 shares. The firm has a market cap of $43.59 billion, a price-to-earnings ratio of 11.40 and a beta of 1.49. The stock’s 50 day moving average price is $105.30 and its 200 day moving average price is $107.14. Prudential Financial, Inc. has a one year low of $78.50 and a one year high of $115.26.
Prudential Financial (NYSE:PRU) last issued its earnings results 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 company 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 quarter in the prior year, the firm earned $1.84 earnings per share. Analysts predict that Prudential Financial, Inc. will post $10.14 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Tuesday, August 22nd were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend was Friday, August 18th. Prudential Financial’s dividend payout ratio is currently 33.63%.
In related news, 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 value of $463,639.94. Following the transaction, the insider now directly owns 10,924 shares in the company, valued at $1,225,454.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the company’s stock in a transaction that occurred on 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 transaction, the chairman now owns 456,121 shares in the company, valued at $50,173,310. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 220,615 shares of company stock worth $24,276,660. 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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