Stephens Inc. AR increased its position in Prudential Financial, Inc. (NYSE:PRU) by 7.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,536 shares of the financial services provider’s stock after purchasing an additional 315 shares during the quarter. Stephens Inc. AR’s holdings in Prudential Financial were worth $491,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hudock Capital Group LLC lifted its stake in shares of Prudential Financial by 0.7% in the 2nd quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 8 shares during the period. First Personal Financial Services lifted its stake in shares of Prudential Financial by 3.4% in the 1st quarter. First Personal Financial Services now owns 1,407 shares of the financial services provider’s stock valued at $150,000 after purchasing an additional 46 shares during the period. Guardian Life Insurance Co. of America lifted its stake in shares of Prudential Financial by 0.3% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,658 shares of the financial services provider’s stock valued at $177,000 after purchasing an additional 5 shares during the period. Accurate Investment Solutions Inc. lifted its stake in shares of Prudential Financial by 2.3% in the 2nd quarter. Accurate Investment Solutions Inc. now owns 1,664 shares of the financial services provider’s stock valued at $180,000 after purchasing an additional 38 shares during the period. Finally, Trust Co. of Vermont lifted its stake in shares of Prudential Financial by 28.5% in the 2nd quarter. Trust Co. of Vermont now owns 1,711 shares of the financial services provider’s stock valued at $185,000 after purchasing an additional 380 shares during the period. Institutional investors own 64.45% of the company’s stock.
A number of research analysts have recently commented on the company. Zacks Investment Research cut Prudential Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. BidaskClub upgraded Prudential Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Credit Suisse Group lowered their target price 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. Wells Fargo & Company restated a “hold” rating on shares of Prudential Financial in a research note on Tuesday, June 6th. Finally, Keefe, Bruyette & Woods restated a “buy” rating on shares of Prudential Financial in a research note on Friday, August 11th. Ten equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $111.49.
Shares of Prudential Financial, Inc. (PRU) opened at 104.31 on Wednesday. Prudential Financial, Inc. has a 12-month low of $78.50 and a 12-month high of $115.26. The firm has a 50 day moving average price of $104.48 and a 200-day moving average price of $106.88. The company has a market cap of $44.54 billion, a price-to-earnings ratio of 11.65 and a beta of 1.49.
Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.61). The company had revenue of $13.03 billion for the quarter, compared to analysts’ expectations 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 company earned $1.84 EPS. On average, equities analysts expect 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. Stockholders of record on Tuesday, August 22nd were issued a dividend of $0.75 per share. The ex-dividend date was Friday, August 18th. This represents a $3.00 annualized dividend and a dividend yield of 2.88%. Prudential Financial’s dividend payout ratio is presently 33.63%.
In other news, insider Stephen Pelletier sold 4,133 shares of the stock in a transaction 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 completion of the sale, the insider now owns 10,924 shares in the company, valued at approximately $1,225,454.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the stock in a transaction 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 sale, the chairman now 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 quarter, insiders have sold 220,615 shares of company stock valued at $24,276,660. Company insiders own 0.66% of the company’s stock.
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About Prudential Financial
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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