Alps Advisors Inc. grew its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 18.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,366 shares of the financial services provider’s stock after purchasing an additional 1,159 shares during the quarter. Alps Advisors Inc.’s holdings in Prudential Financial were worth $783,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of PRU. APG Asset Management N.V. lifted its stake in shares of Prudential Financial by 171.8% during the third quarter. APG Asset Management N.V. now owns 2,704,719 shares of the financial services provider’s stock worth $287,566,000 after purchasing an additional 1,709,699 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Prudential Financial by 1,997.1% during the second quarter. Janus Henderson Group PLC now owns 1,204,160 shares of the financial services provider’s stock worth $130,218,000 after purchasing an additional 1,146,739 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Prudential Financial by 2.9% during the second quarter. BlackRock Inc. now owns 33,155,309 shares of the financial services provider’s stock worth $3,585,415,000 after purchasing an additional 934,352 shares in the last quarter. AJO LP lifted its stake in shares of Prudential Financial by 42.8% during the second quarter. AJO LP now owns 2,743,406 shares of the financial services provider’s stock worth $296,672,000 after purchasing an additional 821,881 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Prudential Financial by 48.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,247,204 shares of the financial services provider’s stock worth $243,013,000 after purchasing an additional 737,458 shares in the last quarter. Institutional investors own 64.48% of the company’s stock.
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Shares of Prudential Financial, Inc. (NYSE:PRU) traded down $0.88 during trading on Wednesday, reaching $109.56. The company had a trading volume of 1,794,500 shares, compared to its average volume of 1,856,361. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.13 and a current ratio of 0.13. The company has a market capitalization of $46,826.56, a price-to-earnings ratio of 10.67, a P/E/G ratio of 1.25 and a beta of 1.56. Prudential Financial, Inc. has a 1 year low of $95.95 and a 1 year high of $115.26.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.71 by $0.30. The firm had revenue of $13.36 billion during the quarter, compared to analyst estimates of $12.24 billion. Prudential Financial had a return on equity of 9.51% and a net margin of 7.71%. During the same period in the previous year, the company earned $2.66 earnings per share. equities analysts anticipate that Prudential Financial, Inc. will post 10.38 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Monday, November 27th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.74%. Prudential Financial’s dividend payout ratio is currently 30.18%.
PRU has been the topic of a number of recent research reports. Royal Bank Of Canada restated a “hold” rating and set a $119.00 price objective on shares of Prudential Financial in a research note on Friday, November 3rd. Morgan Stanley boosted their price objective on Prudential Financial from $123.00 to $124.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 2nd. Goldman Sachs Group, Inc. (The) initiated coverage on Prudential Financial in a research note on Wednesday, October 18th. They set a “neutral” rating and a $114.00 price objective on the stock. Citigroup Inc. upgraded Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 price objective on the stock in a research note on Tuesday, October 17th. Finally, BidaskClub cut Prudential Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Prudential Financial has an average rating of “Buy” and an average price target of $115.13.
In other news, EVP Charles F. Lowrey sold 44,630 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $111.91, for a total transaction of $4,994,543.30. Following the completion of the transaction, the executive vice president now directly owns 79,354 shares of the company’s stock, valued at $8,880,506.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas C. Silitch sold 44,860 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $111.77, for a total value of $5,014,002.20. Following the transaction, the insider now directly owns 27,927 shares of the company’s stock, valued at $3,121,400.79. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.
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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