Janus Henderson Group PLC trimmed its position in Prudential Financial, Inc. (NYSE:PRU) by 7.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,118,653 shares of the financial services provider’s stock after selling 85,507 shares during the quarter. Janus Henderson Group PLC owned 0.26% of Prudential Financial worth $118,936,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fieldpoint Private Securities LLC acquired a new position in Prudential Financial in the 2nd quarter valued at $103,000. Grove Bank & Trust grew its holdings in Prudential Financial by 507.0% in the 3rd quarter. Grove Bank & Trust now owns 1,129 shares of the financial services provider’s stock valued at $120,000 after buying an additional 943 shares in the last quarter. Hudock Capital Group LLC grew its holdings in 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 buying an additional 8 shares in the last quarter. Legacy Advisors LLC acquired a new position in Prudential Financial in the 3rd quarter valued at $129,000. Finally, Advisory Services Network LLC grew its holdings in Prudential Financial by 128.8% in the 2nd quarter. Advisory Services Network LLC now owns 1,700 shares of the financial services provider’s stock valued at $184,000 after buying an additional 957 shares in the last quarter. 64.65% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Nicholas C. Silitch sold 44,860 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $111.77, for a total transaction of $5,014,002.20. Following the completion of the transaction, the insider now directly owns 27,927 shares in the company, valued at $3,121,400.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy P. Harris sold 10,527 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $115.00, for a total value of $1,210,605.00. The disclosure for this sale can be found here. Insiders sold 100,017 shares of company stock valued at $11,219,151 over the last quarter. Corporate insiders own 0.66% of the company’s stock.
Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, November 1st. The financial services provider reported $3.01 EPS for the quarter, beating the consensus estimate of $2.71 by $0.30. The firm had revenue of $13.36 billion during the quarter, compared to the consensus estimate 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 last year, the company earned $2.66 earnings per share. equities research analysts forecast that Prudential Financial, Inc. will post 10.44 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Monday, November 27th will be given a $0.75 dividend. The ex-dividend date is Friday, November 24th. This represents a $3.00 annualized dividend and a yield of 2.63%. Prudential Financial’s dividend payout ratio is presently 30.24%.
Several analysts have recently issued reports on PRU shares. Citigroup raised Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 target price on the stock in a report on Tuesday, October 17th. Morgan Stanley increased their target price on Prudential Financial from $118.00 to $123.00 and gave the stock an “equal weight” rating in a report on Thursday, October 5th. Royal Bank of Canada reissued a “hold” rating and set a $119.00 target price on shares of Prudential Financial in a report on Friday, November 3rd. Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 target price on the stock in a report on Tuesday, October 10th. Finally, ValuEngine raised Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 5th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $115.64.
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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