Sentinel Trust Co. LBA increased its position in Prudential Financial, Inc. (NYSE:PRU) by 52.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 59,640 shares of the financial services provider’s stock after buying an additional 20,640 shares during the period. Prudential Financial makes up about 1.1% of Sentinel Trust Co. LBA’s investment portfolio, making the stock its 13th largest position. Sentinel Trust Co. LBA’s holdings in Prudential Financial were worth $6,450,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in PRU. Guardian Life Insurance Co. of America boosted its position in shares of Prudential Financial by 0.3% in the first quarter. Guardian Life Insurance Co. of America now owns 1,658 shares of the financial services provider’s stock worth $177,000 after buying an additional 5 shares during the last quarter. Sigma Planning Corp boosted its position in shares of Prudential Financial by 0.3% in the first quarter. Sigma Planning Corp now owns 3,449 shares of the financial services provider’s stock worth $368,000 after buying an additional 10 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in Prudential Financial by 0.9% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,018 shares of the financial services provider’s stock worth $218,000 after buying an additional 18 shares during the period. Trust Co raised its stake in Prudential Financial by 1.0% in the first quarter. Trust Co now owns 2,024 shares of the financial services provider’s stock worth $216,000 after buying an additional 20 shares during the period. Finally, Koshinski Asset Management Inc. raised its stake in Prudential Financial by 0.4% in the first quarter. Koshinski Asset Management Inc. now owns 5,541 shares of the financial services provider’s stock worth $591,000 after buying an additional 24 shares during the period. 63.51% of the stock is owned by institutional investors.
Shares of Prudential Financial, Inc. (NYSE:PRU) traded down 0.35% on Friday, reaching $105.69. The company’s stock had a trading volume of 2,239,384 shares. The stock has a 50-day moving average of $110.42 and a 200 day moving average of $108.12. Prudential Financial, Inc. has a 1-year low of $75.20 and a 1-year high of $115.26. The stock has a market capitalization of $45.13 billion, a PE ratio of 11.80 and a beta of 1.50.
Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $2.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.70 by $0.61. Prudential Financial had a net margin of 7.15% and a return on equity of 8.98%. The company had revenue of $13.03 billion during the quarter, compared to analyst estimates of $12.45 billion. During the same quarter in the prior year, the firm earned $1.84 earnings per share. On average, equities analysts forecast that Prudential Financial, Inc. will post $10.22 EPS for the current year.
The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, August 18th. This represents a $3.00 annualized dividend and a dividend yield of 2.84%. Prudential Financial’s dividend payout ratio is currently 33.63%.
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PRU has been the subject of several analyst reports. Deutsche Bank AG raised their price target on Prudential Financial from $114.00 to $117.00 and gave the stock a “buy” rating in a research report on Wednesday, April 19th. Wells Fargo & Company reiterated a “hold” rating on shares of Prudential Financial in a research note on Thursday, August 3rd. BidaskClub upgraded Prudential Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. ValuEngine upgraded Prudential Financial from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research cut Prudential Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Ten research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $111.21.
In other Prudential Financial news, insider Stephen Pelletier sold 4,133 shares of the company’s stock in a transaction on Monday, August 7th. The shares were 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 filing with the SEC, which is available through the SEC website. Also, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were 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 owns 456,121 shares in the company, valued at $50,173,310. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,615 shares of company stock worth $24,276,660. 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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