Checchi Capital Advisers LLC reduced its position in Prudential Financial, Inc. (NYSE:PRU) by 2.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,640 shares of the financial services provider’s stock after selling 76 shares during the period. Checchi Capital Advisers LLC’s holdings in Prudential Financial were worth $394,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in PRU. BlackRock Inc. boosted its position in 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 valued at $3,437,330,000 after buying an additional 31,272,429 shares in the last quarter. Vanguard Group Inc. boosted its position in 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 valued at $3,229,469,000 after buying an additional 968,500 shares in the last quarter. Old Mutual Global Investors UK Ltd. boosted its position in Prudential Financial by 971,689.7% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 942,636 shares of the financial services provider’s stock valued at $100,560,000 after buying an additional 942,539 shares in the last quarter. Acadian Asset Management LLC boosted its position in 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 valued at $79,040,000 after buying an additional 698,835 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in 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 valued at $157,097,000 after buying an additional 668,233 shares in the last quarter. 63.58% of the stock is owned by institutional investors.
Prudential Financial, Inc. (NYSE PRU) opened at 106.25 on Wednesday. The company has a market capitalization of $45.37 billion, a price-to-earnings ratio of 11.86 and a beta of 1.50. Prudential Financial, Inc. has a 52 week low of $74.85 and a 52 week high of $115.26. The company’s 50-day moving average price is $110.59 and its 200 day moving average price is $108.14.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share (EPS) 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 last year, the business earned $1.84 earnings per share. On average, analysts predict that Prudential Financial, Inc. will post $10.21 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Tuesday, August 22nd will be issued a dividend of $0.75 per share. The ex-dividend date is Friday, August 18th. This represents a $3.00 annualized dividend and a dividend yield of 2.82%. Prudential Financial’s dividend payout ratio is presently 33.63%.
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Several equities analysts recently weighed in on PRU shares. Deutsche Bank AG boosted their price objective 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 reissued a “hold” rating on shares of Prudential Financial in a research report on Thursday, August 3rd. BidaskClub raised Prudential Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. ValuEngine raised Prudential Financial from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research cut Prudential Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. Ten analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $111.21.
In other news, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the firm’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 transaction of $22,174,350.00. Following the transaction, the chairman now directly owns 456,121 shares of the company’s stock, valued at $50,173,310. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Pelletier sold 4,133 shares of the firm’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 transaction 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 disclosure for this sale can be found here. Insiders have sold 220,615 shares of company stock worth $24,276,660 over the last ninety days. Insiders own 0.66% of the company’s stock.
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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