Mengis Capital Management Inc. Has $2,968,000 Position in Prudential Financial, Inc. (PRU)

Mengis Capital Management Inc. maintained its stake in shares of Prudential Financial, Inc. (NYSE:PRU) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,448 shares of the financial services provider’s stock at the end of the second quarter. Prudential Financial accounts for about 2.1% of Mengis Capital Management Inc.’s portfolio, making the stock its 13th largest position. Mengis Capital Management Inc.’s holdings in Prudential Financial were worth $2,968,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. Adirondack Trust Co. raised its position in shares of Prudential Financial by 7.6% in the first quarter. Adirondack Trust Co. now owns 1,133 shares of the financial services provider’s stock worth $121,000 after buying an additional 80 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of Prudential Financial by 11.1% in the first quarter. Quadrant Capital Group LLC now owns 1,376 shares of the financial services provider’s stock worth $139,000 after buying an additional 137 shares in the last quarter. First Personal Financial Services raised its position in shares of Prudential Financial by 3.4% in the first quarter. First Personal Financial Services now owns 1,407 shares of the financial services provider’s stock worth $150,000 after buying an additional 46 shares in the last quarter. Guardian Life Insurance Co. of America raised 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 in the last quarter. Finally, Accurate Investment Solutions Inc. raised its position in shares of Prudential Financial by 2.3% in the second quarter. Accurate Investment Solutions Inc. now owns 1,664 shares of the financial services provider’s stock worth $180,000 after buying an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 63.58% of the company’s stock.

Shares of Prudential Financial, Inc. (PRU) traded up 0.04% during trading on Friday, reaching $101.95. 3,523,224 shares of the company’s stock were exchanged. Prudential Financial, Inc. has a 52-week low of $75.50 and a 52-week high of $115.26. The company has a market capitalization of $43.53 billion, a PE ratio of 11.38 and a beta of 1.50. The company has a 50 day moving average price of $110.29 and a 200-day moving average price of $108.05.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.70 by $0.61. Prudential Financial had a return on equity of 8.98% and a net margin of 7.15%. The company had revenue of $13.03 billion for the quarter, compared to analyst estimates of $12.45 billion. During the same quarter in the previous year, the company posted $1.84 earnings per share. On average, equities analysts forecast that Prudential Financial, Inc. will post $10.18 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Investors 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 yield of 2.94%. Prudential Financial’s dividend payout ratio is currently 33.63%.

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Several research analysts recently weighed in on PRU shares. BidaskClub lowered Prudential Financial from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Prudential Financial in a research report on Friday, August 11th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Prudential Financial in a research report on Thursday, August 3rd. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $113.00 target price on shares of Prudential Financial in a research report on Tuesday, June 27th. Finally, Zacks Investment Research lowered Prudential Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. Ten equities 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 stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $111.21.

In related news, insider Nicholas C. Silitch sold 14,897 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $110.00, for a total value of $1,638,670.00. Following the transaction, the insider now directly owns 21,274 shares in the company, valued at $2,340,140. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the 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 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. Insiders sold 220,615 shares of company stock worth $24,276,660 over the last 90 days. 0.66% of the stock is currently owned by company 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.

Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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