MV Capital Management Inc. held its position in Prudential Financial, Inc. (NYSE:PRU) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 964 shares of the financial services provider’s stock at the end of the second quarter. MV Capital Management Inc.’s holdings in Prudential Financial were worth $104,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. BKD Wealth Advisors LLC boosted its position in Prudential Financial by 51.4% in the first quarter. BKD Wealth Advisors LLC now owns 4,030 shares of the financial services provider’s stock valued at $430,000 after buying an additional 1,369 shares during the period. Westpac Banking Corp raised its stake in Prudential Financial by 103.7% in the first quarter. Westpac Banking Corp now owns 54,100 shares of the financial services provider’s stock worth $5,100,000 after buying an additional 27,536 shares in the last quarter. Financial Counselors Inc. raised its stake in Prudential Financial by 3.4% in the first quarter. Financial Counselors Inc. now owns 72,807 shares of the financial services provider’s stock worth $7,767,000 after buying an additional 2,365 shares in the last quarter. BLB&B Advisors LLC raised its stake in Prudential Financial by 7.3% in the first quarter. BLB&B Advisors LLC now owns 2,192 shares of the financial services provider’s stock worth $234,000 after buying an additional 150 shares in the last quarter. Finally, Vicus Capital acquired a new stake in Prudential Financial during the first quarter worth approximately $235,000. Hedge funds and other institutional investors own 63.58% of the company’s stock.
Shares of Prudential Financial, Inc. (NYSE:PRU) opened at 101.95 on Friday. The firm’s 50-day moving average is $110.29 and its 200 day moving average is $108.05. The company has a market capitalization of $43.53 billion, a PE ratio of 11.38 and a beta of 1.50. Prudential Financial, Inc. has a 12 month low of $75.50 and a 12 month high of $115.26.
Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share for the quarter, missing analysts’ consensus estimates of $2.70 by $0.61. The firm had revenue of $13.03 billion for the quarter, compared to the consensus estimate of $12.45 billion. Prudential Financial had a net margin of 7.15% and a return on equity of 8.98%. During the same period in the previous year, the business earned $1.84 earnings per share. Equities research analysts predict that Prudential Financial, Inc. will post $10.18 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 given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Friday, August 18th. Prudential Financial’s dividend payout ratio is 33.63%.
A number of analysts have commented on the stock. BidaskClub lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Prudential Financial in a report on Friday, August 11th. Wells Fargo & Company reissued a “hold” rating on shares of Prudential Financial in a report on Thursday, August 3rd. Royal Bank Of Canada reissued a “hold” rating and issued a $113.00 price target on shares of Prudential Financial in a report on Tuesday, June 27th. Finally, Zacks Investment Research lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Prudential Financial presently has an average rating of “Buy” and a consensus price target of $111.21.
In other Prudential Financial news, insider Nicholas C. Silitch sold 14,897 shares of Prudential Financial stock in a transaction dated 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 sale, the insider now owns 21,274 shares of the company’s stock, valued at $2,340,140. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephen Pelletier sold 4,133 shares of Prudential Financial stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $112.18, for a total transaction of $463,639.94. Following the completion of the sale, the insider now directly owns 10,924 shares in the company, valued at approximately $1,225,454.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 220,615 shares of company stock worth $24,276,660. 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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