Prudential Financial, Inc. (PRU) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System decreased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 9.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 823,452 shares of the financial services provider’s stock after selling 84,654 shares during the period. California State Teachers Retirement System owned approximately 0.19% of Prudential Financial worth $89,048,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of PRU. BlackRock Inc. grew its position in shares of Prudential Financial by 3,296.9% during 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 purchasing an additional 31,272,429 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Prudential Financial by 1,997.1% during the second quarter. Janus Henderson Group PLC now owns 1,204,160 shares of the financial services provider’s stock valued at $130,218,000 after purchasing an additional 1,146,739 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Prudential Financial by 3.3% during 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 purchasing an additional 968,500 shares in the last quarter. AJO LP grew its position in shares of Prudential Financial by 42.8% during the second quarter. AJO LP now owns 2,743,406 shares of the financial services provider’s stock valued at $296,672,000 after purchasing an additional 821,881 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Prudential Financial by 48.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,247,204 shares of the financial services provider’s stock valued at $243,013,000 after purchasing an additional 737,458 shares in the last quarter. Hedge funds and other institutional investors own 64.45% of the company’s stock.

Shares of Prudential Financial, Inc. (NYSE:PRU) traded up 0.6121% on Tuesday, hitting $109.7275. The company’s stock had a trading volume of 536,780 shares. The stock has a 50-day moving average price of $103.80 and a 200 day moving average price of $106.59. Prudential Financial, Inc. has a one year low of $82.45 and a one year high of $115.26. The firm has a market cap of $46.85 billion, a price-to-earnings ratio of 12.2505 and a beta of 1.51.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share for the quarter, missing the 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 firm had revenue of $13.03 billion during the quarter, compared to analysts’ expectations of $12.45 billion. During the same period last year, the company earned $1.84 EPS. Equities research analysts predict that Prudential Financial, Inc. will post $10.15 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Tuesday, August 22nd were paid a $0.75 dividend. The ex-dividend date was Friday, August 18th. This represents a $3.00 annualized dividend and a dividend yield of 2.75%. Prudential Financial’s dividend payout ratio (DPR) is 33.63%.

A number of research analysts have recently weighed in on PRU shares. Royal Bank Of Canada restated a “hold” rating and set a $117.00 price objective on shares of Prudential Financial in a research report on Wednesday, September 6th. BidaskClub lowered Prudential Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Wells Fargo & Company reiterated a “hold” rating on shares of Prudential Financial in a research report on Thursday, August 3rd. Morgan Stanley lifted their price target on Prudential Financial from $118.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 5th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Prudential Financial in a research report on Friday, August 11th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Prudential Financial currently has an average rating of “Buy” and an average target price of $115.08.

In other news, insider Stephen Pelletier sold 4,133 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 10,924 shares of the company’s stock, valued at approximately $1,225,454.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction of $1,638,670.00. Following the completion of the sale, the insider now directly owns 21,274 shares of the company’s stock, valued at approximately $2,340,140. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Prudential Financial, Inc. (PRU) Shares Sold by California State Teachers Retirement System” was originally posted by Community Financial News and is owned by of Community Financial News. If you are viewing this article on another publication, it was illegally stolen and republished in violation of United States and international copyright and trademark legislation. The correct version of this article can be read at https://www.com-unik.info/2017/10/10/prudential-financial-inc-pru-shares-sold-by-california-state-teachers-retirement-system.html.

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.

Want to see what other hedge funds are holding PRU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prudential Financial, Inc. (NYSE:PRU).

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

What are top analysts saying about Prudential Financial Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Prudential Financial Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit