Prudential Financial, Inc. (PRU) Position Lowered by Quadrant Capital Group LLC

Quadrant Capital Group LLC trimmed its stake in Prudential Financial, Inc. (NYSE:PRU) by 3.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,331 shares of the financial services provider’s stock after selling 45 shares during the period. Quadrant Capital Group LLC’s holdings in Prudential Financial were worth $124,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Bluefin Trading LLC grew its position in shares of Prudential Financial by 17.4% in the 2nd quarter. Bluefin Trading LLC now owns 14,670 shares of the financial services provider’s stock valued at $1,586,000 after buying an additional 2,170 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Prudential Financial by 48.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,247,204 shares of the financial services provider’s stock valued at $243,013,000 after buying an additional 737,458 shares during the last quarter. Gyroscope Capital Management Group LLC grew its position in shares of Prudential Financial by 7.2% in the 2nd quarter. Gyroscope Capital Management Group LLC now owns 49,873 shares of the financial services provider’s stock valued at $5,393,000 after buying an additional 3,355 shares during the last quarter. Moors & Cabot Inc. purchased a new position in shares of Prudential Financial in the 2nd quarter valued at $205,000. Finally, Caxton Associates LP grew its position in shares of Prudential Financial by 21.4% in the 2nd quarter. Caxton Associates LP now owns 5,100 shares of the financial services provider’s stock valued at $552,000 after buying an additional 900 shares during the last quarter. 64.45% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Prudential Financial, Inc. (NYSE PRU) traded down 0.49% on Thursday, reaching $109.47. 153,690 shares of the company’s stock traded hands. The stock has a market capitalization of $46.74 billion, a PE ratio of 12.22 and a beta of 1.51. The company has a 50 day moving average of $104.29 and a 200-day moving average of $106.64. Prudential Financial, Inc. has a 52 week low of $82.45 and a 52 week high of $115.26.

Prudential Financial (NYSE:PRU) last released its 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 business had revenue of $13.03 billion for the quarter, compared to the consensus estimate of $12.45 billion. During the same quarter in the previous year, the firm earned $1.84 EPS. Equities research analysts forecast that Prudential Financial, Inc. will post $10.14 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Tuesday, August 22nd were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, August 18th. This represents a $3.00 annualized dividend and a yield of 2.73%. Prudential Financial’s payout ratio is 33.63%.

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In other Prudential Financial news, insider Stephen Pelletier sold 4,133 shares of the business’s stock in a transaction on Monday, August 7th. The shares were 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 owns 10,924 shares in the company, valued at $1,225,454.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Nicholas C. Silitch sold 14,897 shares of the business’s stock in a transaction 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 sale, the insider now owns 21,274 shares of the company’s stock, valued at approximately $2,340,140. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

PRU has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Prudential Financial in a research report on Friday, August 11th. BidaskClub raised shares of Prudential Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 target price on the stock in a research report on Tuesday. FBR & Co raised shares of Prudential Financial from a “neutral” rating to a “buy” rating and dropped their target price for the company from $117.00 to $100.00 in a research report on Tuesday. Finally, Morgan Stanley increased their target price on shares of Prudential Financial from $118.00 to $123.00 and gave the company an “equal weight” rating in a research report on Thursday, October 5th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $114.30.

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.

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

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