Univest Corp of Pennsylvania Has $402,000 Stake in Prudential Financial, Inc. (PRU)

Univest Corp of Pennsylvania cut its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 6.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,719 shares of the financial services provider’s stock after selling 256 shares during the period. Univest Corp of Pennsylvania’s holdings in Prudential Financial were worth $402,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Guardian Life Insurance Co. of America increased its stake 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 valued at $177,000 after buying an additional 5 shares during the period. Sigma Planning Corp increased its stake in shares of Prudential Financial by 0.3% in the first quarter. Sigma Planning Corp now owns 3,449 shares of the financial services provider’s stock valued at $368,000 after buying an additional 10 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in shares of Prudential Financial by 0.9% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,018 shares of the financial services provider’s stock valued at $218,000 after buying an additional 18 shares during the period. Trust Co increased its stake in shares of Prudential Financial by 1.0% in the first quarter. Trust Co now owns 2,024 shares of the financial services provider’s stock valued at $216,000 after buying an additional 20 shares during the period. Finally, Koshinski Asset Management Inc. increased its stake in shares of Prudential Financial by 0.4% in the first quarter. Koshinski Asset Management Inc. now owns 5,541 shares of the financial services provider’s stock valued at $591,000 after buying an additional 24 shares during the period. Institutional investors and hedge funds own 63.51% of the company’s stock.

Shares of Prudential Financial, Inc. (PRU) traded down 0.35% during trading on Friday, hitting $105.69. 2,239,384 shares of the stock were exchanged. Prudential Financial, Inc. has a 52 week low of $74.85 and a 52 week high of $115.26. The firm has a market capitalization of $45.13 billion, a price-to-earnings ratio of 11.80 and a beta of 1.50. The stock’s 50 day moving average price is $110.42 and its 200 day moving average price is $108.12.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share 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 business 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 earnings per share. On average, equities analysts predict that Prudential Financial, Inc. will post $10.22 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Tuesday, August 22nd will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend is Friday, August 18th. Prudential Financial’s payout ratio is 33.63%.

ILLEGAL ACTIVITY NOTICE: “Univest Corp of Pennsylvania Has $402,000 Stake in Prudential Financial, Inc. (PRU)” was first published by BNB Daily and is the property of of BNB Daily. If you are viewing this article on another site, it was illegally stolen and reposted in violation of US & international copyright laws. The legal version of this article can be viewed at https://www.baseball-news-blog.com/2017/08/14/univest-corp-of-pennsylvania-has-402000-position-in-prudential-financial-inc-pru-updated.html.

PRU has been the subject of several research reports. Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 price objective for the company in a research report on Tuesday, April 18th. Deutsche Bank AG raised their price objective on shares of Prudential Financial from $114.00 to $117.00 and gave the stock a “buy” rating in a research report on Wednesday, April 19th. Credit Suisse Group restated a “hold” rating and set a $121.00 price objective on shares of Prudential Financial in a research report on Thursday, April 27th. Wells Fargo & Company restated a “hold” rating on shares of Prudential Financial in a research report on Thursday, May 4th. Finally, ValuEngine raised shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. 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. The stock currently has an average rating of “Buy” and a consensus price target of $111.21.

In other Prudential Financial news, insider Stephen Pelletier sold 4,133 shares of the stock in a transaction dated 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 directly owns 10,924 shares of the company’s stock, valued at $1,225,454.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 directly owns 456,121 shares of the company’s stock, valued at $50,173,310. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,615 shares of company stock valued at $24,276,660. 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.

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

Receive News & Ratings for Prudential Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply