Daiwa Securities Group Inc. lowered its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 7.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,050 shares of the financial services provider’s stock after selling 2,550 shares during the period. Daiwa Securities Group Inc.’s holdings in Prudential Financial were worth $3,358,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Quadrature Capital Ltd bought a new position in Prudential Financial during the fourth quarter valued at about $343,000. CENTRAL TRUST Co increased its position in Prudential Financial by 4.1% in the first quarter. CENTRAL TRUST Co now owns 5,399 shares of the financial services provider’s stock valued at $576,000 after buying an additional 211 shares in the last quarter. Trust Co acquired a new position in Prudential Financial during the fourth quarter valued at $209,000. Creative Planning increased its position in Prudential Financial by 9.2% in the first quarter. Creative Planning now owns 13,392 shares of the financial services provider’s stock valued at $1,429,000 after buying an additional 1,125 shares in the last quarter. Finally, Gillespie Robinson & Grimm Inc. increased its position in Prudential Financial by 10.5% in the first quarter. Gillespie Robinson & Grimm Inc. now owns 2,899 shares of the financial services provider’s stock valued at $309,000 after buying an additional 275 shares in the last quarter. 63.58% of the stock is currently owned by institutional investors and hedge funds.
Prudential Financial, Inc. (PRU) traded up 0.04% during midday trading on Friday, reaching $101.95. The company’s stock had a trading volume of 3,523,224 shares. The firm has a 50 day moving average price of $110.29 and a 200 day moving average price of $108.05. Prudential Financial, Inc. has a 1-year low of $75.50 and a 1-year high of $115.26. The firm has a market capitalization of $43.53 billion, a PE ratio of 11.38 and a beta of 1.50.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.70 by $0.61. The company had revenue of $13.03 billion during the quarter, compared to analyst estimates 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 prior year, the firm earned $1.84 EPS. On average, analysts predict that Prudential Financial, Inc. will post $10.18 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Tuesday, August 22nd will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date is Friday, August 18th. Prudential Financial’s dividend payout ratio is currently 33.63%.
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Several equities research analysts recently issued reports on PRU shares. Wells Fargo & Company restated a “hold” rating on shares of Prudential Financial in a research report on Thursday, August 3rd. BidaskClub upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. ValuEngine upgraded shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Zacks Investment Research downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Prudential Financial in a research note on Friday, August 11th. Ten research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $111.21.
In related news, insider Nicholas C. Silitch sold 14,897 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $110.00, for a total value of $1,638,670.00. Following the completion of the sale, the insider now owns 21,274 shares in the company, valued at $2,340,140. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Pelletier sold 4,133 shares of the stock in a transaction dated Monday, August 7th. The stock was 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 $1,225,454.32. The disclosure for this sale can be found here. In the last three months, insiders sold 220,615 shares of company stock worth $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.
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