Prudential Financial, Inc. (PRU) Stake Lowered by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado decreased its position in Prudential Financial, Inc. (NYSE:PRU) by 0.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 837,580 shares of the financial services provider’s stock after selling 1,760 shares during the period. Public Employees Retirement Association of Colorado owned approximately 0.20% of Prudential Financial worth $90,576,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Two Sigma Investments LP acquired a new position in shares of Prudential Financial during the fourth quarter valued at $220,000. Quadrature Capital Ltd acquired a new position in shares of Prudential Financial during the fourth quarter valued at $343,000. Beacon Financial Group boosted its position in shares of Prudential Financial by 10.1% in the first quarter. Beacon Financial Group now owns 10,379 shares of the financial services provider’s stock valued at $1,113,000 after buying an additional 950 shares in the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in shares of Prudential Financial by 3.0% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 371,282 shares of the financial services provider’s stock valued at $39,608,000 after buying an additional 10,770 shares in the last quarter. Finally, CENTRAL TRUST Co boosted its position in shares of 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. 63.58% of the stock is owned by institutional investors and hedge funds.

Shares of Prudential Financial, Inc. (PRU) opened at 101.95 on Friday. The firm has a market cap of $43.53 billion, a P/E 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. The stock’s 50 day moving average price is $110.29 and its 200-day moving average price is $108.05.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $2.09 EPS for the quarter, missing the consensus estimate 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 quarter last year, the company posted $1.84 earnings per share. On average, analysts predict that Prudential Financial, Inc. will post $10.18 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Tuesday, August 22nd will be given a dividend of $0.75 per share. The ex-dividend date is Friday, August 18th. This represents a $3.00 annualized dividend and a dividend yield of 2.94%. Prudential Financial’s dividend payout ratio (DPR) is presently 33.63%.

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PRU has been the subject of several research reports. Wells Fargo & Company reaffirmed a “hold” rating on shares of Prudential Financial in a research note on Thursday, August 3rd. BidaskClub raised shares of Prudential Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. ValuEngine raised shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Zacks Investment Research cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating on shares of Prudential Financial in a research note on Friday, August 11th. Ten 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 company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $111.21.

In other news, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $110.00, for a total transaction of $22,174,350.00. Following the transaction, the chairman now directly owns 456,121 shares in the company, valued at approximately $50,173,310. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $463,639.94. Following the transaction, the insider now owns 10,924 shares in the company, valued at $1,225,454.32. The disclosure for this sale can be found here. Insiders have sold a total of 220,615 shares of company stock worth $24,276,660 over the last quarter. Corporate 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)

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