Pinebridge Investments L.P. boosted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 30.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,540 shares of the financial services provider’s stock after buying an additional 1,983 shares during the quarter. Pinebridge Investments L.P.’s holdings in Prudential Financial were worth $908,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of PRU. APG Asset Management N.V. boosted its stake in Prudential Financial by 171.8% in the 3rd quarter. APG Asset Management N.V. now owns 2,704,719 shares of the financial services provider’s stock worth $287,566,000 after purchasing an additional 1,709,699 shares during the period. Janus Henderson Group PLC boosted its stake in Prudential Financial by 1,997.1% in the 2nd quarter. Janus Henderson Group PLC now owns 1,204,160 shares of the financial services provider’s stock worth $130,218,000 after purchasing an additional 1,146,739 shares during the period. BlackRock Inc. boosted its stake in Prudential Financial by 2.9% in the 2nd quarter. BlackRock Inc. now owns 33,155,309 shares of the financial services provider’s stock worth $3,585,415,000 after purchasing an additional 934,352 shares during the period. AJO LP boosted its stake in Prudential Financial by 42.8% in the 2nd quarter. AJO LP now owns 2,743,406 shares of the financial services provider’s stock worth $296,672,000 after purchasing an additional 821,881 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in 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 worth $243,013,000 after purchasing an additional 737,458 shares during the period. Hedge funds and other institutional investors own 64.65% of the company’s stock.
Shares of Prudential Financial, Inc. (PRU) traded up $0.82 during trading hours on Friday, hitting $117.15. 1,176,157 shares of the company’s stock were exchanged, compared to its average volume of 1,639,982. The firm has a market cap of $49,671.60, a price-to-earnings ratio of 11.32, a P/E/G ratio of 1.32 and a beta of 1.55. Prudential Financial, Inc. has a 52 week low of $97.88 and a 52 week high of $117.99. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.34.
Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.30. The company had revenue of $13.36 billion during the quarter, compared to analyst estimates of $12.24 billion. Prudential Financial had a net margin of 7.71% and a return on equity of 9.51%. During the same quarter last year, the business posted $2.66 EPS. sell-side analysts expect that Prudential Financial, Inc. will post 10.44 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Monday, November 27th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Friday, November 24th. Prudential Financial’s dividend payout ratio (DPR) is currently 30.18%.
In related news, insider Nicholas C. Silitch sold 44,860 shares of Prudential Financial stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $111.77, for a total value of $5,014,002.20. Following the completion of the sale, the insider now owns 27,927 shares of the company’s stock, valued at approximately $3,121,400.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Timothy P. Harris sold 10,527 shares of Prudential Financial stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $115.00, for a total transaction of $1,210,605.00. The disclosure for this sale can be found here. Insiders have sold a total of 100,017 shares of company stock valued at $11,219,151 in the last three months. Company insiders own 0.66% of the company’s stock.
A number of equities analysts recently commented on the stock. ValuEngine raised shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 5th. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Prudential Financial in a research note on Friday, November 10th. B. Riley reaffirmed a “buy” rating on shares of Prudential Financial in a research note on Monday, November 6th. Wells Fargo & Company reaffirmed a “hold” rating and issued a $120.00 price objective (up previously from $114.00) on shares of Prudential Financial in a research note on Wednesday, November 8th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $119.00 price objective on shares of Prudential Financial in a research note on Friday, November 3rd. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $115.64.
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Prudential Financial 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.
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