Amalgamated Bank cut its holdings in Prudential Financial Inc (NYSE:PRU) by 2.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,842 shares of the financial services provider’s stock after selling 1,281 shares during the period. Amalgamated Bank’s holdings in Prudential Financial were worth $5,354,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of PRU. Flagship Harbor Advisors LLC bought a new position in shares of Prudential Financial in the second quarter valued at $104,000. Sun Life Financial INC grew its stake in shares of Prudential Financial by 470.9% in the second quarter. Sun Life Financial INC now owns 1,136 shares of the financial services provider’s stock valued at $106,000 after buying an additional 937 shares in the last quarter. BerganKDV Wealth Management LLC grew its stake in shares of Prudential Financial by 165.8% in the third quarter. BerganKDV Wealth Management LLC now owns 1,284 shares of the financial services provider’s stock valued at $130,000 after buying an additional 801 shares in the last quarter. Centaurus Financial Inc. bought a new position in shares of Prudential Financial in the second quarter valued at $157,000. Finally, Vantage Investment Advisors LLC grew its stake in shares of Prudential Financial by 35.1% in the third quarter. Vantage Investment Advisors LLC now owns 2,048 shares of the financial services provider’s stock valued at $172,000 after buying an additional 532 shares in the last quarter. Institutional investors own 63.75% of the company’s stock.
PRU stock opened at $85.87 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.11 and a quick ratio of 0.11. Prudential Financial Inc has a one year low of $84.51 and a one year high of $127.14. The firm has a market cap of $35.46 billion, a price-to-earnings ratio of 8.12, a P/E/G ratio of 0.75 and a beta of 1.41.
Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, November 7th. The financial services provider reported $3.15 EPS for the quarter, missing the Zacks’ consensus estimate of $3.16 by ($0.01). Prudential Financial had a return on equity of 10.20% and a net margin of 12.59%. The company had revenue of $14.43 billion for the quarter, compared to the consensus estimate of $13.51 billion. During the same period last year, the firm earned $3.01 earnings per share. As a group, sell-side analysts anticipate that Prudential Financial Inc will post 12.75 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Monday, November 26th will be given a dividend of $0.90 per share. The ex-dividend date is Friday, November 23rd. This represents a $3.60 dividend on an annualized basis and a yield of 4.19%. Prudential Financial’s dividend payout ratio (DPR) is 34.03%.
In related news, major shareholder Prudential Financial Inc acquired 880,000 shares of Prudential Financial stock in a transaction on Tuesday, October 16th. The stock was purchased at an average cost of $25.00 per share, with a total value of $22,000,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott Sleyster sold 23,300 shares of Prudential Financial stock in a transaction on Friday, September 28th. The stock was sold at an average price of $99.74, for a total transaction of $2,323,942.00. Following the transaction, the insider now directly owns 57,758 shares of the company’s stock, valued at $5,760,782.92. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.
Several research firms recently weighed in on PRU. UBS Group raised their target price on shares of Prudential Financial from $125.00 to $126.00 and gave the company a “buy” rating in a research note on Monday, October 8th. Zacks Investment Research cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, November 14th. ValuEngine raised shares of Prudential Financial from a “strong sell” rating to a “sell” rating in a research note on Tuesday, September 4th. Goldman Sachs Group raised shares of Prudential Financial from a “buy” rating to a “conviction-buy” rating in a research note on Monday, September 10th. Finally, Credit Suisse Group decreased their target price on shares of Prudential Financial from $102.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, August 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $119.31.
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About Prudential Financial
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through U.S. Individual Solutions, U.S. Workplace Solutions, Investment Management, and International Insurance divisions.
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