Captrust Financial Advisors boosted its stake in shares of Prudential Financial Inc (NYSE:PRU) by 20.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,832 shares of the financial services provider’s stock after acquiring an additional 4,003 shares during the quarter. Captrust Financial Advisors’ holdings in Prudential Financial were worth $2,407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the stock. BlackRock Inc. increased its position in Prudential Financial by 6.5% during the 1st quarter. BlackRock Inc. now owns 29,555,017 shares of the financial services provider’s stock valued at $2,715,518,000 after buying an additional 1,810,818 shares in the last quarter. Northern Trust Corp boosted its stake in Prudential Financial by 0.5% during the 2nd quarter. Northern Trust Corp now owns 5,176,780 shares of the financial services provider’s stock valued at $522,855,000 after purchasing an additional 27,620 shares during the last quarter. Geode Capital Management LLC boosted its stake in Prudential Financial by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 5,129,191 shares of the financial services provider’s stock valued at $417,519,000 after purchasing an additional 326,075 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Prudential Financial by 3.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,190,377 shares of the financial services provider’s stock valued at $322,229,000 after purchasing an additional 104,015 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its stake in Prudential Financial by 5.6% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 2,487,379 shares of the financial services provider’s stock valued at $228,541,000 after purchasing an additional 131,406 shares during the last quarter. Institutional investors own 63.18% of the company’s stock.
Shares of NYSE:PRU opened at $90.16 on Friday. The company has a market capitalization of $36.09 billion, a price-to-earnings ratio of 7.71, a price-to-earnings-growth ratio of 0.81 and a beta of 1.55. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.29. Prudential Financial Inc has a 52 week low of $75.61 and a 52 week high of $106.64. The firm has a 50 day moving average of $84.07 and a 200 day moving average of $95.07.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $3.14 earnings per share for the quarter, missing analysts’ consensus estimates of $3.22 by ($0.08). Prudential Financial had a net margin of 6.92% and a return on equity of 9.24%. The company had revenue of $14.11 billion for the quarter, compared to analysts’ expectations of $13.63 billion. During the same period last year, the firm earned $3.01 earnings per share. On average, sell-side analysts expect that Prudential Financial Inc will post 12.37 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 4.44%. The ex-dividend date was Monday, August 19th. Prudential Financial’s payout ratio is 34.22%.
PRU has been the topic of a number of recent analyst reports. B. Riley cut Prudential Financial from a “buy” rating to a “neutral” rating and decreased their price target for the company from $122.00 to $100.00 in a report on Thursday, August 1st. ValuEngine upgraded Prudential Financial from a “strong sell” rating to a “sell” rating in a research report on Wednesday. Goldman Sachs Group dropped their price target on Prudential Financial from $107.00 to $99.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Barclays set a $108.00 target price on Prudential Financial and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, Wells Fargo & Co set a $115.00 target price on Prudential Financial and gave the company a “buy” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $100.50.
In other news, CFO Kenneth Tanji purchased 2,500 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was acquired at an average price of $83.84 per share, for a total transaction of $209,600.00. Following the acquisition, the chief financial officer now directly owns 19,285 shares of the company’s stock, valued at $1,616,854.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Charles F. Lowrey acquired 7,500 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were bought at an average cost of $83.68 per share, with a total value of $627,600.00. Following the transaction, the chief executive officer now directly owns 64,263 shares in the company, valued at approximately $5,377,527.84. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 13,580 shares of company stock worth $1,137,848. Corporate insiders own 0.76% of the company’s stock.
Prudential Financial Company Profile
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.
See Also: Cash Asset Ratio
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