Trust Co. of Virginia VA reduced its stake in Prudential Financial, Inc. (NYSE:PRU) by 70.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 26,296 shares of the financial services provider’s stock after selling 63,678 shares during the quarter. Trust Co. of Virginia VA’s holdings in Prudential Financial were worth $2,843,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of PRU. NorthCoast Asset Management LLC grew its stake in shares of Prudential Financial by 48.6% during the 2nd quarter. NorthCoast Asset Management LLC now owns 30,950 shares of the financial services provider’s stock worth $3,347,000 after purchasing an additional 10,116 shares during the period. Martingale Asset Management L P grew its stake in Prudential Financial by 2.7% in the 2nd quarter. Martingale Asset Management L P now owns 65,200 shares of the financial services provider’s stock valued at $7,051,000 after acquiring an additional 1,700 shares during the period. Jacobi Capital Management LLC grew its stake in Prudential Financial by 19.2% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,194 shares of the financial services provider’s stock valued at $244,000 after acquiring an additional 353 shares during the period. Aberdeen Asset Management PLC UK grew its stake in Prudential Financial by 3.8% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 538,439 shares of the financial services provider’s stock valued at $58,227,000 after acquiring an additional 19,798 shares during the period. Finally, HPM Partners LLC grew its stake in Prudential Financial by 2,299.7% in the 2nd quarter. HPM Partners LLC now owns 84,012 shares of the financial services provider’s stock valued at $7,322,000 after acquiring an additional 80,511 shares during the period. 64.46% of the stock is owned by institutional investors.
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Prudential Financial, Inc. (PRU) traded up 0.79% during midday trading on Friday, hitting $102.78. The stock had a trading volume of 2,944,469 shares. Prudential Financial, Inc. has a one year low of $78.50 and a one year high of $115.26. The stock has a 50-day moving average price of $105.02 and a 200 day moving average price of $107.08. The firm has a market cap of $43.89 billion, a PE ratio of 11.47 and a beta of 1.49.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings data 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 business had revenue of $13.03 billion for the quarter, compared to analyst estimates of $12.45 billion. Prudential Financial had a return on equity of 8.98% and a net margin of 7.15%. During the same period in the previous year, the business posted $1.84 EPS. On average, analysts predict that Prudential Financial, Inc. will post $10.14 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Tuesday, August 22nd were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend was Friday, August 18th. Prudential Financial’s dividend payout ratio (DPR) is presently 33.63%.
In other Prudential Financial news, insider Nicholas C. Silitch sold 14,897 shares of the stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $110.00, for a total transaction of $1,638,670.00. Following the completion of the transaction, the insider now owns 21,274 shares in the company, valued at approximately $2,340,140. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Stephen Pelletier sold 4,133 shares of the firm’s 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 completion of the transaction, the insider now owns 10,924 shares of the company’s stock, valued at approximately $1,225,454.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 220,615 shares of company stock valued at $24,276,660. Corporate insiders own 0.66% of the company’s stock.
Several analysts recently issued reports on PRU shares. Royal Bank Of Canada restated a “hold” rating and issued a $117.00 price objective on shares of Prudential Financial in a report on Wednesday, September 6th. BidaskClub lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Prudential Financial in a research note on Friday, August 11th. Wells Fargo & Company reiterated a “hold” rating on shares of Prudential Financial in a research note on Thursday, August 3rd. Finally, Zacks Investment Research lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Ten research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $111.49.
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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