Macquarie Group Ltd. trimmed its position in Prudential Financial, Inc. (NYSE:PRU) by 14.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 156,321 shares of the financial services provider’s stock after selling 26,822 shares during the quarter. Macquarie Group Ltd.’s holdings in Prudential Financial were worth $16,904,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Flinton Capital Management LLC increased its holdings in shares of Prudential Financial by 72.9% in the 2nd quarter. Flinton Capital Management LLC now owns 142,480 shares of the financial services provider’s stock valued at $15,408,000 after acquiring an additional 60,096 shares during the last quarter. Fieldpoint Private Securities LLC bought a new stake in shares of Prudential Financial in the 2nd quarter valued at approximately $103,000. Capital Research Global Investors increased its holdings in shares of Prudential Financial by 1.2% in the 2nd quarter. Capital Research Global Investors now owns 13,662,673 shares of the financial services provider’s stock valued at $1,477,481,000 after acquiring an additional 162,833 shares during the last quarter. Zurich Insurance Group Ltd FI increased its holdings in shares of Prudential Financial by 18.8% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 115,996 shares of the financial services provider’s stock valued at $12,544,000 after acquiring an additional 18,389 shares during the last quarter. Finally, Sun Life Financial INC increased its holdings in shares of Prudential Financial by 12,520.0% in the 2nd quarter. Sun Life Financial INC now owns 3,155 shares of the financial services provider’s stock valued at $341,000 after acquiring an additional 3,130 shares during the last quarter. Institutional investors and hedge funds own 64.45% of the company’s stock.
In other Prudential Financial news, insider Nicholas C. Silitch sold 14,897 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $110.00, for a total value of $1,638,670.00. Following the transaction, the insider now directly owns 21,274 shares in the company, valued at approximately $2,340,140. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen Pelletier sold 4,133 shares of the stock in a transaction on 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 in the company, valued at $1,225,454.32. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.
Prudential Financial, Inc. (PRU) opened at 109.35 on Friday. The firm has a market cap of $46.69 billion, a price-to-earnings ratio of 12.21 and a beta of 1.51. Prudential Financial, Inc. has a 52-week low of $82.45 and a 52-week high of $115.26. The company’s 50-day moving average price is $104.52 and its 200-day moving average price is $106.66.
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 Zacks’ consensus estimate of $2.70 by ($0.61). The firm had revenue of $13.03 billion during 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 in the previous year, the business posted $1.84 earnings per share. Analysts predict that Prudential Financial, Inc. will post $10.14 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Tuesday, August 22nd were given a $0.75 dividend. The ex-dividend date was Friday, August 18th. This represents a $3.00 dividend on an annualized basis and a yield of 2.74%. Prudential Financial’s payout ratio is 33.63%.
A number of equities research analysts have recently weighed in on the company. Morgan Stanley boosted their price target on Prudential Financial from $118.00 to $123.00 and gave the company an “equal weight” rating in a report on Thursday, October 5th. FBR & Co upgraded Prudential Financial from a “neutral” rating to a “buy” rating and lowered their price target for the company from $117.00 to $100.00 in a report on Tuesday. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Prudential Financial in a report on Friday, August 11th. BidaskClub downgraded Prudential Financial from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Finally, Wells Fargo & Company reiterated a “hold” rating on shares of Prudential Financial in a report on Thursday, August 3rd. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Prudential Financial has a consensus rating of “Buy” and a consensus target price of $114.30.
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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