Quantitative Investment Management LLC Has $7.79 Million Holdings in Prudential Financial, Inc. (PRU)

Quantitative Investment Management LLC boosted its stake in Prudential Financial, Inc. (NYSE:PRU) by 520.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,000 shares of the financial services provider’s stock after buying an additional 60,400 shares during the period. Quantitative Investment Management LLC’s holdings in Prudential Financial were worth $7,786,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. increased its position in Prudential Financial by 2.9% in the second quarter. BlackRock Inc. now owns 33,155,309 shares of the financial services provider’s stock worth $3,585,415,000 after buying an additional 934,352 shares during the period. Vanguard Group Inc. increased its position in Prudential Financial by 3.3% in the first quarter. Vanguard Group Inc. now owns 30,272,486 shares of the financial services provider’s stock worth $3,229,469,000 after buying an additional 968,500 shares during the period. Geode Capital Management LLC increased its position in Prudential Financial by 9.4% in the first quarter. Geode Capital Management LLC now owns 4,297,520 shares of the financial services provider’s stock worth $457,822,000 after buying an additional 368,321 shares during the period. Ameriprise Financial Inc. increased its position in Prudential Financial by 11.9% in the second quarter. Ameriprise Financial Inc. now owns 4,157,881 shares of the financial services provider’s stock worth $449,637,000 after buying an additional 442,168 shares during the period. Finally, LSV Asset Management increased its position in Prudential Financial by 1.0% in the second quarter. LSV Asset Management now owns 3,372,864 shares of the financial services provider’s stock worth $364,741,000 after buying an additional 32,998 shares during the period. 64.45% of the stock is currently owned by hedge funds and other institutional investors.

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Several brokerages have weighed in on PRU. Zacks Investment Research lowered Prudential Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. BidaskClub raised Prudential Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Prudential Financial in a research report on Tuesday, June 6th. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Prudential Financial in a research report on Friday, August 11th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $113.00 target price on shares of Prudential Financial in a research report on Tuesday, June 27th. Ten investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Prudential Financial presently has an average rating of “Buy” and an average target price of $111.49.

In other news, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $110.00, for a total transaction of $22,174,350.00. Following the completion of the sale, the chairman now owns 456,121 shares in the company, valued at $50,173,310. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Nicholas C. Silitch sold 14,897 shares of the business’s 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 sale, the insider now owns 21,274 shares of the company’s stock, valued at approximately $2,340,140. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 220,615 shares of company stock valued at $24,276,660. 0.66% of the stock is currently owned by corporate insiders.

Prudential Financial, Inc. (PRU) opened at 105.00 on Friday. The company’s 50-day moving average price is $104.48 and its 200-day moving average price is $106.88. The firm has a market capitalization of $44.84 billion, a price-to-earnings ratio of 11.72 and a beta of 1.49. Prudential Financial, Inc. has a 12-month low of $78.50 and a 12-month high of $115.26.

Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.61). The firm had revenue of $13.03 billion for the quarter, compared to the consensus estimate of $12.45 billion. Prudential Financial had a return on equity of 8.98% and a net margin of 7.15%. During the same quarter in the previous year, the firm earned $1.84 EPS. Equities analysts expect that Prudential Financial, Inc. will post $10.14 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Tuesday, August 22nd were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, August 18th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.86%. Prudential Financial’s payout ratio is currently 33.63%.

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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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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