Envestnet Asset Management Inc. raised its position in Prudential Financial, Inc. (NYSE:PRU) by 14.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,810 shares of the financial services provider’s stock after buying an additional 5,721 shares during the period. Envestnet Asset Management Inc.’s holdings in Prudential Financial were worth $4,759,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in PRU. APG Asset Management N.V. boosted its position in Prudential Financial by 171.8% in the third quarter. APG Asset Management N.V. now owns 2,704,719 shares of the financial services provider’s stock valued at $287,566,000 after buying an additional 1,709,699 shares in the last quarter. Janus Henderson Group PLC boosted its position in Prudential Financial by 1,997.1% in the second quarter. Janus Henderson Group PLC now owns 1,204,160 shares of the financial services provider’s stock valued at $130,218,000 after buying an additional 1,146,739 shares in the last quarter. BlackRock Inc. boosted 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 valued at $3,585,415,000 after buying an additional 934,352 shares in the last quarter. AJO LP boosted its position in Prudential Financial by 42.8% in the second quarter. AJO LP now owns 2,743,406 shares of the financial services provider’s stock valued at $296,672,000 after buying an additional 821,881 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Prudential Financial by 48.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,247,204 shares of the financial services provider’s stock valued at $243,013,000 after buying an additional 737,458 shares in the last quarter. Hedge funds and other institutional investors own 64.65% of the company’s stock.
Shares of Prudential Financial, Inc. (PRU) traded up $0.82 during mid-day trading on Friday, hitting $117.15. 1,176,157 shares of the stock were exchanged, compared to its average volume of 1,639,982. Prudential Financial, Inc. has a 12 month low of $97.88 and a 12 month high of $117.99. The firm has a market capitalization of $49,671.60, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 1.32 and a beta of 1.55. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.13 and a quick ratio of 0.13.
Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.71 by $0.30. Prudential Financial had a net margin of 7.71% and a return on equity of 9.51%. The company had revenue of $13.36 billion for the quarter, compared to analyst estimates of $12.24 billion. During the same period in the prior year, the business earned $2.66 earnings per share. equities research analysts anticipate that Prudential Financial, Inc. will post 10.44 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Monday, November 27th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, November 24th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.56%. Prudential Financial’s payout ratio is 30.18%.
A number of equities analysts have commented on PRU shares. BidaskClub lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Royal Bank Of Canada restated a “hold” rating and issued a $117.00 price target on shares of Prudential Financial in a research report on Wednesday, September 6th. Morgan Stanley boosted their price target on shares of Prudential Financial from $118.00 to $123.00 and gave the company an “equal weight” rating in a research report on Thursday, October 5th. FBR & Co upgraded shares of Prudential Financial from a “neutral” rating to a “buy” rating and reduced their price target for the company from $117.00 to $100.00 in a research report on Tuesday, October 10th. Finally, Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 target price on the stock in a research report on Tuesday, October 10th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Prudential Financial currently has a consensus rating of “Buy” and a consensus price target of $115.64.
In related news, insider Nicholas C. Silitch sold 44,860 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $111.77, for a total transaction of $5,014,002.20. Following the completion of the sale, the insider now directly owns 27,927 shares of the company’s stock, valued at $3,121,400.79. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Timothy P. Harris sold 10,527 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $115.00, for a total transaction of $1,210,605.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,017 shares of company stock valued at $11,219,151. 0.66% of the stock is currently owned by insiders.
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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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