PGGM Investments increased its stake in Prudential Financial Inc. (NYSE:PRU) by 5.0% during the second quarter, Holdings Channel reports. The institutional investor owned 318,145 shares of the company’s stock after buying an additional 15,238 shares during the period. PGGM Investments’ holdings in Prudential Financial were worth $22,696,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Americafirst Capital Management LLC bought a new stake in shares of Prudential Financial during the second quarter valued at $100,000. Gierl Augustine Investment Management Inc raised its stake in shares of Prudential Financial by 14.4% in the second quarter. Gierl Augustine Investment Management Inc now owns 1,632 shares of the company’s stock valued at $116,000 after buying an additional 206 shares in the last quarter. Howard Hughes Medical Institute bought a new stake in shares of Prudential Financial during the first quarter valued at $119,000. Seven Eight Capital LLC raised its stake in shares of Prudential Financial by 757.0% in the first quarter. Seven Eight Capital LLC now owns 2,151 shares of the company’s stock valued at $155,000 after buying an additional 1,900 shares in the last quarter. Finally, FDO Partners LLC bought a new stake in shares of Prudential Financial during the first quarter valued at $222,000. 60.62% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Prudential Financial Inc. (NYSE:PRU) traded down 2.06% during midday trading on Thursday, reaching $79.97. The company had a trading volume of 3,027,526 shares. Prudential Financial Inc. has a 52-week low of $57.19 and a 52-week high of $88.77. The firm has a market cap of $34.95 billion, a P/E ratio of 8.22 and a beta of 1.62. The company’s 50-day moving average is $78.60 and its 200-day moving average is $75.76.
Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, August 3rd. The company reported $1.84 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.51 by $0.67. Prudential Financial had a net margin of 8.90% and a return on equity of 8.11%. During the same period last year, the firm earned $2.91 earnings per share. Equities research analysts expect that Prudential Financial Inc. will post ($0.01) EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Tuesday, August 23rd were paid a $0.70 dividend. The ex-dividend date was Friday, August 19th. This represents a $2.80 annualized dividend and a dividend yield of 3.50%. Prudential Financial’s dividend payout ratio (DPR) is currently 28.78%.
Several equities research analysts have weighed in on PRU shares. Goldman Sachs Group Inc. raised Prudential Financial from a “neutral” rating to a “buy” rating and increased their target price for the stock from $80.00 to $93.00 in a research report on Friday, September 23rd. Deutsche Bank AG decreased their price target on Prudential Financial from $90.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, July 7th. Citigroup Inc. decreased their price target on Prudential Financial from $83.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, July 7th. Evercore ISI began coverage on Prudential Financial in a research note on Wednesday, July 6th. They issued a “hold” rating and a $78.00 price target for the company. Finally, Zacks Investment Research raised Prudential Financial from a “sell” rating to a “hold” rating in a research note on Thursday, July 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $89.33.
In other news, insider Charles F. Lowrey sold 41,644 shares of Prudential Financial stock in a transaction on Friday, September 9th. The stock was sold at an average price of $80.00, for a total value of $3,331,520.00. Following the completion of the sale, the insider now directly owns 98,307 shares of the company’s stock, valued at approximately $7,864,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen Pelletier sold 4,470 shares of Prudential Financial stock in a transaction on Monday, August 8th. The shares were sold at an average price of $76.36, for a total value of $341,329.20. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.
About Prudential Financial
Prudential Financial, Inc is a financial services company. The Company, through its subsidiaries and affiliates, provides a range of financial products and services, including life insurance, annuities and investment management. The Company’s divisions include U.S. Retirement Solutions and Investment Management Division; U.S.
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