Calamos Advisors LLC raised its stake in Prudential Financial Inc. (NYSE:PRU) by 0.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 102,264 shares of the company’s stock after buying an additional 35 shares during the period. Calamos Advisors LLC’s holdings in Prudential Financial were worth $7,296,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Artemis Investment Management LLP boosted its position in Prudential Financial by 242.9% in the second quarter. Artemis Investment Management LLP now owns 195,800 shares of the company’s stock worth $13,965,000 after buying an additional 138,700 shares during the last quarter. Douglas Lane & Associates LLC boosted its position in Prudential Financial by 11.2% in the second quarter. Douglas Lane & Associates LLC now owns 497,664 shares of the company’s stock worth $35,503,000 after buying an additional 50,012 shares during the last quarter. Panagora Asset Management Inc. boosted its position in Prudential Financial by 1,637.1% in the first quarter. Panagora Asset Management Inc. now owns 581,941 shares of the company’s stock worth $42,028,000 after buying an additional 548,441 shares during the last quarter. Boston Advisors LLC boosted its position in Prudential Financial by 1.1% in the second quarter. Boston Advisors LLC now owns 241,447 shares of the company’s stock worth $17,225,000 after buying an additional 2,571 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in Prudential Financial by 3.6% in the first quarter. Legal & General Group Plc now owns 2,138,025 shares of the company’s stock worth $154,427,000 after buying an additional 74,212 shares during the last quarter. 60.62% of the stock is owned by hedge funds and other institutional investors.
Shares of Prudential Financial Inc. (NYSE:PRU) traded up 2.10% during midday trading on Friday, reaching $81.65. 3,328,231 shares of the company traded hands. The stock has a market capitalization of $35.68 billion, a price-to-earnings ratio of 8.39 and a beta of 1.62. The company’s 50 day moving average is $78.74 and its 200-day moving average is $75.82. Prudential Financial Inc. has a 12 month low of $57.19 and a 12 month high of $88.77.
Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $1.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.51 by $0.67. Prudential Financial had a return on equity of 8.11% and a net margin of 8.90%. During the same quarter last year, the firm earned $2.91 EPS. Equities research analysts forecast that Prudential Financial Inc. will post ($0.01) earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Tuesday, August 23rd were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, August 19th. This represents a $2.80 annualized dividend and a dividend yield of 3.43%. Prudential Financial’s dividend payout ratio is currently 28.78%.
Several brokerages have recently issued reports on PRU. Goldman Sachs Group Inc. upgraded shares of Prudential Financial from a “neutral” rating to a “buy” rating and lifted their target price for the company from $80.00 to $93.00 in a research report on Friday, September 23rd. Zacks Investment Research lowered shares of Prudential Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, June 21st. Citigroup Inc. lowered their price target on shares of Prudential Financial from $83.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, July 7th. Evercore ISI assumed coverage on shares of Prudential Financial in a research report on Wednesday, July 6th. They set a “hold” rating and a $78.00 price target on the stock. Finally, Bank of America Corp. lowered shares of Prudential Financial from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $89.33.
In related news, insider Charles F. Lowrey sold 41,644 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $80.00, for a total value of $3,331,520.00. Following the sale, the insider now directly owns 98,307 shares of the company’s stock, valued at $7,864,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen Pelletier sold 4,470 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $76.36, for a total transaction of $341,329.20. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
Prudential Financial Company Profile
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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