Sheaff Brock Investment Advisors LLC trimmed its position in Prudential Financial, Inc. (NYSE:PRU) by 13.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,291 shares of the financial services provider’s stock after selling 688 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Prudential Financial were worth $464,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Hudock Capital Group LLC lifted its holdings in shares of Prudential Financial by 0.7% in the second quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock worth $123,000 after buying an additional 8 shares in the last quarter. First Personal Financial Services lifted its holdings in shares of Prudential Financial by 3.4% in the first quarter. First Personal Financial Services now owns 1,407 shares of the financial services provider’s stock worth $150,000 after buying an additional 46 shares in the last quarter. Guardian Life Insurance Co. of America lifted its holdings in shares of Prudential Financial by 0.3% in the first quarter. Guardian Life Insurance Co. of America now owns 1,658 shares of the financial services provider’s stock worth $177,000 after buying an additional 5 shares in the last quarter. Accurate Investment Solutions Inc. lifted its holdings in shares of Prudential Financial by 2.3% in the second quarter. Accurate Investment Solutions Inc. now owns 1,664 shares of the financial services provider’s stock worth $180,000 after buying an additional 38 shares in the last quarter. Finally, Trust Co. of Vermont lifted its holdings in shares of Prudential Financial by 28.5% in the second quarter. Trust Co. of Vermont now owns 1,711 shares of the financial services provider’s stock worth $185,000 after buying an additional 380 shares in the last quarter. 64.46% of the stock is currently owned by hedge funds and other institutional investors.
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A number of brokerages have recently issued reports on PRU. Wells Fargo & Company reissued a “hold” rating on shares of Prudential Financial in a report on Tuesday, June 6th. BidaskClub downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Credit Suisse Group lowered their price target on shares of Prudential Financial from $121.00 to $120.00 and set a “neutral” rating on the stock in a report on Tuesday, May 23rd. Royal Bank Of Canada reissued a “hold” rating and issued a $113.00 price target on shares of Prudential Financial in a report on Tuesday, June 27th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating on shares of Prudential Financial in a report on Friday, August 11th. Ten research 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 company’s stock. The company presently has an average rating of “Buy” and an average target price of $111.49.
Prudential Financial, Inc. (PRU) opened at 98.91 on Friday. Prudential Financial, Inc. has a 12 month low of $77.68 and a 12 month high of $115.26. The company has a market capitalization of $42.23 billion, a PE ratio of 11.04 and a beta of 1.49. The firm’s 50-day moving average is $106.50 and its 200-day moving average is $107.39.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.70 by $0.61. The firm had revenue of $13.03 billion for the quarter, compared to analysts’ expectations of $12.45 billion. Prudential Financial had a return on equity of 8.98% and a net margin of 7.15%. During the same period last year, the company earned $1.84 earnings per share. Equities analysts anticipate that Prudential Financial, Inc. will post $10.14 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Tuesday, August 22nd will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, August 18th. This represents a $3.00 annualized dividend and a dividend yield of 3.03%. Prudential Financial’s dividend payout ratio (DPR) is 33.63%.
In other news, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the company’s stock in a transaction that occurred 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 sale, the chairman now directly owns 456,121 shares of the company’s stock, valued at approximately $50,173,310. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen Pelletier sold 4,133 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $112.18, for a total value of $463,639.94. Following the sale, the insider now directly owns 10,924 shares in the company, valued at $1,225,454.32. The disclosure for this sale can be found here. Insiders have sold a total of 220,615 shares of company stock worth $24,276,660 over the last ninety days. Insiders own 0.66% of the company’s stock.
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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