Pathstone Family Office LLC Trims Holdings in Prudential Financial, Inc. (PRU)

Pathstone Family Office LLC lessened its position in Prudential Financial, Inc. (NYSE:PRU) by 34.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 49 shares of the financial services provider’s stock after selling 26 shares during the period. Pathstone Family Office LLC’s holdings in Prudential Financial were worth $1,518,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. grew its stake 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 acquiring an additional 934,352 shares during the period. Vanguard Group Inc. grew its stake 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 valued at $3,229,469,000 after acquiring an additional 968,500 shares during the period. Geode Capital Management LLC grew its stake 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 valued at $457,822,000 after acquiring an additional 368,321 shares during the period. Ameriprise Financial Inc. grew its stake 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 valued at $449,637,000 after acquiring an additional 442,168 shares during the period. Finally, LSV Asset Management grew its stake 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 valued at $364,741,000 after acquiring an additional 32,998 shares during the period. 64.45% of the stock is owned by hedge funds and other institutional investors.

Shares of Prudential Financial, Inc. (PRU) traded down 0.4148% on Wednesday, hitting $103.8773. The company had a trading volume of 199,934 shares. The firm’s 50 day moving average price is $104.48 and its 200-day moving average price is $106.88. Prudential Financial, Inc. has a 52 week low of $78.50 and a 52 week high of $115.26. The stock has a market capitalization of $44.36 billion, a PE ratio of 11.5973 and a beta of 1.49.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.70 by ($0.61). Prudential Financial had a net margin of 7.15% and a return on equity of 8.98%. The company had revenue of $13.03 billion for the quarter, compared to the consensus estimate of $12.45 billion. During the same period last year, the business earned $1.84 EPS. Analysts forecast that Prudential Financial, Inc. will post $10.14 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Tuesday, August 22nd were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Friday, August 18th. Prudential Financial’s dividend payout ratio (DPR) is presently 33.63%.

In related news, insider Stephen Pelletier sold 4,133 shares of the firm’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 transaction of $463,639.94. Following the completion of the transaction, the insider now owns 10,924 shares of the company’s stock, valued at approximately $1,225,454.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Nicholas C. Silitch sold 14,897 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $110.00, for a total value of $1,638,670.00. Following the transaction, the insider now directly 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 ninety days, insiders have sold 220,615 shares of company stock valued at $24,276,660. 0.66% of the stock is owned by corporate insiders.

PRU has been the subject of a number of research reports. Wells Fargo & Company reissued a “hold” rating on shares of Prudential Financial in a research note on Thursday, August 3rd. BidaskClub raised Prudential Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Royal Bank Of Canada reissued a “hold” rating and issued a $117.00 price objective on shares of Prudential Financial in a research note on Wednesday, September 6th. ValuEngine raised Prudential Financial from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research cut Prudential Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Ten research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $111.49.

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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.

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

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