Systematic Financial Management LP continued to hold its position in Prudential Financial, Inc. (NYSE:PRU) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,300 shares of the financial services provider’s stock at the end of the 2nd quarter. Systematic Financial Management LP’s holdings in Prudential Financial were worth $357,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of PRU. BlackRock Inc. raised its stake in shares of Prudential Financial by 3,296.9% during the 1st quarter. BlackRock Inc. now owns 32,220,957 shares of the financial services provider’s stock worth $3,437,330,000 after purchasing an additional 31,272,429 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Prudential Financial by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 30,272,486 shares of the financial services provider’s stock worth $3,229,469,000 after purchasing an additional 968,500 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Prudential Financial by 2,179.5% during the 2nd quarter. Acadian Asset Management LLC now owns 730,899 shares of the financial services provider’s stock worth $79,040,000 after purchasing an additional 698,835 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Prudential Financial by 85.2% during the 2nd quarter. Bank of Montreal Can now owns 1,452,721 shares of the financial services provider’s stock worth $157,097,000 after purchasing an additional 668,233 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. raised its stake in shares of Prudential Financial by 558.9% during the 1st quarter. NN Investment Partners Holdings N.V. now owns 777,602 shares of the financial services provider’s stock worth $82,954,000 after purchasing an additional 659,595 shares in the last quarter. 64.45% of the stock is owned by institutional investors.
Prudential Financial, Inc. (NYSE:PRU) opened at 105.17 on Thursday. Prudential Financial, Inc. has a 52-week low of $78.50 and a 52-week high of $115.26. The company has a market cap of $44.91 billion, a P/E ratio of 11.74 and a beta of 1.49. The company’s 50 day moving average price is $104.48 and its 200 day moving average price is $106.88.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.70 by ($0.61). The company had revenue of $13.03 billion for the quarter, compared to analyst estimates 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 in the prior year, the company earned $1.84 EPS. Equities research analysts anticipate that Prudential Financial, Inc. will post $10.14 EPS for the current fiscal year.
The business also recently declared 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 2.85%. The ex-dividend date of this dividend was Friday, August 18th. Prudential Financial’s dividend payout ratio is currently 33.63%.
In other Prudential Financial news, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the company’s stock in a transaction 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 completion of the sale, the chairman now directly owns 456,121 shares in the company, valued at $50,173,310. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas C. Silitch sold 14,897 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $110.00, for a total value of $1,638,670.00. Following the sale, the insider now owns 21,274 shares of the company’s stock, valued at $2,340,140. The disclosure for this sale can be found here. Insiders have sold 220,615 shares of company stock worth $24,276,660 in the last three months. 0.66% of the stock is currently owned by company insiders.
PRU has been the subject of a number of recent research reports. ValuEngine raised Prudential Financial from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Wells Fargo & Company reaffirmed a “hold” rating on shares of Prudential Financial in a research note on Tuesday, June 6th. Zacks Investment Research lowered Prudential Financial from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. BidaskClub raised Prudential Financial from a “sell” rating to a “hold” rating in a report on Friday, June 16th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $113.00 price objective on shares of Prudential Financial in a report on Tuesday, June 27th. Ten analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $111.49.
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About Prudential Financial
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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