Nordea Investment Management AB raised its position in Prudential Financial, Inc. (NYSE:PRU) by 1.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 771,169 shares of the financial services provider’s stock after purchasing an additional 10,423 shares during the quarter. Nordea Investment Management AB owned approximately 0.18% of Prudential Financial worth $81,991,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. boosted its stake in shares of Prudential Financial by 2.9% during the 2nd quarter. BlackRock Inc. now owns 33,155,309 shares of the financial services provider’s stock worth $3,585,415,000 after acquiring an additional 934,352 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Prudential Financial by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 30,885,285 shares of the financial services provider’s stock worth $3,339,935,000 after purchasing an additional 612,799 shares during the last quarter. Capital Research Global Investors raised its holdings in Prudential Financial by 1.2% in the 2nd quarter. Capital Research Global Investors now owns 13,662,673 shares of the financial services provider’s stock valued at $1,477,481,000 after acquiring an additional 162,833 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Prudential Financial by 11.9% in the 2nd 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 in the last quarter. Finally, LSV Asset Management raised its holdings in shares of Prudential Financial by 1.0% in the 2nd quarter. LSV Asset Management now owns 3,372,864 shares of the financial services provider’s stock worth $364,741,000 after buying an additional 32,998 shares in the last quarter. Hedge funds and other institutional investors own 64.07% of the company’s stock.
Shares of Prudential Financial, Inc. (PRU) traded down $0.78 on Monday, reaching $108.92. The company’s stock had a trading volume of 575,600 shares, compared to its average volume of 1,842,636. The company has a market cap of $46,880.00, a price-to-earnings ratio of 10.52, a price-to-earnings-growth ratio of 1.23 and a beta of 1.56. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.13 and a quick ratio of 0.13. Prudential Financial, Inc. has a 52-week low of $97.88 and a 52-week high of $115.26.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.71 by $0.30. The company had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $12.24 billion. Prudential Financial had a return on equity of 9.51% and a net margin of 7.71%. During the same quarter in the prior year, the business posted $2.66 EPS. equities analysts forecast that Prudential Financial, Inc. will post 10.38 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Monday, November 27th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Friday, November 24th. Prudential Financial’s dividend payout ratio (DPR) is currently 30.24%.
A number of equities analysts have recently issued reports on the company. Wells Fargo & Company reissued a “hold” rating on shares of Prudential Financial in a report on Thursday, August 3rd. BidaskClub raised Prudential Financial from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Royal Bank Of Canada restated a “hold” rating and set a $119.00 price target on shares of Prudential Financial in a research report on Friday, November 3rd. B. Riley restated a “buy” rating on shares of Prudential Financial in a research report on Monday, November 6th. Finally, ValuEngine lowered Prudential Financial from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 10th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $115.64.
In other news, insider Nicholas C. Silitch sold 44,860 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $111.77, for a total value of $5,014,002.20. Following the transaction, the insider now owns 27,927 shares of the company’s stock, valued at approximately $3,121,400.79. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Charles F. Lowrey sold 44,630 shares of the stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $111.91, for a total value of $4,994,543.30. Following the completion of the transaction, the executive vice president now directly owns 79,354 shares in the company, valued at approximately $8,880,506.14. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.
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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.
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