Prudential Financial Inc. (PRU) Shares Bought by Sanders Capital LLC
Sanders Capital LLC boosted its position in Prudential Financial Inc. (NYSE:PRU) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 459,816 shares of the company’s stock after buying an additional 2,471 shares during the period. Sanders Capital LLC owned about 0.10% of Prudential Financial worth $32,803,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. Hexavest Inc. bought a new stake in shares of Prudential Financial during the second quarter valued at $54,008,000. Bank of Montreal Can bought a new stake in shares of Prudential Financial during the second quarter valued at $39,301,000. Panagora Asset Management Inc. boosted its stake in shares of Prudential Financial by 1,637.1% in the first quarter. Panagora Asset Management Inc. now owns 581,941 shares of the company’s stock valued at $42,028,000 after buying an additional 548,441 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Prudential Financial by 61.6% in the first quarter. Prudential Financial Inc. now owns 614,473 shares of the company’s stock valued at $44,378,000 after buying an additional 234,250 shares during the last quarter. Finally, Mount Lucas Management LP bought a new stake in shares of Prudential Financial during the first quarter valued at $11,726,000. Institutional investors own 60.62% of the company’s stock.
Shares of Prudential Financial Inc. (NYSE:PRU) traded down 0.56% during mid-day trading on Friday, hitting $84.53. The stock had a trading volume of 2,470,106 shares. The firm has a market cap of $36.94 billion, a PE ratio of 8.68 and a beta of 1.68. The stock’s 50-day moving average is $79.54 and its 200 day moving average is $76.11. Prudential Financial Inc. has a 12 month low of $57.19 and a 12 month high of $88.77.
Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, August 3rd. The company reported $1.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.51 by $0.67. Prudential Financial had a net margin of 8.90% and a return on equity of 8.11%. During the same quarter last year, the company posted $2.91 earnings per share. Equities research analysts predict that Prudential Financial Inc. will post ($0.01) earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Tuesday, August 23rd were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, August 19th. This represents a $2.80 annualized dividend and a yield of 3.31%. Prudential Financial’s dividend payout ratio (DPR) is presently 28.78%.
Several equities research analysts have weighed in on the company. Credit Suisse Group AG assumed coverage on Prudential Financial in a research note on Friday. They set a “neutral” rating on the stock. Wells Fargo & Co. assumed coverage on Prudential Financial in a research note on Friday, September 23rd. They set a “market perform” rating on the stock. Goldman Sachs Group Inc. raised Prudential Financial from a “neutral” rating to a “buy” rating and upped their target price for the company from $80.00 to $93.00 in a research note on Friday, September 23rd. Zacks Investment Research raised Prudential Financial from a “sell” rating to a “hold” rating in a research note on Thursday, July 14th. Finally, Deutsche Bank AG cut their target price on Prudential Financial from $90.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, July 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $89.33.
In related news, CFO Robert Falzon sold 33,820 shares of Prudential Financial stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $77.13, for a total value of $2,608,536.60. Following the completion of the sale, the chief financial officer now owns 70,264 shares in the company, valued at approximately $5,419,462.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charles F. Lowrey sold 41,644 shares of Prudential Financial stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $80.00, for a total transaction of $3,331,520.00. Following the completion of the sale, the insider now owns 98,307 shares of the company’s stock, valued at approximately $7,864,560. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.
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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