Public Employees Retirement Association of Colorado Cuts Position in Prudential Financial Inc. (PRU)
Public Employees Retirement Association of Colorado cut its position in shares of 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 fund owned 900,568 shares of the company’s stock after selling 4,901 shares during the period. Public Employees Retirement Association of Colorado owned 0.20% of Prudential Financial worth $64,247,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Americafirst Capital Management LLC acquired a new position in shares of Prudential Financial during the second quarter worth approximately $100,000. Gierl Augustine Investment Management Inc increased its position in shares of Prudential Financial by 14.4% in the second quarter. Gierl Augustine Investment Management Inc now owns 1,632 shares of the company’s stock worth $116,000 after buying an additional 206 shares in the last quarter. Howard Hughes Medical Institute acquired a new position in shares of Prudential Financial during the first quarter worth approximately $119,000. Seven Eight Capital LLC increased its position in shares of Prudential Financial by 757.0% in the first quarter. Seven Eight Capital LLC now owns 2,151 shares of the company’s stock worth $155,000 after buying an additional 1,900 shares in the last quarter. Finally, ClariVest Asset Management LLC increased its position in shares of Prudential Financial by 540.0% in the second quarter. ClariVest Asset Management LLC now owns 2,176 shares of the company’s stock worth $156,000 after buying an additional 1,836 shares in the last quarter. 60.62% of the stock is currently owned by institutional investors and hedge funds.
Shares of Prudential Financial Inc. (NYSE:PRU) traded down 0.56% during mid-day trading on Friday, reaching $84.53. 2,470,106 shares of the company traded hands. Prudential Financial Inc. has a 52-week low of $57.19 and a 52-week high of $88.77. The stock’s 50 day moving average is $79.54 and its 200 day moving average is $76.11. The stock has a market capitalization of $36.94 billion, a PE ratio of 8.68 and a beta of 1.68.
Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, August 3rd. The company reported $1.84 EPS 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 firm earned $2.91 EPS. On average, analysts anticipate that Prudential Financial Inc. will post ($0.01) earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Tuesday, August 23rd were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.31%. The ex-dividend date was Friday, August 19th. Prudential Financial’s payout ratio is currently 28.78%.
PRU has been the subject of a number of recent analyst reports. Goldman Sachs Group Inc. raised shares of Prudential Financial from a “neutral” rating to a “buy” rating and raised their price target for the company from $80.00 to $93.00 in a report on Friday, September 23rd. Deutsche Bank AG lowered their price target on shares of Prudential Financial from $90.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, July 7th. Citigroup Inc. lowered their price target on shares of Prudential Financial from $83.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, July 7th. Evercore ISI initiated coverage on shares of Prudential Financial in a report on Wednesday, July 6th. They set a “hold” rating and a $78.00 price target for the company. Finally, Zacks Investment Research raised shares of Prudential Financial from a “sell” rating to a “hold” rating in a report on Thursday, July 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $89.33.
In related news, insider Charles F. Lowrey sold 41,644 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 98,307 shares in the company, valued at approximately $7,864,560. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Stephen Pelletier sold 4,470 shares of the company’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $76.36, for a total transaction of $341,329.20. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.
About Prudential Financial
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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