Prudential Financial Inc. (PRU) Stake Increased by Great Lakes Advisors LLC
Great Lakes Advisors LLC boosted its stake in Prudential Financial Inc. (NYSE:PRU) by 1.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 640,182 shares of the company’s stock after buying an additional 7,515 shares during the period. Prudential Financial comprises about 1.4% of Great Lakes Advisors LLC’s holdings, making the stock its 18th largest position. Great Lakes Advisors LLC owned 0.15% of Prudential Financial worth $52,272,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Seven Eight Capital LLC boosted its position in Prudential Financial by 757.0% in the first quarter. Seven Eight Capital LLC now owns 2,151 shares of the company’s stock valued at $155,000 after buying an additional 1,900 shares in the last quarter. Squarepoint Ops LLC boosted its position in Prudential Financial by 144.9% in the first quarter. Squarepoint Ops LLC now owns 11,738 shares of the company’s stock valued at $848,000 after buying an additional 6,945 shares in the last quarter. First Republic Investment Management Inc. boosted its position in Prudential Financial by 37.1% in the first quarter. First Republic Investment Management Inc. now owns 25,345 shares of the company’s stock valued at $1,830,000 after buying an additional 6,856 shares in the last quarter. Fulton Bank N.A. boosted its position in Prudential Financial by 6.3% in the second quarter. Fulton Bank N.A. now owns 3,214 shares of the company’s stock valued at $229,000 after buying an additional 190 shares in the last quarter. Finally, Osborn Rohs Williams & Donohoe Ltd boosted its position in Prudential Financial by 10.3% in the second quarter. Osborn Rohs Williams & Donohoe Ltd now owns 19,737 shares of the company’s stock valued at $1,408,000 after buying an additional 1,846 shares in the last quarter. 60.46% of the stock is currently owned by hedge funds and other institutional investors.
Prudential Financial Inc. (NYSE:PRU) traded up 1.63% on Wednesday, reaching $101.40. 225,114 shares of the company’s stock were exchanged. The firm has a market cap of $43.60 billion, a PE ratio of 9.56 and a beta of 1.68. The firm’s 50-day moving average is $89.97 and its 200-day moving average is $79.94. Prudential Financial Inc. has a 12 month low of $57.19 and a 12 month high of $101.96.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $2.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.49 by $0.17. Prudential Financial had a net margin of 8.92% and a return on equity of 7.73%. During the same quarter in the prior year, the business earned $2.40 earnings per share. On average, equities analysts forecast that Prudential Financial Inc. will post $8.99 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Tuesday, November 22nd will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date is Friday, November 18th. Prudential Financial’s dividend payout ratio (DPR) is currently 26.32%.
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PRU has been the topic of several research reports. Goldman Sachs Group Inc. raised Prudential Financial from a “neutral” rating to a “buy” rating and upped their price target for the company from $80.00 to $93.00 in a report on Friday, September 23rd. Wells Fargo & Co. assumed coverage on Prudential Financial in a report on Friday, September 23rd. They issued a “market perform” rating on the stock. Credit Suisse Group AG assumed coverage on shares of Prudential Financial in a research report on Friday, October 7th. They set a “neutral” rating and a $89.00 price objective on the stock. FBR & Co cut shares of Prudential Financial from an “outperform” rating to a “market perform” rating and set a $86.00 price objective on the stock. in a research report on Tuesday, October 18th. They noted that the move was a valuation call. Finally, Bank of America Corp. upgraded shares of Prudential Financial from an “underperform” rating to a “buy” rating in a research report on Friday, November 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Prudential Financial presently has an average rating of “Buy” and a consensus target price of $91.60.
In related news, insider Scott Sleyster sold 9,379 shares of the firm’s stock in a transaction on Friday, October 14th. The shares were sold at an average price of $85.06, for a total value of $797,777.74. Following the completion of the transaction, the insider now owns 34,185 shares of the company’s stock, valued at $2,907,776.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Sharon C. Taylor sold 85,490 shares of the firm’s stock in a transaction on Monday, October 10th. The shares were sold at an average price of $84.99, for a total transaction of $7,265,795.10. Following the completion of the transaction, the senior vice president now directly owns 77,221 shares of the company’s stock, valued at approximately $6,563,012.79. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.
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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