Prudential Financial, Inc. (NYSE:PRU) Stake Raised by APG Asset Management N.V.
APG Asset Management N.V. boosted its stake in Prudential Financial, Inc. (NYSE:PRU) by 1.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 995,020 shares of the financial services provider’s stock after buying an additional 11,600 shares during the period. APG Asset Management N.V. owned about 0.23% of Prudential Financial worth $107,601,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of the company. BlackRock Inc. raised its stake in Prudential Financial by 3,296.9% in the first quarter. BlackRock Inc. now owns 32,220,957 shares of the financial services provider’s stock valued at $3,437,330,000 after buying an additional 31,272,429 shares during the period. Vanguard Group Inc. raised its stake in Prudential Financial by 3.3% in the first quarter. Vanguard Group Inc. now owns 30,272,486 shares of the financial services provider’s stock valued at $3,229,469,000 after buying an additional 968,500 shares during the period. Geode Capital Management LLC raised its stake in Prudential Financial by 9.4% in the first quarter. Geode Capital Management LLC now owns 4,297,520 shares of the financial services provider’s stock valued at $457,822,000 after buying an additional 368,321 shares during the period. Dimensional Fund Advisors LP raised its stake in Prudential Financial by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,998,472 shares of the financial services provider’s stock valued at $319,880,000 after buying an additional 81,327 shares during the period. Finally, Legal & General Group Plc raised its stake in Prudential Financial by 1.7% in the first quarter. Legal & General Group Plc now owns 2,247,784 shares of the financial services provider’s stock valued at $239,794,000 after buying an additional 38,540 shares during the period. Institutional investors own 63.51% of the company’s stock.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.70 by $0.61. Prudential Financial had a net margin of 7.15% and a return on equity of 8.98%. The company had revenue of $13.03 billion for the quarter, compared to analysts’ expectations of $12.45 billion. During the same period in the prior year, the firm earned $1.84 earnings per share.
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PRU has been the subject of several research reports. Deutsche Bank AG boosted their price objective on Prudential Financial from $114.00 to $117.00 and gave the stock a “buy” rating in a research note on Wednesday, April 19th. Wells Fargo & Company restated a “hold” rating on shares of Prudential Financial in a research report on Thursday. BidaskClub upgraded Prudential Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. ValuEngine upgraded Prudential Financial from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research lowered Prudential Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $111.21.
In other news, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were 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 of the company’s stock, valued at approximately $50,173,310. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.66% of the stock is owned by insiders.
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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