OMERS ADMINISTRATION Corp Purchases Shares of 20,800 Prudential Financial, Inc. (PRU)
OMERS ADMINISTRATION Corp purchased a new stake in Prudential Financial, Inc. (NYSE:PRU) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,800 shares of the financial services provider’s stock, valued at approximately $2,249,000.
Several other hedge funds also recently made changes to their positions in the company. Hudock Capital Group LLC increased its stake in shares of Prudential Financial by 0.7% in the second quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock valued at $123,000 after buying an additional 8 shares during the period. First Personal Financial Services increased its stake in shares of Prudential Financial by 3.4% in the first quarter. First Personal Financial Services now owns 1,407 shares of the financial services provider’s stock valued at $150,000 after buying an additional 46 shares during the period. Guardian Life Insurance Co. of America increased its stake in shares of Prudential Financial by 0.3% in the first quarter. Guardian Life Insurance Co. of America now owns 1,658 shares of the financial services provider’s stock valued at $177,000 after buying an additional 5 shares during the period. Accurate Investment Solutions Inc. increased its stake in shares of Prudential Financial by 2.3% in the second quarter. Accurate Investment Solutions Inc. now owns 1,664 shares of the financial services provider’s stock valued at $180,000 after buying an additional 38 shares during the period. Finally, Trust Co. of Vermont increased its stake in shares of Prudential Financial by 28.5% in the second quarter. Trust Co. of Vermont now owns 1,711 shares of the financial services provider’s stock valued at $185,000 after buying an additional 380 shares during the period. 64.44% of the stock is currently owned by institutional investors and hedge funds.
Prudential Financial, Inc. (PRU) opened at 101.32 on Wednesday. Prudential Financial, Inc. has a 12 month low of $77.01 and a 12 month high of $115.26. The stock’s 50 day moving average price is $109.15 and its 200 day moving average price is $107.92. The firm has a market capitalization of $43.26 billion, a PE ratio of 11.31 and a beta of 1.50.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 EPS for the quarter, missing analysts’ consensus estimates of $2.70 by $0.61. The business had revenue of $13.03 billion for the quarter, compared to analyst estimates of $12.45 billion. Prudential Financial had a return on equity of 8.98% and a net margin of 7.15%. During the same quarter last year, the firm posted $1.84 EPS. Equities research analysts expect that Prudential Financial, Inc. will post $10.14 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Tuesday, August 22nd will be issued a dividend of $0.75 per share. The ex-dividend date is Friday, August 18th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.96%. Prudential Financial’s dividend payout ratio (DPR) is presently 33.63%.
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Several brokerages recently issued reports on PRU. Wells Fargo & Company reissued a “hold” rating on shares of Prudential Financial in a report on Tuesday, June 6th. BidaskClub downgraded Prudential Financial from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Royal Bank Of Canada reissued a “hold” rating and issued a $113.00 price target on shares of Prudential Financial in a report on Tuesday, June 27th. Credit Suisse Group cut their price target on Prudential Financial from $121.00 to $120.00 and set a “neutral” rating on the stock in a report on Tuesday, May 23rd. Finally, Keefe, Bruyette & Woods reissued a “buy” rating on shares of Prudential Financial in a report on Friday, August 11th. Ten analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $111.21.
In other news, Chairman John R. Strangfeld, Jr. sold 201,585 shares of Prudential Financial 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 transaction, the chairman now owns 456,121 shares in the company, valued at $50,173,310. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nicholas C. Silitch sold 14,897 shares of Prudential Financial stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $110.00, for a total transaction of $1,638,670.00. Following the transaction, the insider now owns 21,274 shares in the company, valued at approximately $2,340,140. The disclosure for this sale can be found here. In the last quarter, insiders have sold 220,615 shares of company stock worth $24,276,660. 0.66% of the stock is owned by company 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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