Wesbanco Bank Inc. Acquires 1,212 Shares of Prudential Financial, Inc. (PRU)
Wesbanco Bank Inc. raised its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 1.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 66,956 shares of the financial services provider’s stock after buying an additional 1,212 shares during the period. Wesbanco Bank Inc.’s holdings in Prudential Financial were worth $7,240,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the stock. 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 worth $177,000 after buying an additional 5 shares during the period. 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 worth $123,000 after buying an additional 8 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in shares of Prudential Financial by 0.9% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,018 shares of the financial services provider’s stock worth $218,000 after buying an additional 18 shares during the period. Trust Co increased its stake in shares of Prudential Financial by 1.0% in the first quarter. Trust Co now owns 2,024 shares of the financial services provider’s stock worth $216,000 after buying an additional 20 shares during the period. Finally, Cleararc Capital Inc. increased its stake in shares of Prudential Financial by 0.4% in the first quarter. Cleararc Capital Inc. now owns 10,492 shares of the financial services provider’s stock worth $1,119,000 after buying an additional 38 shares during the period. Hedge funds and other institutional investors own 64.44% of the company’s stock.
Shares of Prudential Financial, Inc. (NYSE:PRU) traded up 0.75% during mid-day trading on Wednesday, hitting $102.08. 302,849 shares of the company were exchanged. Prudential Financial, Inc. has a 12-month low of $77.01 and a 12-month high of $115.26. The stock has a market cap of $43.59 billion, a PE ratio of 11.40 and a beta of 1.50. The stock’s 50-day moving average price is $109.15 and its 200 day moving average price is $107.92.
Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share 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 period in the previous year, the firm posted $1.84 earnings per share. On average, equities analysts anticipate that Prudential Financial, Inc. will post $10.14 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Tuesday, August 22nd will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $3.00 annualized dividend and a yield of 2.96%. Prudential Financial’s dividend payout ratio (DPR) is presently 33.63%.
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PRU has been the subject of a number of recent research reports. Wells Fargo & Co reiterated a “hold” rating on shares of Prudential Financial in a report on Thursday, May 4th. Credit Suisse Group lowered their price target on shares of Prudential Financial from $121.00 to $120.00 and set a “neutral” rating for the company in a report on Tuesday, May 23rd. ValuEngine upgraded shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Zacks Investment Research downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Finally, BidaskClub upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a report on Friday, June 16th. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Prudential Financial currently has an average rating of “Buy” and a consensus target price of $111.21.
In related news, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $110.00, for a total value of $22,174,350.00. Following the completion of the sale, the chairman now directly owns 456,121 shares in the company, valued at approximately $50,173,310. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Pelletier sold 4,133 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $112.18, for a total value of $463,639.94. Following the completion of the sale, the insider now owns 10,924 shares of the company’s stock, valued at $1,225,454.32. The disclosure for this sale can be found here. Insiders sold a total of 220,615 shares of company stock valued at $24,276,660 over the last 90 days. 0.66% 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, 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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