BT Investment Management Ltd Takes Position in Prudential Financial, Inc. (PRU)
BT Investment Management Ltd purchased a new position in Prudential Financial, Inc. (NYSE:PRU) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,893 shares of the financial services provider’s stock, valued at approximately $962,000.
A number of other hedge funds have also recently modified their holdings of PRU. BlackRock Inc. grew 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 worth $3,437,330,000 after purchasing an additional 31,272,429 shares during the period. Vanguard Group Inc. grew its stake in shares of 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 worth $3,229,469,000 after acquiring an additional 968,500 shares during the last quarter. AJO LP grew its stake in shares of Prudential Financial by 42.8% in the second quarter. AJO LP now owns 2,743,406 shares of the financial services provider’s stock worth $296,672,000 after acquiring an additional 821,881 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Prudential Financial by 2,179.5% in the second quarter. Acadian Asset Management LLC now owns 730,899 shares of the financial services provider’s stock worth $79,040,000 after acquiring an additional 698,835 shares during the last quarter. Finally, Bank of Montreal Can grew its stake in shares of Prudential Financial by 85.2% in the second quarter. Bank of Montreal Can now owns 1,452,721 shares of the financial services provider’s stock worth $157,097,000 after acquiring an additional 668,233 shares during the last quarter. 64.45% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently commented on the company. Wells Fargo & Company reissued a “hold” rating on shares of Prudential Financial in a research note on Thursday, August 3rd. BidaskClub raised Prudential Financial from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research downgraded Prudential Financial from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. ValuEngine raised Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Prudential Financial in a report on Friday, August 11th. Ten equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $111.49.
Shares of Prudential Financial, Inc. (PRU) opened at 104.31 on Wednesday. The company’s 50 day moving average price is $104.48 and its 200 day moving average price is $106.88. The stock has a market cap of $44.54 billion, a PE ratio of 11.65 and a beta of 1.49. Prudential Financial, Inc. has a 52-week low of $78.50 and a 52-week high of $115.26.
Prudential Financial (NYSE:PRU) last released its quarterly 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 during 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 company posted $1.84 EPS. On average, analysts anticipate that Prudential Financial, Inc. will post $10.14 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Tuesday, August 22nd were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, August 18th. This represents a $3.00 dividend on an annualized basis and a yield of 2.88%. Prudential Financial’s payout ratio is 33.63%.
In other Prudential Financial news, insider Stephen Pelletier sold 4,133 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $112.18, for a total transaction of $463,639.94. Following the completion of the sale, the insider now directly owns 10,924 shares in the company, valued at approximately $1,225,454.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Nicholas C. Silitch sold 14,897 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $110.00, for a total value of $1,638,670.00. Following the sale, the insider now owns 21,274 shares of the company’s stock, valued at $2,340,140. 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 in the last ninety days. 0.66% of the stock is currently owned by insiders.
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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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