Dana Investment Advisors Inc. Has $29.97 Million Holdings in Prudential Financial, Inc. (PRU)
Dana Investment Advisors Inc. grew its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 22.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 277,110 shares of the financial services provider’s stock after purchasing an additional 51,302 shares during the period. Prudential Financial comprises 1.4% of Dana Investment Advisors Inc.’s holdings, making the stock its 22nd largest holding. Dana Investment Advisors Inc. owned 0.06% of Prudential Financial worth $29,967,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in PRU. BlackRock Inc. grew its position in shares of Prudential Financial by 3,296.9% during the 1st 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 in the last quarter. Janus Henderson Group PLC grew its position in shares of Prudential Financial by 1,997.1% during the 2nd quarter. Janus Henderson Group PLC now owns 1,204,160 shares of the financial services provider’s stock worth $130,218,000 after purchasing an additional 1,146,739 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Prudential Financial by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 30,272,486 shares of the financial services provider’s stock worth $3,229,469,000 after purchasing an additional 968,500 shares in the last quarter. AJO LP grew its position in shares of Prudential Financial by 42.8% during the 2nd quarter. AJO LP now owns 2,743,406 shares of the financial services provider’s stock worth $296,672,000 after purchasing an additional 821,881 shares in the last quarter. Finally, Acadian Asset Management LLC grew its position in shares of Prudential Financial by 2,179.5% during the 2nd quarter. Acadian Asset Management LLC now owns 730,899 shares of the financial services provider’s stock worth $79,040,000 after purchasing an additional 698,835 shares in the last quarter. Hedge funds and other institutional investors own 64.45% of the company’s stock.
In other Prudential Financial news, insider Nicholas C. Silitch sold 14,897 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $110.00, for a total value of $1,638,670.00. Following the completion of the transaction, the insider now owns 21,274 shares of the company’s stock, valued at approximately $2,340,140. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction, the insider now directly owns 10,924 shares of the company’s stock, valued at approximately $1,225,454.32. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.
A number of brokerages have issued reports on PRU. Morgan Stanley increased their target price on shares of Prudential Financial from $118.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Thursday. Royal Bank Of Canada restated a “hold” rating and set a $117.00 target price on shares of Prudential Financial in a research report on Wednesday, September 6th. BidaskClub lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Prudential Financial in a report on Friday, August 11th. Finally, Wells Fargo & Company reaffirmed a “hold” rating on shares of Prudential Financial in a report on Thursday, August 3rd. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Prudential Financial has a consensus rating of “Buy” and an average target price of $113.66.
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Shares of Prudential Financial, Inc. (NYSE PRU) traded up 1.57% during trading on Thursday, reaching $109.54. 452,598 shares of the company traded hands. The stock has a market capitalization of $46.77 billion, a PE ratio of 12.23 and a beta of 1.51. Prudential Financial, Inc. has a 12-month low of $82.45 and a 12-month high of $115.26. The firm’s 50-day moving average is $103.28 and its 200-day moving average is $106.52.
Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 EPS for the quarter, missing the Zacks’ consensus estimate of $2.70 by ($0.61). Prudential Financial had a return on equity of 8.98% and a net margin of 7.15%. The company had revenue of $13.03 billion during the quarter, compared to analysts’ expectations of $12.45 billion. During the same period in the prior year, the firm earned $1.84 EPS. On average, equities analysts predict that Prudential Financial, Inc. will post $10.14 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Tuesday, August 22nd were paid a $0.75 dividend. The ex-dividend date was Friday, August 18th. This represents a $3.00 dividend on an annualized basis and a yield of 2.78%. Prudential Financial’s dividend payout ratio is presently 33.63%.
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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