BB&T Investment Services Inc. Buys Shares of 6,644 Prudential Financial, Inc. (PRU)
BB&T Investment Services Inc. bought a new position in shares of Prudential Financial, Inc. (NYSE:PRU) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,644 shares of the financial services provider’s stock, valued at approximately $720,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of PRU. BlackRock Inc. increased its stake in 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 increased its stake in 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. increased its stake in 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 increased its stake in 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, Arrowstreet Capital Limited Partnership increased its stake in Prudential Financial by 48.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,247,204 shares of the financial services provider’s stock worth $243,013,000 after purchasing an additional 737,458 shares in the last quarter. 64.45% of the stock is owned by institutional investors and hedge funds.
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In other Prudential Financial news, insider Stephen Pelletier sold 4,133 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $112.18, for a total value of $463,639.94. Following the completion of the transaction, the insider now owns 10,924 shares in the company, valued at approximately $1,225,454.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas C. Silitch sold 14,897 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.
Prudential Financial, Inc. (NYSE:PRU) traded up 0.15% during midday trading on Wednesday, hitting $110.17. The stock had a trading volume of 628,674 shares. The stock’s 50-day moving average is $104.06 and its 200-day moving average is $106.62. The stock has a market capitalization of $47.04 billion, a PE ratio of 12.31 and a beta of 1.51. Prudential Financial, Inc. has a 1-year low of $82.45 and a 1-year high of $115.26.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings results 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 return on equity of 8.98% and a net margin of 7.15%. The company had revenue of $13.03 billion for the quarter, compared to the consensus estimate of $12.45 billion. During the same quarter last year, the company posted $1.84 EPS. On average, equities research analysts anticipate that Prudential Financial, Inc. will post $10.14 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Tuesday, August 22nd were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, August 18th. This represents a $3.00 annualized dividend and a yield of 2.73%. Prudential Financial’s dividend payout ratio (DPR) is currently 33.63%.
A number of analysts recently issued reports on PRU shares. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Prudential Financial in a research note on Friday, August 11th. BidaskClub raised Prudential Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 target price for the company in a research note on Tuesday. FBR & Co raised Prudential Financial from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $117.00 to $100.00 in a research note on Tuesday. Finally, Morgan Stanley increased their target price on Prudential Financial from $118.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 5th. Eight equities research 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. The company currently has an average rating of “Buy” and an average price target of $114.30.
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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