Yorktown Management & Research Co Inc Has $1.82 Million Position in Prudential Financial Inc (PRU)
Yorktown Management & Research Co Inc boosted its position in shares of Prudential Financial Inc (NYSE:PRU) by 16.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,000 shares of the financial services provider’s stock after buying an additional 2,500 shares during the quarter. Yorktown Management & Research Co Inc’s holdings in Prudential Financial were worth $1,824,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Fox Run Management L.L.C. bought a new position in Prudential Financial in the second quarter valued at about $890,000. Assenagon Asset Management S.A. boosted its holdings in Prudential Financial by 628.0% in the second quarter. Assenagon Asset Management S.A. now owns 31,174 shares of the financial services provider’s stock valued at $2,915,000 after acquiring an additional 26,892 shares during the last quarter. World Asset Management Inc boosted its holdings in Prudential Financial by 2.2% in the second quarter. World Asset Management Inc now owns 26,268 shares of the financial services provider’s stock valued at $2,456,000 after acquiring an additional 559 shares during the last quarter. Amalgamated Bank boosted its holdings in Prudential Financial by 2.6% in the second quarter. Amalgamated Bank now owns 54,123 shares of the financial services provider’s stock valued at $5,061,000 after acquiring an additional 1,366 shares during the last quarter. Finally, Wealth Advisors of Tampa Bay LLC boosted its holdings in Prudential Financial by 6.3% in the second quarter. Wealth Advisors of Tampa Bay LLC now owns 14,594 shares of the financial services provider’s stock valued at $1,378,000 after acquiring an additional 871 shares during the last quarter. Institutional investors own 63.24% of the company’s stock.
PRU has been the topic of several recent research reports. Zacks Investment Research upgraded Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 price target on the stock in a report on Monday, October 8th. Morgan Stanley decreased their price target on Prudential Financial from $122.00 to $120.00 and set an “equal weight” rating on the stock in a report on Thursday, November 8th. Credit Suisse Group decreased their price target on Prudential Financial from $102.00 to $98.00 and set a “neutral” rating on the stock in a report on Friday, August 17th. Goldman Sachs Group upgraded Prudential Financial from a “buy” rating to a “conviction-buy” rating in a report on Monday, September 10th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $122.00 price target on shares of Prudential Financial in a report on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $119.31.
Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, November 7th. The financial services provider reported $3.15 earnings per share for the quarter, missing the consensus estimate of $3.16 by ($0.01). Prudential Financial had a net margin of 12.59% and a return on equity of 10.20%. The company had revenue of $14.43 billion during the quarter, compared to analyst estimates of $13.51 billion. During the same period in the previous year, the company posted $3.01 EPS. Research analysts anticipate that Prudential Financial Inc will post 12.2 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Monday, November 26th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Friday, November 23rd. Prudential Financial’s payout ratio is 34.03%.
In related news, major shareholder Prudential Financial Inc bought 880,000 shares of the business’s stock in a transaction on Tuesday, October 16th. The shares were purchased at an average price of $25.00 per share, with a total value of $22,000,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott Sleyster sold 23,300 shares of the stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $99.74, for a total value of $2,323,942.00. Following the completion of the transaction, the insider now directly owns 57,758 shares in the company, valued at approximately $5,760,782.92. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.
Prudential Financial Company Profile
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through U.S. Individual Solutions, U.S. Workplace Solutions, Investment Management, and International Insurance divisions.
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