Prudential Financial Inc. (PRU) Shares Bought by Sanders Capital LLC
Sanders Capital LLC increased its stake in shares of Prudential Financial Inc. (NYSE:PRU) by 0.5% during the second quarter, Holdings Channel reports. The firm owned 459,816 shares of the company’s stock after buying an additional 2,471 shares during the period. Sanders Capital LLC’s holdings in Prudential Financial were worth $32,803,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. Americafirst Capital Management LLC acquired a new position in Prudential Financial during the second quarter valued at approximately $100,000. Gierl Augustine Investment Management Inc increased its position in Prudential Financial by 14.4% in the second quarter. Gierl Augustine Investment Management Inc now owns 1,632 shares of the company’s stock valued at $116,000 after buying an additional 206 shares during the period. Howard Hughes Medical Institute acquired a new position in Prudential Financial during the first quarter valued at approximately $119,000. Seven Eight Capital LLC increased its position in Prudential Financial by 757.0% in the first quarter. Seven Eight Capital LLC now owns 2,151 shares of the company’s stock valued at $155,000 after buying an additional 1,900 shares during the period. Finally, ClariVest Asset Management LLC increased its position in Prudential Financial by 540.0% in the second quarter. ClariVest Asset Management LLC now owns 2,176 shares of the company’s stock valued at $156,000 after buying an additional 1,836 shares during the period. Hedge funds and other institutional investors own 60.62% of the company’s stock.
Shares of Prudential Financial Inc. (NYSE:PRU) traded down 0.56% on Friday, hitting $84.53. 2,470,106 shares of the stock were exchanged. Prudential Financial Inc. has a one year low of $57.19 and a one year high of $88.77. The firm has a market cap of $36.94 billion, a price-to-earnings ratio of 8.68 and a beta of 1.68. The firm’s 50 day moving average price is $79.54 and its 200 day moving average price is $76.11.
Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $1.84 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.51 by $0.67. Prudential Financial had a net margin of 8.90% and a return on equity of 8.11%. During the same quarter last year, the business earned $2.91 EPS. Equities analysts anticipate that Prudential Financial Inc. will post ($0.01) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Tuesday, August 23rd were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend was Friday, August 19th. Prudential Financial’s dividend payout ratio is currently 28.78%.
Several equities analysts have commented on the stock. Credit Suisse Group AG assumed coverage on shares of Prudential Financial in a research note on Friday. They issued a “neutral” rating for the company. Wells Fargo & Co. assumed coverage on shares of Prudential Financial in a research note on Friday, September 23rd. They issued a “market perform” rating for the company. Goldman Sachs Group Inc. upgraded shares of Prudential Financial from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $80.00 to $93.00 in a research note on Friday, September 23rd. Zacks Investment Research downgraded shares of Prudential Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, June 21st. Finally, Deutsche Bank AG dropped their price target on shares of Prudential Financial from $90.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, July 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Prudential Financial currently has a consensus rating of “Buy” and an average price target of $89.33.
In other Prudential Financial news, insider Charles F. Lowrey sold 41,644 shares of the firm’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $80.00, for a total transaction of $3,331,520.00. Following the completion of the transaction, the insider now directly owns 98,307 shares of the company’s stock, valued at approximately $7,864,560. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Robert Falzon sold 33,820 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $77.13, for a total transaction of $2,608,536.60. Following the transaction, the chief financial officer now directly owns 70,264 shares of the company’s stock, valued at $5,419,462.32. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
Prudential Financial Company Profile
Prudential Financial, Inc is a financial services company. The Company, through its subsidiaries and affiliates, provides a range of financial products and services, including life insurance, annuities and investment management. The Company’s divisions include U.S. Retirement Solutions and Investment Management Division; U.S.
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