LS Investment Advisors LLC Raises Position in Prudential Financial Inc. (PRU)
LS Investment Advisors LLC raised its stake in Prudential Financial Inc. (NYSE:PRU) by 2.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 14,835 shares of the company’s stock after buying an additional 420 shares during the period. LS Investment Advisors LLC’s holdings in Prudential Financial were worth $1,058,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the company. Scotia Capital Inc. boosted its position in Prudential Financial by 94.5% in the first quarter. Scotia Capital Inc. now owns 22,104 shares of the company’s stock valued at $1,597,000 after buying an additional 10,737 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Prudential Financial by 16.9% in the first quarter. Lazard Asset Management LLC now owns 3,116 shares of the company’s stock worth $225,000 after buying an additional 451 shares in the last quarter. RPg Family Wealth Advisory LLC boosted its stake in Prudential Financial by 1.5% in the first quarter. RPg Family Wealth Advisory LLC now owns 35,074 shares of the company’s stock worth $2,533,000 after buying an additional 535 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in Prudential Financial by 5.4% in the first quarter. Meeder Asset Management Inc. now owns 69,545 shares of the company’s stock worth $5,022,000 after buying an additional 3,533 shares in the last quarter. Finally, Rafferty Asset Management LLC boosted its stake in Prudential Financial by 49.2% in the first quarter. Rafferty Asset Management LLC now owns 59,771 shares of the company’s stock worth $4,317,000 after buying an additional 19,718 shares in the last quarter. Institutional investors own 60.62% of the company’s stock.
Shares of Prudential Financial Inc. (NYSE:PRU) traded down 0.67% on Tuesday, hitting $84.37. The company had a trading volume of 2,507,575 shares. Prudential Financial Inc. has a 12-month low of $57.19 and a 12-month high of $88.77. The company has a 50 day moving average of $80.02 and a 200-day moving average of $76.33. The company has a market cap of $36.87 billion, a price-to-earnings ratio of 8.67 and a beta of 1.68.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $1.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.51 by $0.67. Prudential Financial had a return on equity of 8.11% and a net margin of 8.90%. During the same quarter last year, the business posted $2.91 earnings per share. On average, analysts forecast that Prudential Financial Inc. will post ($0.01) earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Tuesday, August 23rd were given a $0.70 dividend. The ex-dividend date was Friday, August 19th. This represents a $2.80 annualized dividend and a yield of 3.32%. Prudential Financial’s dividend payout ratio (DPR) is 28.78%.
A number of equities research analysts recently weighed in on the company. Evercore ISI assumed coverage on Prudential Financial in a report on Wednesday, July 6th. They issued a “hold” rating and a $78.00 price target on the stock. Zacks Investment Research upgraded Prudential Financial from a “sell” rating to a “hold” rating in a report on Thursday, July 14th. Goldman Sachs Group Inc. upgraded Prudential Financial from a “neutral” rating to a “buy” rating and upped their price target for the stock from $80.00 to $93.00 in a report on Friday, September 23rd. Citigroup Inc. lowered their price target on Prudential Financial from $83.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, July 7th. Finally, Credit Suisse Group AG assumed coverage on Prudential Financial in a report on Friday. They issued a “neutral” rating and a $89.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $89.13.
In other Prudential Financial news, insider Charles F. Lowrey sold 50,322 shares of Prudential Financial stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $85.00, for a total transaction of $4,277,370.00. Following the transaction, the insider now directly owns 92,458 shares in the company, valued at approximately $7,858,930. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Robert Falzon sold 33,820 shares of Prudential Financial stock in a transaction that occurred 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 owns 70,264 shares in the company, valued at $5,419,462.32. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.
About Prudential Financial
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.
Want to see what other hedge funds are holding PRU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prudential Financial Inc. (NYSE:PRU).
Receive News & Ratings for Prudential Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.