ING Groep NV decreased its stake in shares of Prudential Financial Inc. (NYSE:PRU) by 45.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,960 shares of the company’s stock after selling 14,913 shares during the period. ING Groep NV’s holdings in Prudential Financial were worth $1,281,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. Acadian Asset Management LLC boosted its stake in Prudential Financial by 22.2% in the first quarter. Acadian Asset Management LLC now owns 7,432 shares of the company’s stock valued at $536,000 after buying an additional 1,350 shares during the period. Glenmede Trust Co. NA boosted its stake in Prudential Financial by 28.9% in the first quarter. Glenmede Trust Co. NA now owns 14,345 shares of the company’s stock valued at $1,035,000 after buying an additional 3,216 shares during the period. Prudential Financial Inc. boosted its stake in Prudential Financial by 61.6% in the first quarter. Prudential Financial Inc. now owns 614,473 shares of the company’s stock valued at $44,378,000 after buying an additional 234,250 shares during the period. Rehmann Capital Advisory Group boosted its stake in Prudential Financial by 19.8% in the first quarter. Rehmann Capital Advisory Group now owns 3,182 shares of the company’s stock valued at $230,000 after buying an additional 527 shares during the period. Finally, FDO Partners LLC purchased a new stake in Prudential Financial during the first quarter valued at $222,000. 60.62% of the stock is owned by institutional investors.
Prudential Financial Inc. (NYSE:PRU) traded up 0.26% on Thursday, hitting $85.01. 2,778,136 shares of the company were exchanged. The firm has a 50 day moving average of $79.54 and a 200-day moving average of $76.11. The stock has a market cap of $37.15 billion, a PE ratio of 8.73 and a beta of 1.68. Prudential Financial Inc. has a 52-week low of $57.19 and a 52-week high of $88.77.
Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, August 3rd. The company reported $1.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 in the previous year, the company earned $2.91 earnings per share. On average, equities analysts expect that Prudential Financial Inc. will post ($0.01) earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Tuesday, August 23rd were paid a dividend of $0.70 per share. The ex-dividend date was Friday, August 19th. This represents a $2.80 annualized dividend and a yield of 3.29%. Prudential Financial’s dividend payout ratio is currently 28.78%.
PRU has been the subject of several analyst reports. Bank of America Corp. cut shares of Prudential Financial from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 29th. Wells Fargo & Co. started coverage on shares of Prudential Financial in a report on Friday, September 23rd. They issued a “market perform” rating on the stock. Deutsche Bank AG decreased their price objective on shares of Prudential Financial from $90.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, July 7th. Zacks Investment Research lowered shares of Prudential Financial from a “hold” rating to a “sell” rating in a report on Tuesday, June 21st. Finally, Citigroup Inc. decreased their price objective on shares of Prudential Financial from $83.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, July 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $89.33.
In other Prudential Financial news, insider Charles F. Lowrey sold 41,644 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 98,307 shares in the company, valued at $7,864,560. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Robert Falzon sold 33,820 shares of the business’s 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 sale, the chief financial officer now 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.
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.