Gulf International Bank UK Ltd maintained its position in shares of Prudential Financial Inc. (NYSE:PRU) during the third quarter, Holdings Channel reports. The fund owned 134,078 shares of the company’s stock at the end of the third quarter. Gulf International Bank UK Ltd’s holdings in Prudential Financial were worth $10,947,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Americafirst Capital Management LLC purchased a new position in shares of Prudential Financial during the second quarter worth approximately $100,000. Bessemer Group Inc. raised its stake in Prudential Financial by 6.7% in the second quarter. Bessemer Group Inc. now owns 1,516 shares of the company’s stock worth $108,000 after buying an additional 95 shares during the last quarter. Gierl Augustine Investment Management Inc raised its stake 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 worth $116,000 after buying an additional 206 shares during the last quarter. Cantab Capital Partners LLP bought a new stake in Prudential Financial during the second quarter worth about $132,000. Finally, Seven Eight Capital LLC raised its stake in Prudential Financial by 757.0% in the first quarter. Seven Eight Capital LLC now owns 2,151 shares of the company’s stock worth $155,000 after buying an additional 1,900 shares during the last quarter. 60.46% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Prudential Financial Inc. (NYSE:PRU) traded down 1.36% during midday trading on Monday, reaching $99.42. The company had a trading volume of 2,009,730 shares. The firm has a market capitalization of $42.75 billion, a price-to-earnings ratio of 9.37 and a beta of 1.68. The stock has a 50-day moving average of $89.55 and a 200 day moving average of $79.73. Prudential Financial Inc. has a 52 week low of $57.19 and a 52 week high of $101.96.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported $2.66 EPS for the quarter, beating the Zacks’ consensus estimate of $2.49 by $0.17. Prudential Financial had a return on equity of 7.73% and a net margin of 8.92%. During the same quarter in the previous year, the firm earned $2.40 EPS. On average, analysts anticipate that Prudential Financial Inc. will post $8.99 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 22nd will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, November 18th. This represents a $2.80 dividend on an annualized basis and a yield of 2.80%. Prudential Financial’s dividend payout ratio is presently 26.32%.
PRU has been the topic of a number of analyst reports. Wells Fargo & Co. initiated coverage on Prudential Financial in a research note on Friday, September 23rd. They set a “market perform” rating on the stock. Bank of America Corp. upgraded Prudential Financial from an “underperform” rating to a “buy” rating in a research note on Friday, November 18th. FBR & Co boosted their price objective on Prudential Financial from $86.00 to $100.00 and gave the company a “market perform” rating in a research note on Monday. Credit Suisse Group AG initiated coverage on Prudential Financial in a research note on Friday, October 7th. They set a “neutral” rating and a $89.00 price objective on the stock. Finally, Goldman Sachs Group Inc. upgraded Prudential Financial from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $80.00 to $93.00 in a research note on Friday, September 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $91.60.
In other Prudential Financial news, insider Scott Sleyster sold 9,379 shares of the business’s stock in a transaction that occurred on Friday, October 14th. The stock was sold at an average price of $85.06, for a total transaction of $797,777.74. Following the sale, the insider now directly owns 34,185 shares of the company’s stock, valued at $2,907,776.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Timothy P. Harris sold 6,531 shares of the business’s stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $85.00, for a total value of $555,135.00. Following the sale, the executive vice president now directly owns 20,924 shares in the company, valued at $1,778,540. 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.