Caisse DE Depot ET Placement DU Quebec boosted its position in Prudential Financial, Inc. (NYSE:PRU) by 67.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 121,370 shares of the financial services provider’s stock after purchasing an additional 49,000 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Prudential Financial were worth $12,958,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in PRU. Fieldpoint Private Securities LLC purchased a new position in Prudential Financial in the second quarter worth about $103,000. Grove Bank & Trust boosted its position in Prudential Financial by 507.0% in the third quarter. Grove Bank & Trust now owns 1,129 shares of the financial services provider’s stock worth $120,000 after purchasing an additional 943 shares during the last quarter. Hudock Capital Group LLC boosted its position in Prudential Financial by 0.7% in the second quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 8 shares during the last quarter. Legacy Advisors LLC purchased a new position in Prudential Financial in the third quarter worth about $129,000. Finally, Advisory Services Network LLC boosted its position in Prudential Financial by 128.8% in the second quarter. Advisory Services Network LLC now owns 1,700 shares of the financial services provider’s stock worth $184,000 after purchasing an additional 957 shares during the last quarter. 64.65% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently commented on the company. ValuEngine raised Prudential Financial from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Prudential Financial in a research note on Friday, November 10th. B. Riley reaffirmed a “buy” rating on shares of Prudential Financial in a research note on Monday, November 6th. Wells Fargo & Company reaffirmed a “hold” rating and issued a $120.00 price objective (up previously from $114.00) on shares of Prudential Financial in a research note on Wednesday, November 8th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $119.00 price objective on shares of Prudential Financial in a research note on Friday, November 3rd. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $115.64.
In related news, insider Nicholas C. Silitch sold 44,860 shares of Prudential Financial stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $111.77, for a total transaction of $5,014,002.20. Following the sale, the insider now owns 27,927 shares of the company’s stock, valued at approximately $3,121,400.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Charles F. Lowrey sold 44,630 shares of Prudential Financial stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $111.91, for a total value of $4,994,543.30. Following the sale, the executive vice president now directly owns 79,354 shares in the company, valued at approximately $8,880,506.14. The disclosure for this sale can be found here. Insiders have sold a total of 100,017 shares of company stock worth $11,219,151 in the last three months. 0.66% of the stock is owned by corporate insiders.
Prudential Financial, Inc. (NYSE PRU) traded down $0.13 during midday trading on Thursday, hitting $115.38. The stock had a trading volume of 1,247,800 shares, compared to its average volume of 1,850,842. The company has a market capitalization of $48,976.24, a P/E ratio of 11.16, a P/E/G ratio of 1.30 and a beta of 1.55. Prudential Financial, Inc. has a 1 year low of $97.88 and a 1 year high of $117.99. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.13 and a quick ratio of 0.13.
Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.30. The company had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $12.24 billion. Prudential Financial had a return on equity of 9.51% and a net margin of 7.71%. During the same quarter last year, the company earned $2.66 EPS. analysts forecast that Prudential Financial, Inc. will post 10.44 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Monday, November 27th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.60%. The ex-dividend date is Friday, November 24th. Prudential Financial’s dividend payout ratio (DPR) is presently 30.18%.
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Prudential Financial Company Profile
Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.
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