Ameriprise Financial Inc. Purchases 442,168 Shares of Prudential Financial, Inc. (PRU)
Ameriprise Financial Inc. lifted its position in Prudential Financial, Inc. (NYSE:PRU) by 11.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,157,881 shares of the financial services provider’s stock after purchasing an additional 442,168 shares during the quarter. Ameriprise Financial Inc. owned 0.97% of Prudential Financial worth $449,637,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Prudential Financial by 3,296.9% in the first quarter. BlackRock Inc. now owns 32,220,957 shares of the financial services provider’s stock valued at $3,437,330,000 after purchasing an additional 31,272,429 shares in the last quarter. Vanguard Group Inc. raised its stake in Prudential Financial by 3.3% during the first quarter. Vanguard Group Inc. now owns 30,272,486 shares of the financial services provider’s stock worth $3,229,469,000 after acquiring an additional 968,500 shares in the last quarter. Geode Capital Management LLC raised its stake in Prudential Financial by 9.4% during the first quarter. Geode Capital Management LLC now owns 4,297,520 shares of the financial services provider’s stock worth $457,822,000 after acquiring an additional 368,321 shares in the last quarter. LSV Asset Management raised its stake in Prudential Financial by 1.0% during the second quarter. LSV Asset Management now owns 3,372,864 shares of the financial services provider’s stock worth $364,741,000 after acquiring an additional 32,998 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Prudential Financial by 2.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,998,472 shares of the financial services provider’s stock worth $319,880,000 after acquiring an additional 81,327 shares in the last quarter. Institutional investors and hedge funds own 64.46% of the company’s stock.
In other news, insider Nicholas C. Silitch sold 14,897 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $110.00, for a total transaction of $1,638,670.00. Following the completion of the transaction, the insider now owns 21,274 shares of the company’s stock, valued at approximately $2,340,140. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Pelletier sold 4,133 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $112.18, for a total value of $463,639.94. Following the transaction, the insider now directly owns 10,924 shares of the company’s stock, valued at approximately $1,225,454.32. The disclosure for this sale can be found here. Insiders have sold a total of 220,615 shares of company stock valued at $24,276,660 in the last three months. 0.66% of the stock is owned by insiders.
Several research analysts have issued reports on PRU shares. Wells Fargo & Company reiterated a “hold” rating on shares of Prudential Financial in a research note on Thursday, August 3rd. BidaskClub upgraded Prudential Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Royal Bank Of Canada reiterated a “hold” rating and set a $117.00 price objective on shares of Prudential Financial in a research note on Wednesday, September 6th. ValuEngine upgraded Prudential Financial from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research lowered Prudential Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Ten investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Prudential Financial has an average rating of “Buy” and a consensus price target of $111.49.
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Shares of Prudential Financial, Inc. (NYSE PRU) traded up 0.11% during mid-day trading on Wednesday, hitting $102.29. The stock had a trading volume of 473,509 shares. The stock’s 50-day moving average price is $106.19 and its 200 day moving average price is $107.27. Prudential Financial, Inc. has a 1-year low of $77.89 and a 1-year high of $115.26. The company has a market capitalization of $43.68 billion, a P/E ratio of 11.42 and a beta of 1.49.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 EPS for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.61). Prudential Financial had a return on equity of 8.98% and a net margin of 7.15%. The business had revenue of $13.03 billion for the quarter, compared to analyst estimates of $12.45 billion. During the same period last year, the firm posted $1.84 EPS. On average, analysts predict that Prudential Financial, Inc. will post $10.13 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Tuesday, August 22nd will be issued a dividend of $0.75 per share. The ex-dividend date is Friday, August 18th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.94%. Prudential Financial’s dividend payout ratio (DPR) is currently 33.63%.
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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