Investment Centers of America Inc. boosted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 18.3% during the first quarter, Holdings Channel reports. The fund owned 7,514 shares of the financial services provider’s stock after buying an additional 1,163 shares during the period. Investment Centers of America Inc.’s holdings in Prudential Financial were worth $799,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of PRU. Adirondack Trust Co. raised its position in shares of Prudential Financial by 7.6% in the first quarter. Adirondack Trust Co. now owns 1,133 shares of the financial services provider’s stock worth $121,000 after buying an additional 80 shares during the period. Quadrant Capital Group LLC raised its position in shares of Prudential Financial by 11.1% in the first quarter. Quadrant Capital Group LLC now owns 1,376 shares of the financial services provider’s stock worth $139,000 after buying an additional 137 shares during the period. First Personal Financial Services raised its position in shares of Prudential Financial by 3.4% in the first quarter. First Personal Financial Services now owns 1,407 shares of the financial services provider’s stock worth $150,000 after buying an additional 46 shares during the period. Guardian Life Insurance Co. of America raised its position in shares of Prudential Financial by 0.3% in the first quarter. Guardian Life Insurance Co. of America now owns 1,658 shares of the financial services provider’s stock worth $177,000 after buying an additional 5 shares during the period. Finally, Ledyard National Bank raised its position in shares of Prudential Financial by 4,178.6% in the first quarter. Ledyard National Bank now owns 1,797 shares of the financial services provider’s stock worth $192,000 after buying an additional 1,755 shares during the period. 62.99% of the stock is currently owned by institutional investors.
Shares of Prudential Financial, Inc. (PRU) opened at 111.36 on Monday. Prudential Financial, Inc. has a 52-week low of $70.00 and a 52-week high of $114.55. The firm has a market cap of $47.77 billion, a price-to-earnings ratio of 11.30 and a beta of 1.49. The company’s 50 day moving average is $105.88 and its 200 day moving average is $106.87.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, May 3rd. The financial services provider reported $2.79 EPS for the quarter, beating the consensus estimate of $2.64 by $0.15. The company had revenue of $13.24 billion during the quarter, compared to analysts’ expectations of $12.75 billion. Prudential Financial had a net margin of 7.78% and a return on equity of 8.52%. During the same quarter in the previous year, the company earned $2.18 earnings per share. Analysts anticipate that Prudential Financial, Inc. will post $10.64 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Tuesday, May 23rd were paid a $0.75 dividend. The ex-dividend date was Friday, May 19th. This represents a $3.00 dividend on an annualized basis and a yield of 2.69%. Prudential Financial’s dividend payout ratio is presently 30.46%.
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A number of research analysts recently commented on the stock. Royal Bank of Canada reiterated a “hold” rating and issued a $113.00 price target on shares of Prudential Financial in a research note on Tuesday, June 27th. BidaskClub upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a research note on Friday, June 16th. Zacks Investment Research lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. J P Morgan Chase & Co upped their price target on shares of Prudential Financial from $108.00 to $113.00 and gave the company an “overweight” rating in a research note on Monday, April 3rd. Finally, Wells Fargo & Company reiterated a “hold” rating on shares of Prudential Financial in a research note on Tuesday, June 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Prudential Financial currently has a consensus rating of “Hold” and an average target price of $111.53.
In other Prudential Financial news, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $110.00, for a total value of $22,174,350.00. Following the completion of the transaction, the chairman now owns 456,121 shares of the company’s stock, valued at approximately $50,173,310. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Charles F. Lowrey sold 222,857 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $108.04, for a total transaction of $24,077,470.28. Following the completion of the transaction, the insider now directly owns 151,418 shares of the company’s stock, valued at approximately $16,359,200.72. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.
About Prudential Financial
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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