National Asset Management Inc. Has $454,000 Stake in Prudential Financial, Inc. (PRU)

National Asset Management Inc. decreased its position in Prudential Financial, Inc. (NYSE:PRU) by 33.5% during the first quarter, Holdings Channel reports. The institutional investor owned 4,242 shares of the financial services provider’s stock after selling 2,141 shares during the period. National Asset Management Inc.’s holdings in Prudential Financial were worth $454,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Guardian Life Insurance Co. of America boosted its stake in 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 valued at $177,000 after buying an additional 5 shares during the period. Sigma Planning Corp boosted its stake in Prudential Financial by 0.3% in the first quarter. Sigma Planning Corp now owns 3,449 shares of the financial services provider’s stock valued at $368,000 after buying an additional 10 shares during the period. Koshinski Asset Management Inc. boosted its stake in Prudential Financial by 0.4% in the first quarter. Koshinski Asset Management Inc. now owns 5,541 shares of the financial services provider’s stock valued at $591,000 after buying an additional 24 shares during the period. Cleararc Capital Inc. boosted its stake in Prudential Financial by 0.4% in the first quarter. Cleararc Capital Inc. now owns 10,492 shares of the financial services provider’s stock valued at $1,119,000 after buying an additional 38 shares during the period. Finally, Formidable Asset Management LLC boosted its stake in Prudential Financial by 0.8% in the first quarter. Formidable Asset Management LLC now owns 4,673 shares of the financial services provider’s stock valued at $506,000 after buying an additional 38 shares during the period. Hedge funds and other institutional investors own 62.99% of the company’s stock.

Prudential Financial, Inc. (NYSE:PRU) opened at 111.36 on Monday. The firm has a market capitalization 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 price is $105.88 and its 200 day moving average price is $106.87. Prudential Financial, Inc. has a 52-week low of $70.00 and a 52-week high of $114.55.

Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, May 3rd. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.64 by $0.15. The firm had revenue of $13.24 billion for the quarter, compared to analyst estimates of $12.75 billion. Prudential Financial had a return on equity of 8.52% and a net margin of 7.78%. During the same quarter last year, the firm posted $2.18 EPS. Equities research analysts predict that Prudential Financial, Inc. will post $10.64 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Tuesday, May 23rd were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend was Friday, May 19th. Prudential Financial’s dividend payout ratio (DPR) is currently 30.46%.

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Several analysts have commented on PRU shares. Keefe, Bruyette & Woods restated a “buy” rating and issued a $117.00 price target on shares of Prudential Financial in a report on Tuesday, March 21st. Zacks Investment Research upgraded Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 price target for the company in a report on Tuesday, April 18th. Vetr upgraded Prudential Financial from a “hold” rating to a “buy” rating and set a $109.90 price target for the company in a report on Wednesday, March 22nd. Credit Suisse Group restated a “hold” rating and issued a $121.00 price target on shares of Prudential Financial in a report on Thursday, April 27th. Finally, ValuEngine upgraded Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $111.53.

In other Prudential Financial news, insider Charles F. Lowrey sold 222,857 shares of the firm’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 value of $24,077,470.28. Following the sale, the insider now owns 151,418 shares of the company’s stock, valued at approximately $16,359,200.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the firm’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 sale, the chairman now directly owns 456,121 shares in the company, valued at approximately $50,173,310. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

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.

Want to see what other hedge funds are holding PRU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prudential Financial, Inc. (NYSE:PRU).

Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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