Oregon Public Employees Retirement Fund raised its holdings in Prudential Financial Inc (NYSE:PRU) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 142,095 shares of the financial services provider’s stock after purchasing an additional 959 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Prudential Financial were worth $14,397,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of PRU. Flagship Harbor Advisors LLC purchased a new stake in Prudential Financial in the second quarter worth about $104,000. Sun Life Financial INC grew its holdings in shares of Prudential Financial by 470.9% during the second quarter. Sun Life Financial INC now owns 1,136 shares of the financial services provider’s stock valued at $106,000 after buying an additional 937 shares during the last quarter. Vigilant Capital Management LLC purchased a new stake in shares of Prudential Financial during the second quarter valued at approximately $125,000. Financial Architects Inc grew its holdings in shares of Prudential Financial by 303.9% during the second quarter. Financial Architects Inc now owns 1,640 shares of the financial services provider’s stock valued at $153,000 after buying an additional 1,234 shares during the last quarter. Finally, Centaurus Financial Inc. purchased a new stake in shares of Prudential Financial during the second quarter valued at approximately $157,000. Hedge funds and other institutional investors own 63.33% of the company’s stock.
Shares of PRU stock traded up $1.17 during trading hours on Thursday, hitting $91.04. The company’s stock had a trading volume of 1,906,561 shares, compared to its average volume of 2,548,524. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.11 and a quick ratio of 0.11. Prudential Financial Inc has a 12-month low of $89.10 and a 12-month high of $127.14. The company has a market capitalization of $37.12 billion, a P/E ratio of 8.60, a price-to-earnings-growth ratio of 0.82 and a beta of 1.44.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, November 7th. The financial services provider reported $3.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.16 by ($0.01). Prudential Financial had a return on equity of 10.20% and a net margin of 12.59%. The company had revenue of $14.43 billion for the quarter, compared to analyst estimates of $13.51 billion. During the same quarter in the prior year, the company posted $3.01 earnings per share. As a group, sell-side analysts forecast that Prudential Financial Inc will post 12.18 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Monday, November 26th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 3.95%. The ex-dividend date is Friday, November 23rd. Prudential Financial’s dividend payout ratio (DPR) is presently 34.03%.
In other news, insider Scott Sleyster sold 23,300 shares of the firm’s stock in a transaction that occurred on Friday, September 28th. The shares were sold at an average price of $99.74, for a total value of $2,323,942.00. Following the completion of the transaction, the insider now owns 57,758 shares of the company’s stock, valued at $5,760,782.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Prudential Financial Inc acquired 880,000 shares of the stock in a transaction dated Tuesday, October 16th. The stock was acquired at an average cost of $25.00 per share, with a total value of $22,000,000.00. The disclosure for this purchase can be found here. Company insiders own 0.66% of the company’s stock.
Several equities research analysts recently issued reports on PRU shares. Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 target price on the stock in a report on Monday, October 8th. ValuEngine cut shares of Prudential Financial from a “sell” rating to a “strong sell” rating in a report on Friday, November 16th. Morgan Stanley dropped their target price on shares of Prudential Financial from $122.00 to $120.00 and set an “equal weight” rating on the stock in a report on Thursday, November 8th. Credit Suisse Group dropped their target price on shares of Prudential Financial from $102.00 to $98.00 and set a “neutral” rating on the stock in a report on Friday, August 17th. Finally, Goldman Sachs Group upgraded shares of Prudential Financial from a “buy” rating to a “conviction-buy” rating in a report on Monday, September 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $119.31.
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Prudential Financial Company Profile
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through U.S. Individual Solutions, U.S. Workplace Solutions, Investment Management, and International Insurance divisions.
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