Dupont Capital Management Corp Sells 14,423 Shares of Prudential Financial, Inc. (PRU)
Dupont Capital Management Corp lowered its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 20.8% during the second quarter, Holdings Channel reports. The firm owned 54,960 shares of the financial services provider’s stock after selling 14,423 shares during the period. Dupont Capital Management Corp’s holdings in Prudential Financial were worth $5,943,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in PRU. Westpac Banking Corp raised its position in shares of Prudential Financial by 103.7% in the first quarter. Westpac Banking Corp now owns 54,100 shares of the financial services provider’s stock valued at $5,100,000 after buying an additional 27,536 shares during the period. Financial Counselors Inc. raised its position in shares of Prudential Financial by 3.4% in the first quarter. Financial Counselors Inc. now owns 72,807 shares of the financial services provider’s stock valued at $7,767,000 after buying an additional 2,365 shares during the period. BLB&B Advisors LLC raised its position in shares of Prudential Financial by 7.3% in the first quarter. BLB&B Advisors LLC now owns 2,192 shares of the financial services provider’s stock valued at $234,000 after buying an additional 150 shares during the period. Vicus Capital purchased a new position in shares of Prudential Financial during the first quarter valued at approximately $235,000. Finally, Vanguard Group Inc. raised its position in shares of Prudential Financial by 3.3% in the first quarter. Vanguard Group Inc. now owns 30,272,486 shares of the financial services provider’s stock valued at $3,229,469,000 after buying an additional 968,500 shares during the period. Hedge funds and other institutional investors own 63.58% of the company’s stock.
Shares of Prudential Financial, Inc. (NYSE:PRU) opened at 106.25 on Wednesday. The stock has a market cap of $45.37 billion, a PE ratio of 11.86 and a beta of 1.50. The firm has a 50-day moving average price of $110.59 and a 200 day moving average price of $108.14. Prudential Financial, Inc. has a 12-month low of $74.85 and a 12-month high of $115.26.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.70 by $0.61. Prudential Financial had a return on equity of 8.98% and a net margin of 7.15%. The company had revenue of $13.03 billion for the quarter, compared to the consensus estimate of $12.45 billion. During the same period in the previous year, the firm earned $1.84 earnings per share. Equities research analysts expect that Prudential Financial, Inc. will post $10.21 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Tuesday, August 22nd will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, August 18th. This represents a $3.00 annualized dividend and a yield of 2.82%. Prudential Financial’s payout ratio is currently 33.63%.
Several equities analysts have recently commented on PRU shares. Zacks Investment Research upgraded Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 price objective on the stock in a research report on Tuesday, April 18th. Credit Suisse Group reiterated a “hold” rating and set a $121.00 price objective on shares of Prudential Financial in a research report on Thursday, April 27th. ValuEngine upgraded Prudential Financial from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. BidaskClub lowered Prudential Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, Wells Fargo & Company reiterated a “hold” rating on shares of Prudential Financial in a research report on Thursday, August 3rd. Ten equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Prudential Financial has an average rating of “Buy” and an average target price of $111.21.
In other Prudential Financial news, insider Stephen Pelletier sold 4,133 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $112.18, for a total transaction of $463,639.94. Following the completion of the transaction, the insider now owns 10,924 shares in the company, valued at $1,225,454.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the chairman now owns 456,121 shares of the company’s stock, valued at approximately $50,173,310. The disclosure for this sale can be found here. Insiders have sold 220,615 shares of company stock worth $24,276,660 over the last three months. 0.66% of the stock is currently 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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