Prudential Financial Inc (PRU) Position Trimmed by Country Club Trust Company n.a.
Country Club Trust Company n.a. lessened its holdings in shares of Prudential Financial Inc (NYSE:PRU) by 2.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 125,756 shares of the financial services provider’s stock after selling 2,862 shares during the period. Prudential Financial makes up approximately 1.4% of Country Club Trust Company n.a.’s portfolio, making the stock its 19th biggest holding. Country Club Trust Company n.a.’s holdings in Prudential Financial were worth $11,555,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in PRU. Oregon Public Employees Retirement Fund grew its holdings in Prudential Financial by 8,297.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,932,559 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 11,790,464 shares during the last quarter. Norges Bank purchased a new stake in shares of Prudential Financial in the fourth quarter valued at $632,295,000. Bessemer Group Inc. lifted its position in shares of Prudential Financial by 15,678.7% in the fourth quarter. Bessemer Group Inc. now owns 1,143,482 shares of the financial services provider’s stock valued at $93,251,000 after acquiring an additional 1,136,235 shares in the last quarter. TIAA CREF Investment Management LLC lifted its position in shares of Prudential Financial by 31.9% in the third quarter. TIAA CREF Investment Management LLC now owns 3,468,515 shares of the financial services provider’s stock valued at $351,430,000 after acquiring an additional 839,309 shares in the last quarter. Finally, Teachers Advisors LLC lifted its position in shares of Prudential Financial by 52.5% in the third quarter. Teachers Advisors LLC now owns 1,453,338 shares of the financial services provider’s stock valued at $147,252,000 after acquiring an additional 500,185 shares in the last quarter. 65.57% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently issued reports on the company. UBS Group upped their price objective on Prudential Financial from $108.00 to $114.00 and gave the company a “buy” rating in a research report on Tuesday. Zacks Investment Research upgraded Prudential Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, February 12th. Evercore ISI upgraded Prudential Financial from an “in-line” rating to an “outperform” rating and set a $85.50 price objective on the stock in a research report on Wednesday, January 9th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $113.00 price objective on shares of Prudential Financial in a research report on Wednesday, January 9th. Finally, Wells Fargo & Co assumed coverage on Prudential Financial in a research report on Tuesday, January 8th. They issued an “outperform” rating and a $105.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Prudential Financial presently has an average rating of “Buy” and an average target price of $112.96.
Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, February 6th. The financial services provider reported $2.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.88 by ($0.44). Prudential Financial had a return on equity of 10.20% and a net margin of 7.01%. The business had revenue of $17.78 billion for the quarter, compared to analysts’ expectations of $14.03 billion. During the same quarter last year, the company posted $2.69 earnings per share. On average, sell-side analysts anticipate that Prudential Financial Inc will post 12.67 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Wednesday, February 20th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Tuesday, February 19th. This is an increase from Prudential Financial’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 4.07%. Prudential Financial’s dividend payout ratio is 34.22%.
In related news, EVP Stephen Pelletier sold 6,532 shares of the stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $94.14, for a total transaction of $614,922.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Nicholas C. Silitch sold 13,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $95.25, for a total value of $1,238,250.00. The disclosure for this sale can be found here. Insiders have sold 45,538 shares of company stock worth $4,298,777 over the last quarter. 0.76% of the stock is currently owned by company insiders.
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Prudential Financial Profile
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.
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