Sigma Planning Corp Has $413,000 Position in Prudential Financial, Inc. (PRU)
Sigma Planning Corp boosted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 10.7% during the second quarter, Holdings Channel reports. The fund owned 3,817 shares of the financial services provider’s stock after buying an additional 368 shares during the period. Sigma Planning Corp’s holdings in Prudential Financial were worth $413,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in PRU. Westpac Banking Corp raised its stake 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 last quarter. Financial Counselors Inc. raised its position in Prudential Financial by 3.4% in the first quarter. Financial Counselors Inc. now owns 72,807 shares of the financial services provider’s stock worth $7,767,000 after buying an additional 2,365 shares in the last quarter. BLB&B Advisors LLC raised its position in 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 worth $234,000 after buying an additional 150 shares in the last quarter. Vicus Capital bought a new position in Prudential Financial during the first quarter worth approximately $235,000. Finally, Vanguard Group Inc. raised its position in 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 worth $3,229,469,000 after buying an additional 968,500 shares in the last quarter. Institutional investors own 63.58% of the company’s stock.
Prudential Financial, Inc. (NYSE:PRU) opened at 106.25 on Wednesday. The company has a market cap of $45.37 billion, a P/E ratio of 11.86 and a beta of 1.50. Prudential Financial, Inc. has a 12-month low of $74.85 and a 12-month high of $115.26. The stock’s 50 day moving average is $110.59 and its 200-day moving average is $108.14.
Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 EPS 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 business had revenue of $13.03 billion for the quarter, compared to analyst estimates of $12.45 billion. During the same quarter in the previous year, the company posted $1.84 EPS. Analysts predict that Prudential Financial, Inc. will post $10.21 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Tuesday, August 22nd will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.82%. The ex-dividend date is Friday, August 18th. Prudential Financial’s dividend payout ratio (DPR) is currently 33.63%.
PRU has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 price objective on the stock in a research note 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 note on Thursday, April 27th. ValuEngine upgraded shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. BidaskClub lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, Wells Fargo & Company reiterated a “hold” rating on shares of Prudential Financial in a research note on Thursday, August 3rd. Ten equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $111.21.
In other news, insider Stephen Pelletier sold 4,133 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $112.18, for a total value of $463,639.94. Following the transaction, the insider now directly owns 10,924 shares of the company’s stock, valued at $1,225,454.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $110.00, for a total transaction of $22,174,350.00. Following the completion of the transaction, the chairman now directly owns 456,121 shares in the company, valued at $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 ninety days. Insiders own 0.66% of the company’s stock.
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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