Trexquant Investment LP Sells 13,121 Shares of Prudential Financial, Inc. (PRU)
Trexquant Investment LP decreased its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 73.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,800 shares of the financial services provider’s stock after selling 13,121 shares during the period. Trexquant Investment LP’s holdings in Prudential Financial were worth $519,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of PRU. Adirondack Trust Co. raised its position in Prudential Financial by 7.6% in the first quarter. Adirondack Trust Co. now owns 1,133 shares of the financial services provider’s stock valued at $121,000 after buying an additional 80 shares during the period. First Personal Financial Services raised its position in Prudential Financial by 3.4% in the first quarter. First Personal Financial Services now owns 1,407 shares of the financial services provider’s stock valued at $150,000 after buying an additional 46 shares during the period. Guardian Life Insurance Co. of America raised its position 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. Accurate Investment Solutions Inc. raised its position in Prudential Financial by 2.3% in the second quarter. Accurate Investment Solutions Inc. now owns 1,664 shares of the financial services provider’s stock valued at $180,000 after buying an additional 38 shares during the period. Finally, Trust Co. of Vermont raised its position in Prudential Financial by 28.5% in the second quarter. Trust Co. of Vermont now owns 1,711 shares of the financial services provider’s stock valued at $185,000 after buying an additional 380 shares during the period. 63.51% of the stock is owned by hedge funds and other institutional investors.
Shares of Prudential Financial, Inc. (PRU) opened at 105.69 on Friday. Prudential Financial, Inc. has a 52 week low of $75.20 and a 52 week high of $115.26. The firm has a market cap of $45.13 billion, a PE ratio of 11.80 and a beta of 1.50. The firm’s 50-day moving average is $110.42 and its 200 day moving average is $108.12.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share for the quarter, missing analysts’ consensus estimates of $2.70 by $0.61. Prudential Financial had a net margin of 7.15% and a return on equity of 8.98%. The firm had revenue of $13.03 billion during the quarter, compared to analysts’ expectations of $12.45 billion. During the same quarter in the prior year, the business earned $1.84 EPS. Equities research analysts forecast that Prudential Financial, Inc. will post $10.22 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Tuesday, August 22nd will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Friday, August 18th. Prudential Financial’s dividend payout ratio is currently 33.63%.
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Several equities analysts have recently weighed in on the stock. Wells Fargo & Company reaffirmed a “hold” rating on shares of Prudential Financial in a report on Tuesday, June 6th. Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 target price for the company in a report on Tuesday, April 18th. BidaskClub lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Saturday. Royal Bank Of Canada reaffirmed a “hold” rating and set a $113.00 target price on shares of Prudential Financial in a report on Tuesday, June 27th. Finally, Credit Suisse Group cut their target price on shares of Prudential Financial from $121.00 to $120.00 and set a “neutral” rating for the company in a report on Tuesday, May 23rd. Ten equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $111.21.
In related news, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $110.00, for a total transaction of $22,174,350.00. Following the sale, the chairman now owns 456,121 shares of the company’s stock, valued at $50,173,310. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Nicholas C. Silitch sold 14,897 shares of the stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $110.00, for a total value of $1,638,670.00. Following the sale, the insider now directly owns 21,274 shares in the company, valued at approximately $2,340,140. The disclosure for this sale can be found here. In the last 90 days, insiders sold 220,615 shares of company stock valued at $24,276,660. Company 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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