First Midwest Bank Trust Division decreased its stake in Prudential Financial Inc. (NYSE:PRU) by 0.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 55,753 shares of the company’s stock after selling 527 shares during the period. First Midwest Bank Trust Division’s holdings in Prudential Financial were worth $3,977,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in PRU. FDO Partners LLC acquired a new stake in Prudential Financial during the first quarter valued at $222,000. Bancorpsouth Inc. boosted its stake in Prudential Financial by 76.9% in the first quarter. Bancorpsouth Inc. now owns 39,546 shares of the company’s stock valued at $2,857,000 after buying an additional 17,190 shares during the last quarter. Rehmann Capital Advisory Group boosted its stake in Prudential Financial by 19.8% in the first quarter. Rehmann Capital Advisory Group now owns 3,182 shares of the company’s stock valued at $230,000 after buying an additional 527 shares during the last quarter. Prudential Financial Inc. boosted its stake in Prudential Financial by 61.6% in the first quarter. Prudential Financial Inc. now owns 614,473 shares of the company’s stock valued at $44,378,000 after buying an additional 234,250 shares during the last quarter. Finally, Stratos Wealth Partners LTD. boosted its stake in Prudential Financial by 14.6% in the first quarter. Stratos Wealth Partners LTD. now owns 5,413 shares of the company’s stock valued at $391,000 after buying an additional 691 shares during the last quarter. Hedge funds and other institutional investors own 60.62% of the company’s stock.
Shares of Prudential Financial Inc. (NYSE:PRU) traded up 1.57% during mid-day trading on Tuesday, hitting $80.66. The stock had a trading volume of 2,703,984 shares. Prudential Financial Inc. has a 1-year low of $57.19 and a 1-year high of $88.77. The firm has a market capitalization of $35.25 billion, a price-to-earnings ratio of 8.29 and a beta of 1.62. The stock’s 50-day moving average is $78.27 and its 200 day moving average is $75.64.
Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, August 3rd. The company reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by $0.67. Prudential Financial had a return on equity of 8.11% and a net margin of 8.90%. During the same quarter in the previous year, the business earned $2.91 earnings per share. Equities research analysts predict that Prudential Financial Inc. will post ($0.01) EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Tuesday, August 23rd were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.47%. The ex-dividend date was Friday, August 19th. Prudential Financial’s dividend payout ratio is presently 28.78%.
A number of research analysts have recently commented on the company. Wells Fargo & Co. assumed coverage on Prudential Financial in a research note on Friday. They issued a “market perform” rating for the company. Goldman Sachs Group Inc. upgraded Prudential Financial from a “neutral” rating to a “buy” rating and increased their price target for the company from $80.00 to $93.00 in a research note on Friday. Zacks Investment Research cut Prudential Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, June 21st. Deutsche Bank AG dropped their price target on Prudential Financial from $90.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, July 7th. Finally, Citigroup Inc. dropped their price target on Prudential Financial from $83.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, July 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Prudential Financial currently has a consensus rating of “Buy” and a consensus price target of $89.33.
In other Prudential Financial news, insider Stephen Pelletier sold 4,470 shares of the business’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $76.36, for a total value of $341,329.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert Falzon sold 33,820 shares of the business’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $77.13, for a total transaction of $2,608,536.60. Following the completion of the sale, the chief financial officer now directly owns 70,264 shares of the company’s stock, valued at $5,419,462.32. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.
About Prudential Financial
Prudential Financial, Inc is a financial services company. The Company, through its subsidiaries and affiliates, provides a range of financial products and services, including life insurance, annuities and investment management. The Company’s divisions include U.S. Retirement Solutions and Investment Management Division; U.S.
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