New Mexico Educational Retirement Board Has $4.51 Million Stake in Prudential Financial, Inc. (NYSE:PRU)

New Mexico Educational Retirement Board lowered its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 8.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,831 shares of the financial services provider’s stock after selling 3,800 shares during the period. New Mexico Educational Retirement Board’s holdings in Prudential Financial were worth $4,510,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Quadrature Capital Ltd acquired a new stake in shares of Prudential Financial during the fourth quarter valued at $343,000. CENTRAL TRUST Co raised its stake in shares of Prudential Financial by 4.1% in the first quarter. CENTRAL TRUST Co now owns 5,399 shares of the financial services provider’s stock valued at $576,000 after buying an additional 211 shares during the period. Creative Planning raised its stake in shares of Prudential Financial by 9.2% in the first quarter. Creative Planning now owns 13,392 shares of the financial services provider’s stock valued at $1,429,000 after buying an additional 1,125 shares during the period. Gulf International Bank UK Ltd raised its stake in shares of Prudential Financial by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 135,703 shares of the financial services provider’s stock valued at $14,476,000 after buying an additional 1,625 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in shares of Prudential Financial by 11.1% in the first quarter. Quadrant Capital Group LLC now owns 1,376 shares of the financial services provider’s stock valued at $139,000 after buying an additional 137 shares during the period. Institutional investors and hedge funds own 63.58% of the company’s stock.

Prudential Financial, Inc. (PRU) traded up 0.04% on Friday, hitting $101.95. 3,523,224 shares of the stock traded hands. The company has a market cap of $43.53 billion, a price-to-earnings ratio of 11.38 and a beta of 1.50. The stock has a 50-day moving average price of $110.29 and a 200 day moving average price of $108.05. Prudential Financial, Inc. has a 1-year low of $75.50 and a 1-year high of $115.26.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share for the quarter, missing the consensus estimate of $2.70 by $0.61. The company had revenue of $13.03 billion during the quarter, compared to the consensus estimate of $12.45 billion. Prudential Financial had a net margin of 7.15% and a return on equity of 8.98%. During the same quarter in the prior year, the firm earned $1.84 EPS. On average, analysts anticipate that Prudential Financial, Inc. will post $10.18 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Tuesday, August 22nd will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $3.00 annualized dividend and a dividend yield of 2.94%. Prudential Financial’s dividend payout ratio is currently 33.63%.

TRADEMARK VIOLATION WARNING: This story was first reported by Rincon Hill News and is owned by of Rincon Hill News. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of US & international trademark & copyright laws. The legal version of this story can be viewed at https://rinconhillneighbors.org/2017/08/19/prudential-financial-inc-nysepru-shares-sold-by-new-mexico-educational-retirement-board-updated.html.

Several analysts have recently weighed in on PRU shares. Credit Suisse Group reiterated a “hold” rating and set a $121.00 target price on shares of Prudential Financial in a research report on Thursday, April 27th. Wells Fargo & Company reissued a “hold” rating on shares of Prudential Financial in a report on Thursday, May 4th. ValuEngine raised shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Zacks Investment Research downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Finally, BidaskClub raised shares of Prudential Financial from a “sell” rating to a “hold” rating in a research note on Friday, June 16th. Ten analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $111.21.

In other news, insider Stephen Pelletier sold 4,133 shares of Prudential Financial stock in a transaction on Monday, August 7th. The shares were sold at an average price of $112.18, for a total value of $463,639.94. Following the completion of the sale, the insider now owns 10,924 shares in the company, valued at approximately $1,225,454.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman John R. Strangfeld, Jr. sold 201,585 shares of Prudential Financial stock in a transaction on 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 sale, 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 sold a total of 220,615 shares of company stock valued at $24,276,660 in the last quarter. 0.66% of the stock is currently owned by company insiders.

Prudential Financial Company Profile

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.

Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

Receive News & Ratings for Prudential Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial Inc. and related companies with our FREE daily email newsletter.

 

Latest News



Leave a Reply

 
© 2006-2017 Rincon Hill News.