Artemis Investment Management LLP acquired a new stake in Prudential Financial, Inc. (NYSE:PRU) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 69,700 shares of the company’s stock, valued at approximately $7,255,000.
A number of other large investors also recently modified their holdings of the company. Foster & Motley Inc. increased its stake in shares of Prudential Financial by 5.0% in the second quarter. Foster & Motley Inc. now owns 37,566 shares of the company’s stock valued at $2,680,000 after buying an additional 1,775 shares during the period. World Asset Management Inc increased its stake in shares of Prudential Financial by 0.5% in the second quarter. World Asset Management Inc now owns 44,295 shares of the company’s stock valued at $3,160,000 after buying an additional 218 shares during the period. Pinnacle Financial Partners Inc. increased its stake in shares of Prudential Financial by 5.1% in the second quarter. Pinnacle Financial Partners Inc. now owns 27,063 shares of the company’s stock valued at $2,032,000 after buying an additional 1,315 shares during the period. Arrow Financial Corp increased its stake in shares of Prudential Financial by 1.4% in the second quarter. Arrow Financial Corp now owns 4,935 shares of the company’s stock valued at $352,000 after buying an additional 66 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Prudential Financial by 2.1% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 66,593 shares of the company’s stock valued at $4,751,000 after buying an additional 1,395 shares during the period. Hedge funds and other institutional investors own 60.91% of the company’s stock.
Shares of Prudential Financial, Inc. (NYSE:PRU) traded up 0.99% during trading on Monday, hitting $109.83. 1,020,644 shares of the stock were exchanged. The stock’s 50 day moving average price is $105.64 and its 200 day moving average price is $91.18. Prudential Financial, Inc. has a 52 week low of $58.54 and a 52 week high of $109.93. The firm has a market capitalization of $47.30 billion, a price-to-earnings ratio of 10.85 and a beta of 1.69.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, February 8th. The company reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.14. Prudential Financial had a net margin of 7.63% and a return on equity of 7.96%. During the same quarter in the previous year, the company posted $1.94 earnings per share. On average, equities analysts predict that Prudential Financial, Inc. will post $10.41 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 16th. Shareholders of record on Wednesday, February 22nd will be issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, February 17th. This is a boost from Prudential Financial’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a yield of 2.76%. Prudential Financial’s payout ratio is 28.90%.
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Several brokerages have issued reports on PRU. Atlantic Securities downgraded shares of Prudential Financial from an “overweight” rating to a “neutral” rating in a research report on Friday. They noted that the move was a valuation call. Zacks Investment Research cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Friday. Citigroup Inc. assumed coverage on shares of Prudential Financial in a report on Thursday, January 26th. They set a “neutral” rating and a $103.00 target price on the stock. Barclays PLC reaffirmed a “buy” rating and set a $117.00 target price on shares of Prudential Financial in a report on Monday, January 9th. Finally, Morgan Stanley cut shares of Prudential Financial from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $109.00 to $110.00 in a report on Wednesday, December 14th. They noted that the move was a valuation call. Ten equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $99.07.
Prudential Financial Company Profile
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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