First Interstate Bank Grows Position in Prudential Financial, Inc. (PRU)

First Interstate Bank increased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 230.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,873 shares of the financial services provider’s stock after purchasing an additional 2,003 shares during the period. First Interstate Bank’s holdings in Prudential Financial were worth $306,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Green Square Capital LLC lifted its holdings in Prudential Financial by 0.3% during the 2nd quarter. Green Square Capital LLC now owns 2,065 shares of the financial services provider’s stock worth $223,000 after purchasing an additional 7 shares during the last quarter. Hudock Capital Group LLC lifted its holdings in Prudential Financial by 0.7% during the 2nd quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 8 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in Prudential Financial by 0.9% during the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,018 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 18 shares during the last quarter. Accurate Investment Solutions Inc. lifted its holdings in Prudential Financial by 2.3% during the 2nd quarter. Accurate Investment Solutions Inc. now owns 1,664 shares of the financial services provider’s stock worth $180,000 after purchasing an additional 38 shares during the last quarter. Finally, Parkwood LLC lifted its holdings in Prudential Financial by 1.6% during the 2nd quarter. Parkwood LLC now owns 3,041 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 48 shares during the last quarter. 64.07% of the stock is owned by institutional investors and hedge funds.

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Several research firms recently weighed in on PRU. BidaskClub raised Prudential Financial from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Keefe, Bruyette & Woods restated a “buy” rating on shares of Prudential Financial in a research note on Friday, August 11th. B. Riley restated a “buy” rating on shares of Prudential Financial in a research note on Monday, November 6th. Wells Fargo & Company restated a “hold” rating on shares of Prudential Financial in a research note on Thursday, August 3rd. Finally, Zacks Investment Research upgraded Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 price objective on the stock in a research note on Tuesday, October 10th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $115.64.

Prudential Financial, Inc. (NYSE PRU) traded up $0.23 during midday trading on Tuesday, hitting $110.25. The company had a trading volume of 749,006 shares, compared to its average volume of 1,853,475. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial, Inc. has a 12 month low of $97.88 and a 12 month high of $115.26. The firm has a market cap of $47,450.00, a P/E ratio of 10.65, a price-to-earnings-growth ratio of 1.25 and a beta of 1.56.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.71 by $0.30. Prudential Financial had a return on equity of 9.51% and a net margin of 7.71%. The company had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $12.24 billion. During the same quarter last year, the business posted $2.66 EPS. equities research analysts anticipate that Prudential Financial, Inc. will post 10.38 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Monday, November 27th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, November 24th. Prudential Financial’s dividend payout ratio (DPR) is 30.24%.

In other Prudential Financial news, EVP Charles F. Lowrey sold 44,630 shares of Prudential Financial stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $111.91, for a total transaction of $4,994,543.30. Following the transaction, the executive vice president now directly owns 79,354 shares of the company’s stock, valued at approximately $8,880,506.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicholas C. Silitch sold 44,860 shares of Prudential Financial stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $111.77, for a total value of $5,014,002.20. Following the transaction, the insider now directly owns 27,927 shares in the company, valued at $3,121,400.79. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

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)

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