NEXT Financial Group Inc acquired a new stake in Prudential Financial Inc (NYSE:PRU) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,290 shares of the financial services provider’s stock, valued at approximately $232,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Flagship Harbor Advisors LLC acquired a new stake in shares of Prudential Financial in the second quarter valued at approximately $104,000. Sun Life Financial INC lifted its position in shares of Prudential Financial by 470.9% in the second quarter. Sun Life Financial INC now owns 1,136 shares of the financial services provider’s stock valued at $106,000 after buying an additional 937 shares during the last quarter. McKinley Carter Wealth Services Inc. acquired a new stake in shares of Prudential Financial in the first quarter valued at approximately $122,000. Vigilant Capital Management LLC acquired a new stake in shares of Prudential Financial in the second quarter valued at approximately $125,000. Finally, Financial Architects Inc lifted its position in shares of Prudential Financial by 303.9% in the second quarter. Financial Architects Inc now owns 1,640 shares of the financial services provider’s stock valued at $153,000 after buying an additional 1,234 shares during the last quarter. 63.59% of the stock is owned by institutional investors.
In other Prudential Financial news, insider Scott Sleyster sold 23,300 shares of the firm’s stock in a transaction on Friday, September 28th. The stock was sold at an average price of $99.74, for a total transaction of $2,323,942.00. Following the transaction, the insider now owns 57,758 shares in the company, valued at approximately $5,760,782.92. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 23,349 shares of company stock worth $2,327,695. Corporate insiders own 0.61% of the company’s stock.
NYSE:PRU opened at $102.79 on Thursday. The company has a market cap of $42.25 billion, a P/E ratio of 9.72, a PEG ratio of 0.93 and a beta of 1.48. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.34. Prudential Financial Inc has a 1-year low of $92.05 and a 1-year high of $127.14.
Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, August 1st. The financial services provider reported $3.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.08 by ($0.07). Prudential Financial had a return on equity of 9.98% and a net margin of 13.16%. The firm had revenue of $13.04 billion for the quarter, compared to analyst estimates of $14.19 billion. During the same period in the previous year, the business posted $2.09 earnings per share. As a group, equities research analysts forecast that Prudential Financial Inc will post 12.14 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 13th. Shareholders of record on Tuesday, August 21st were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Monday, August 20th. This represents a $3.60 dividend on an annualized basis and a yield of 3.50%. Prudential Financial’s dividend payout ratio (DPR) is presently 34.03%.
PRU has been the subject of several research reports. Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $106.00 price target for the company in a report on Monday, July 9th. B. Riley dropped their price target on Prudential Financial from $129.00 to $116.00 and set a “buy” rating for the company in a report on Monday, July 16th. Royal Bank of Canada reissued a “buy” rating and set a $122.00 price target on shares of Prudential Financial in a report on Friday, August 3rd. UBS Group lifted their price target on Prudential Financial from $125.00 to $126.00 and gave the stock a “buy” rating in a report on Monday. Finally, Goldman Sachs Group raised Prudential Financial from a “buy” rating to a “conviction-buy” rating in a report on Monday, September 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Prudential Financial currently has a consensus rating of “Buy” and a consensus target price of $118.71.
Prudential Financial Company Profile
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through U.S. Individual Solutions, U.S. Workplace Solutions, Investment Management, and International Insurance divisions.
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