Bank of The West raised its position in Prudential Financial Inc (NYSE:PRU) by 3.1% in the 3rd quarter, Holdings Channel reports. The fund owned 74,845 shares of the financial services provider’s stock after purchasing an additional 2,222 shares during the period. Bank of The West’s holdings in Prudential Financial were worth $6,732,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Buckingham Capital Management Inc. grew its position in shares of Prudential Financial by 5.5% during the first quarter. Buckingham Capital Management Inc. now owns 16,382 shares of the financial services provider’s stock worth $1,505,000 after buying an additional 850 shares in the last quarter. DNB Asset Management AS lifted its stake in Prudential Financial by 15.7% during the second quarter. DNB Asset Management AS now owns 88,817 shares of the financial services provider’s stock worth $8,971,000 after purchasing an additional 12,084 shares during the last quarter. Denali Advisors LLC lifted its stake in Prudential Financial by 12.2% during the second quarter. Denali Advisors LLC now owns 21,100 shares of the financial services provider’s stock worth $2,131,000 after purchasing an additional 2,300 shares during the last quarter. WINTON GROUP Ltd lifted its stake in Prudential Financial by 19.9% during the second quarter. WINTON GROUP Ltd now owns 150,950 shares of the financial services provider’s stock worth $15,246,000 after purchasing an additional 25,013 shares during the last quarter. Finally, Douglas Lane & Associates LLC lifted its stake in Prudential Financial by 1.2% during the second quarter. Douglas Lane & Associates LLC now owns 909,198 shares of the financial services provider’s stock worth $91,829,000 after purchasing an additional 10,867 shares during the last quarter. 63.23% of the stock is owned by institutional investors.
PRU has been the topic of several research analyst reports. Atlantic Securities cut Prudential Financial from an “overweight” rating to a “neutral” rating in a research note on Thursday, August 8th. Deutsche Bank cut Prudential Financial to a “hold” rating in a research note on Wednesday, October 23rd. UBS Group raised their price objective on Prudential Financial from $84.00 to $85.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Royal Bank of Canada restated a “neutral” rating on shares of Prudential Financial in a research note on Friday, October 18th. Finally, Citigroup upgraded Prudential Financial to a “buy” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $98.71.
In related news, EVP Scott Sleyster sold 12,994 shares of Prudential Financial stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $90.00, for a total transaction of $1,169,460.00. Following the transaction, the executive vice president now directly owns 55,746 shares of the company’s stock, valued at $5,017,140. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Robert Falzon bought 3,580 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were purchased at an average cost of $83.98 per share, for a total transaction of $300,648.40. Following the completion of the acquisition, the executive vice president now owns 64,228 shares of the company’s stock, valued at $5,393,867.44. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 13,580 shares of company stock worth $1,137,848. 0.76% of the stock is owned by corporate insiders.
NYSE:PRU opened at $93.12 on Tuesday. The business’s 50-day moving average price is $88.96 and its 200 day moving average price is $94.25. The firm has a market cap of $36.69 billion, a P/E ratio of 7.97, a PEG ratio of 0.82 and a beta of 1.57. Prudential Financial Inc has a 52-week low of $75.61 and a 52-week high of $106.39. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.29.
Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, July 31st. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.22 by ($0.08). The firm had revenue of $14.11 billion for the quarter, compared to analyst estimates of $13.63 billion. Prudential Financial had a return on equity of 9.24% and a net margin of 6.92%. During the same period in the previous year, the firm earned $3.01 earnings per share. Sell-side analysts expect that Prudential Financial Inc will post 12.32 EPS for the current year.
Prudential Financial Company Profile
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.
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