Gofen & Glossberg LLC IL lowered its position in Prudential Financial Inc (NYSE:PRU) by 37.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,267 shares of the financial services provider’s stock after selling 9,066 shares during the quarter. Gofen & Glossberg LLC IL’s holdings in Prudential Financial were worth $1,547,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Oliver Luxxe Assets LLC boosted its stake in Prudential Financial by 3.8% during the third quarter. Oliver Luxxe Assets LLC now owns 31,558 shares of the financial services provider’s stock worth $3,296,000 after buying an additional 1,163 shares during the period. DNB Asset Management AS boosted its stake in Prudential Financial by 4.6% during the third quarter. DNB Asset Management AS now owns 102,905 shares of the financial services provider’s stock worth $10,426,000 after buying an additional 4,555 shares during the period. Gyroscope Capital Management Group LLC boosted its stake in Prudential Financial by 9.3% during the third quarter. Gyroscope Capital Management Group LLC now owns 73,628 shares of the financial services provider’s stock worth $7,691,000 after buying an additional 6,263 shares during the period. E&G Advisors LP boosted its stake in Prudential Financial by 5.4% during the third quarter. E&G Advisors LP now owns 11,700 shares of the financial services provider’s stock worth $1,185,000 after buying an additional 600 shares during the period. Finally, NEXT Financial Group Inc purchased a new position in Prudential Financial during the third quarter worth about $232,000. 63.59% of the stock is owned by hedge funds and other institutional investors.
NYSE PRU opened at $97.76 on Friday. 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 one year low of $92.05 and a one year high of $127.14. The company has a market capitalization of $42.25 billion, a PE ratio of 9.24, a price-to-earnings-growth ratio of 0.93 and a beta of 1.48.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, August 1st. The financial services provider reported $3.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.08 by ($0.07). Prudential Financial had a net margin of 13.16% and a return on equity of 9.98%. The business had revenue of $13.04 billion during the quarter, compared to analysts’ expectations of $14.19 billion. During the same period in the previous year, the business posted $2.09 EPS. Equities research analysts anticipate that Prudential Financial Inc will post 12.14 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 13th. Stockholders of record on Tuesday, August 21st were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 3.68%. The ex-dividend date was Monday, August 20th. Prudential Financial’s payout ratio is 34.03%.
In other news, insider Scott Sleyster sold 23,300 shares of the firm’s stock in a transaction that occurred on Friday, September 28th. The shares were sold at an average price of $99.74, for a total value of $2,323,942.00. Following the completion of the transaction, the insider now owns 57,758 shares of the company’s stock, valued at $5,760,782.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 23,349 shares of company stock valued at $2,327,695. Insiders own 0.61% of the company’s stock.
Several brokerages have weighed in on PRU. Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 target price for the company in a research note on Monday, October 8th. UBS Group increased their target price on shares of Prudential Financial from $125.00 to $126.00 and gave the stock a “buy” rating in a research note on Monday, October 8th. ValuEngine lowered shares of Prudential Financial from a “sell” rating to a “strong sell” rating in a research note on Friday, June 29th. B. Riley lowered their target price on shares of Prudential Financial from $129.00 to $116.00 and set a “buy” rating for the company in a research note on Monday, July 16th. Finally, Barclays lowered their target price on shares of Prudential Financial from $135.00 to $130.00 and set an “overweight” rating for the company in a research note on Monday, July 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $118.71.
Prudential Financial 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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