Global Financial Private Capital LLC lowered its position in shares of Prudential Financial Inc (NYSE:PRU) by 6.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,762 shares of the financial services provider’s stock after selling 2,073 shares during the period. Global Financial Private Capital LLC’s holdings in Prudential Financial were worth $3,015,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Mengis Capital Management Inc. increased its position in shares of Prudential Financial by 1.8% during the third quarter. Mengis Capital Management Inc. now owns 31,848 shares of the financial services provider’s stock valued at $3,226,000 after acquiring an additional 550 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Prudential Financial by 6.0% during the third quarter. Janney Montgomery Scott LLC now owns 86,843 shares of the financial services provider’s stock valued at $8,799,000 after acquiring an additional 4,899 shares in the last quarter. Icon Advisers Inc. Co. bought a new stake in shares of Prudential Financial during the third quarter valued at approximately $2,644,000. Gulf International Bank UK Ltd increased its position in shares of Prudential Financial by 5.5% during the third quarter. Gulf International Bank UK Ltd now owns 143,164 shares of the financial services provider’s stock valued at $14,505,000 after acquiring an additional 7,512 shares in the last quarter. Finally, BP PLC increased its position in shares of Prudential Financial by 4.0% during the third quarter. BP PLC now owns 52,000 shares of the financial services provider’s stock valued at $5,269,000 after acquiring an additional 2,000 shares in the last quarter. 63.15% of the stock is owned by institutional investors.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $111.00 price target for the company in a research report on Monday, August 6th. B. Riley reduced their price target on shares of Prudential Financial from $129.00 to $116.00 and set a “buy” rating for the company in a research report on Monday, July 16th. UBS Group raised their price target on shares of Prudential Financial from $125.00 to $126.00 and gave the company a “buy” rating in a research report on Monday, October 8th. ValuEngine raised shares of Prudential Financial from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 4th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $122.00 price target on shares of Prudential Financial in a research report on Friday, August 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Prudential Financial has a consensus rating of “Buy” and an average price target of $119.31.
In other Prudential Financial news, major shareholder Prudential Financial Inc purchased 880,000 shares of the company’s stock in a transaction dated Tuesday, October 16th. The shares were acquired at an average price of $25.00 per share, for a total transaction of $22,000,000.00. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Scott Sleyster sold 23,300 shares of Prudential Financial 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 disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.
NYSE:PRU opened at $95.85 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 12 month low of $89.33 and a 12 month high of $127.14. The company has a market capitalization of $41.99 billion, a price-to-earnings ratio of 8.44, a P/E/G ratio of 0.92 and a beta of 1.44.
Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, November 7th. The financial services provider reported $3.15 EPS for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.01). Prudential Financial had a return on equity of 9.97% and a net margin of 12.59%. The company had revenue of $14.43 billion during the quarter, compared to the consensus estimate of $13.51 billion. During the same period last year, the firm posted $3.01 EPS. On average, sell-side analysts forecast that Prudential Financial Inc will post 12.21 earnings per share for the current year.
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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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