Level Four Advisory Services LLC reduced its stake in Prudential Financial, Inc. (NYSE:PRU) by 65.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,675 shares of the financial services provider’s stock after selling 7,066 shares during the quarter. Level Four Advisory Services LLC’s holdings in Prudential Financial were worth $388,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of PRU. BlackRock Inc. lifted its holdings in shares of Prudential Financial by 3,296.9% in the 1st quarter. BlackRock Inc. now owns 32,220,957 shares of the financial services provider’s stock valued at $3,437,330,000 after buying an additional 31,272,429 shares during the period. Janus Henderson Group PLC raised its holdings in Prudential Financial by 1,997.1% during the second quarter. Janus Henderson Group PLC now owns 1,204,160 shares of the financial services provider’s stock worth $130,218,000 after purchasing an additional 1,146,739 shares during the last quarter. Vanguard Group Inc. raised its holdings in Prudential Financial by 3.3% during the first quarter. Vanguard Group Inc. now owns 30,272,486 shares of the financial services provider’s stock worth $3,229,469,000 after purchasing an additional 968,500 shares during the last quarter. AJO LP raised its holdings in Prudential Financial by 42.8% during the second quarter. AJO LP now owns 2,743,406 shares of the financial services provider’s stock worth $296,672,000 after purchasing an additional 821,881 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Prudential Financial by 48.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,247,204 shares of the financial services provider’s stock worth $243,013,000 after purchasing an additional 737,458 shares during the last quarter. 64.39% of the stock is owned by institutional investors and hedge funds.
In other Prudential Financial news, insider Stephen Pelletier sold 4,133 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $112.18, for a total value of $463,639.94. Following the transaction, the insider now directly owns 10,924 shares of the company’s stock, valued at $1,225,454.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicholas C. Silitch sold 14,897 shares of the firm’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $110.00, for a total transaction of $1,638,670.00. Following the completion of the transaction, the insider now directly owns 21,274 shares in the company, valued at $2,340,140. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.
Shares of Prudential Financial, Inc. (PRU) traded down 0.10% during midday trading on Friday, hitting $111.78. The stock had a trading volume of 330,866 shares. The stock has a 50-day moving average of $106.46 and a 200 day moving average of $106.93. Prudential Financial, Inc. has a 52 week low of $83.09 and a 52 week high of $115.26. The stock has a market cap of $47.73 billion, a PE ratio of 12.48 and a beta of 1.51.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.70 by ($0.61). Prudential Financial had a return on equity of 8.98% and a net margin of 7.15%. The firm had revenue of $13.03 billion for the quarter, compared to analyst estimates of $12.45 billion. During the same quarter last year, the company earned $1.84 earnings per share. Analysts anticipate that Prudential Financial, Inc. will post $10.16 EPS for the current fiscal year.
Several equities analysts have weighed in on the company. BidaskClub raised Prudential Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Keefe, Bruyette & Woods restated a “buy” rating on shares of Prudential Financial in a research note on Friday, August 11th. Wells Fargo & Company reiterated a “hold” rating on shares of Prudential Financial in a research note on Thursday, August 3rd. Zacks Investment Research upgraded Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 price target on the stock in a research note on Tuesday, October 10th. Finally, FBR & Co upgraded Prudential Financial from a “neutral” rating to a “buy” rating and cut their price target for the stock from $117.00 to $100.00 in a research note on Tuesday, October 10th. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $114.56.
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Prudential Financial 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.
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