BB&T Corp lifted its position in Prudential Financial Inc (NYSE:PRU) by 5.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 62,093 shares of the financial services provider’s stock after buying an additional 3,250 shares during the quarter. BB&T Corp’s holdings in Prudential Financial were worth $6,292,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. Natixis increased its holdings in Prudential Financial by 6,036.0% during the 2nd quarter. Natixis now owns 845,049 shares of the financial services provider’s stock worth $79,021,000 after purchasing an additional 831,277 shares during the period. NEXT Financial Group Inc purchased a new stake in Prudential Financial during the 3rd quarter worth about $232,000. Renaissance Technologies LLC increased its holdings in Prudential Financial by 31.2% during the 2nd quarter. Renaissance Technologies LLC now owns 822,747 shares of the financial services provider’s stock worth $76,935,000 after purchasing an additional 195,647 shares during the period. Putnam Investments LLC increased its holdings in Prudential Financial by 4.3% during the 2nd quarter. Putnam Investments LLC now owns 382,036 shares of the financial services provider’s stock worth $35,724,000 after purchasing an additional 15,636 shares during the period. Finally, AT Bancorp increased its holdings in Prudential Financial by 464.9% during the 2nd quarter. AT Bancorp now owns 12,282 shares of the financial services provider’s stock worth $1,148,000 after purchasing an additional 10,108 shares during the period. Hedge funds and other institutional investors own 63.64% of the company’s stock.
PRU has been the topic of several recent research reports. ValuEngine downgraded Prudential Financial from a “sell” rating to a “strong sell” rating in a report on Friday, June 29th. Barclays cut their price target on Prudential Financial from $135.00 to $130.00 and set an “overweight” rating on the stock in a report on Monday, July 9th. Zacks Investment Research upgraded Prudential Financial from a “hold” rating to a “buy” rating and set a $106.00 price target on the stock in a report on Monday, July 9th. B. Riley cut their price target on Prudential Financial from $129.00 to $116.00 and set a “buy” rating on the stock in a report on Monday, July 16th. Finally, Royal Bank of Canada restated a “buy” rating and set a $122.00 price target on shares of Prudential Financial in a report on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $119.92.
NYSE:PRU opened at $97.60 on Friday. The stock has a market cap of $41.57 billion, a PE ratio of 9.22, a price-to-earnings-growth ratio of 0.91 and a beta of 1.48. Prudential Financial Inc has a 1 year low of $92.05 and a 1 year high of $127.14. 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 (NYSE:PRU) last released its quarterly earnings data on Wednesday, August 1st. The financial services provider reported $3.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.08 by ($0.07). The business had revenue of $13.04 billion for the quarter, compared to analyst estimates of $14.19 billion. Prudential Financial had a return on equity of 9.98% and a net margin of 13.16%. During the same period in the prior year, the company posted $2.09 earnings per share. As a group, research analysts forecast that Prudential Financial Inc will post 12.21 earnings per share for the current year.
In related news, insider Scott Sleyster sold 23,300 shares of the company’s stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $99.74, for a total value of $2,323,942.00. Following the completion of the sale, the insider now directly owns 57,758 shares of the company’s stock, valued at approximately $5,760,782.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Prudential Financial Inc bought 880,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 16th. The stock was purchased at an average cost of $25.00 per share, with a total value of $22,000,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 23,349 shares of company stock valued at $2,327,695. Insiders own 0.66% of the company’s stock.
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.
Further Reading: Intrinsic Value and Stock Selection
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