Achmea Investment Management B.V. trimmed its position in shares of Prudential Financial Inc (NYSE:PRU) by 8.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 51,537 shares of the financial services provider’s stock after selling 4,501 shares during the quarter. Achmea Investment Management B.V.’s holdings in Prudential Financial were worth $5,220,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of PRU. Flagship Harbor Advisors LLC bought a new stake in shares of Prudential Financial in the 2nd quarter worth approximately $104,000. Sun Life Financial INC boosted its position in shares of Prudential Financial by 470.9% in the 2nd quarter. Sun Life Financial INC now owns 1,136 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 937 shares in the last quarter. Vigilant Capital Management LLC bought a new stake in shares of Prudential Financial in the 2nd quarter worth approximately $125,000. Financial Architects Inc boosted its position in shares of Prudential Financial by 303.9% in the 2nd quarter. Financial Architects Inc now owns 1,640 shares of the financial services provider’s stock worth $153,000 after purchasing an additional 1,234 shares in the last quarter. Finally, Centaurus Financial Inc. bought a new stake in shares of Prudential Financial in the 2nd quarter worth approximately $157,000. 63.15% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently commented on PRU shares. B. Riley dropped their price target on Prudential Financial from $129.00 to $116.00 and set a “buy” rating on the stock in a research report on Monday, July 16th. Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a research report on Monday, August 6th. Royal Bank of Canada reissued a “buy” rating and issued a $122.00 price target on shares of Prudential Financial in a research report on Friday, August 3rd. UBS Group boosted their price target on Prudential Financial from $125.00 to $126.00 and gave the stock a “buy” rating in a research report on Monday, October 8th. Finally, Goldman Sachs Group raised Prudential Financial from a “buy” rating to a “conviction-buy” rating in a research report on Monday, September 10th. 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 company currently has a consensus rating of “Buy” and a consensus target price of $119.31.
PRU stock opened at $95.85 on Friday. The company has a market capitalization of $41.02 billion, a P/E ratio of 9.06, a price-to-earnings-growth ratio of 0.90 and a beta of 1.44. Prudential Financial Inc has a 12-month low of $89.33 and a 12-month high of $127.14. The company has a current ratio of 0.12, a quick 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, November 7th. The financial services provider reported $3.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.16 by ($0.01). The business had revenue of $14.43 billion during the quarter, compared to the consensus estimate of $13.51 billion. Prudential Financial had a net margin of 13.16% and a return on equity of 9.98%. During the same period last year, the company posted $3.01 earnings per share. As a group, analysts forecast that Prudential Financial Inc will post 12.21 EPS for the current year.
In other Prudential Financial news, major shareholder Prudential Financial Inc acquired 880,000 shares of the stock in a transaction that occurred on Tuesday, October 16th. The shares were acquired at an average cost of $25.00 per share, with a total value of $22,000,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Scott Sleyster sold 23,300 shares of the company’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 directly owns 57,758 shares in the company, valued at $5,760,782.92. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.
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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.
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