Signature Estate & Investment Advisors LLC grew its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 15.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,491 shares of the financial services provider’s stock after acquiring an additional 2,351 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in Prudential Financial were worth $1,860,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Fieldpoint Private Securities LLC acquired a new position in Prudential Financial during the second quarter worth about $103,000. Hudock Capital Group LLC raised its stake in Prudential Financial by 0.7% during the second quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock worth $123,000 after acquiring an additional 8 shares in the last quarter. Legacy Advisors LLC acquired a new position in Prudential Financial during the third quarter worth about $129,000. Accurate Investment Solutions Inc. raised its stake in Prudential Financial by 2.3% during the second quarter. Accurate Investment Solutions Inc. now owns 1,664 shares of the financial services provider’s stock worth $180,000 after acquiring an additional 38 shares in the last quarter. Finally, Advisory Services Network LLC raised its stake in Prudential Financial by 128.8% during the second quarter. Advisory Services Network LLC now owns 1,700 shares of the financial services provider’s stock worth $184,000 after acquiring an additional 957 shares in the last quarter. 64.48% of the stock is owned by hedge funds and other institutional investors.
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PRU has been the subject of several research analyst reports. BidaskClub raised Prudential Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Prudential Financial in a research note on Friday, August 11th. Citigroup Inc. raised Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 target price for the company in a research note on Tuesday, October 17th. Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 target price for the company in a research note on Tuesday, October 10th. Finally, FBR & Co raised Prudential Financial from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $117.00 to $100.00 in a research note on Tuesday, October 10th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Prudential Financial currently has an average rating of “Buy” and an average price target of $115.13.
Prudential Financial, Inc. (NYSE PRU) traded down $0.28 during trading hours on Tuesday, reaching $110.44. 1,614,400 shares of the company’s stock were exchanged, compared to its average volume of 1,856,644. The firm has a market cap of $46,945.28, a P/E ratio of 10.70, a PEG ratio of 1.25 and a beta of 1.56. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.13 and a quick ratio of 0.13. Prudential Financial, Inc. has a twelve month low of $95.95 and a twelve month high of $115.26.
Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.30. The business had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $12.24 billion. Prudential Financial had a net margin of 7.71% and a return on equity of 9.51%. During the same quarter in the prior year, the firm posted $2.66 EPS. research analysts expect that Prudential Financial, Inc. will post 10.38 EPS for the current fiscal year.
In other Prudential Financial news, EVP Charles F. Lowrey sold 44,630 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $111.91, for a total transaction of $4,994,543.30. Following the transaction, the executive vice president now directly owns 79,354 shares in the company, valued at approximately $8,880,506.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nicholas C. Silitch sold 44,860 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $111.77, for a total value of $5,014,002.20. Following the transaction, the insider now owns 27,927 shares in the company, valued at $3,121,400.79. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.
About Prudential Financial
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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