Sei Investments Co. Increases Stake in Prudential Financial, Inc. (PRU)

Sei Investments Co. lifted its stake in Prudential Financial, Inc. (NYSE:PRU) by 19.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 82,017 shares of the financial services provider’s stock after acquiring an additional 13,289 shares during the quarter. Sei Investments Co.’s holdings in Prudential Financial were worth $8,720,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Fieldpoint Private Securities LLC acquired a new stake in shares of Prudential Financial in the 2nd quarter valued at $103,000. Hudock Capital Group LLC grew its position in shares of Prudential Financial by 0.7% in the 2nd quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock valued at $123,000 after buying an additional 8 shares during the last quarter. Legacy Advisors LLC purchased a new position in shares of Prudential Financial in the 3rd quarter valued at $129,000. Accurate Investment Solutions Inc. grew its position in shares of Prudential Financial by 2.3% in the 2nd quarter. Accurate Investment Solutions Inc. now owns 1,664 shares of the financial services provider’s stock valued at $180,000 after buying an additional 38 shares during the last quarter. Finally, Advisory Services Network LLC grew its position in Prudential Financial by 128.8% during the 2nd quarter. Advisory Services Network LLC now owns 1,700 shares of the financial services provider’s stock worth $184,000 after purchasing an additional 957 shares during the last quarter. Hedge funds and other institutional investors own 64.65% of the company’s stock.

Several brokerages have recently weighed in on PRU. ValuEngine raised shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Tuesday. B. Riley reiterated a “buy” rating on shares of Prudential Financial in a research note on Monday, November 6th. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Prudential Financial in a research note on Friday, August 11th. BidaskClub cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Finally, Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 price target for the company in a report on Tuesday, October 10th. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $115.64.

Shares of Prudential Financial, Inc. (PRU) traded up $0.95 during trading hours on Thursday, hitting $116.33. 1,035,868 shares of the company’s stock were exchanged, compared to its average volume of 1,847,389. The firm has a market capitalization of $48,976.24, a PE ratio of 11.16, a price-to-earnings-growth ratio of 1.30 and a beta of 1.55. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.34. Prudential Financial, Inc. has a 52 week low of $97.88 and a 52 week high of $117.99.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.71 by $0.30. Prudential Financial had a net margin of 7.71% and a return on equity of 9.51%. The company had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $12.24 billion. During the same period in the prior year, the company earned $2.66 EPS. sell-side analysts predict that Prudential Financial, Inc. will post 10.44 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Monday, November 27th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend is Friday, November 24th. Prudential Financial’s dividend payout ratio is presently 30.18%.

In related news, EVP Timothy P. Harris sold 10,527 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $115.00, for a total value of $1,210,605.00. The transaction was disclosed in a filing with the SEC, which is available at 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 completion of the transaction, the insider now owns 27,927 shares in the company, valued at approximately $3,121,400.79. The disclosure for this sale can be found here. Insiders sold 100,017 shares of company stock valued at $11,219,151 over the last three months. 0.66% of the stock is owned by insiders.

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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.

Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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