Wealthfront Advisers LLC cut its holdings in shares of Prudential Financial Inc (NYSE:PRU) by 3.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,153 shares of the financial services provider’s stock after selling 967 shares during the period. Wealthfront Advisers LLC’s holdings in Prudential Financial were worth $2,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of PRU. Coastal Capital Group Inc. acquired a new position in Prudential Financial during the second quarter valued at $25,000. WealthStone Inc. acquired a new position in Prudential Financial during the second quarter valued at $25,000. Ibex Wealth Advisors acquired a new position in Prudential Financial during the second quarter valued at $26,000. Virtus ETF Advisers LLC acquired a new position in Prudential Financial during the second quarter valued at $26,000. Finally, Bartlett & Co. LLC lifted its position in Prudential Financial by 163.0% during the second quarter. Bartlett & Co. LLC now owns 263 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 163 shares during the period. Institutional investors own 63.22% of the company’s stock.
In related news, CEO Charles F. Lowrey purchased 7,500 shares of Prudential Financial stock in a transaction that occurred on Monday, September 9th. The stock was purchased at an average price of $83.68 per share, for a total transaction of $627,600.00. Following the transaction, the chief executive officer now directly owns 64,263 shares in the company, valued at $5,377,527.84. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Robert Falzon purchased 3,580 shares of Prudential Financial stock in a transaction that occurred on Monday, September 9th. The shares were bought at an average price of $83.98 per share, with a total value of $300,648.40. Following the transaction, the executive vice president now owns 64,228 shares in the company, valued at $5,393,867.44. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 13,580 shares of company stock valued at $1,137,848. Insiders own 0.76% of the company’s stock.
Shares of Prudential Financial stock traded down $0.38 during trading hours on Wednesday, reaching $89.57. The stock had a trading volume of 41,337 shares, compared to its average volume of 2,192,986. The stock’s 50 day moving average is $86.17 and its 200 day moving average is $94.57. The firm has a market capitalization of $35.95 billion, a PE ratio of 7.66, a PEG ratio of 0.80 and a beta of 1.57. Prudential Financial Inc has a twelve month low of $75.61 and a twelve month high of $106.39. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.29.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $3.14 earnings per share for the quarter, missing analysts’ consensus estimates of $3.22 by ($0.08). The firm had revenue of $14.11 billion during the quarter, compared to analyst estimates of $13.63 billion. Prudential Financial had a return on equity of 9.24% and a net margin of 6.92%. During the same quarter last year, the company posted $3.01 EPS. As a group, sell-side analysts predict that Prudential Financial Inc will post 12.34 earnings per share for the current year.
A number of research analysts recently issued reports on the stock. Credit Suisse Group decreased their target price on shares of Prudential Financial from $98.00 to $90.00 and set a “neutral” rating for the company in a research report on Monday, September 30th. Goldman Sachs Group decreased their target price on shares of Prudential Financial from $107.00 to $99.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. ValuEngine upgraded shares of Prudential Financial from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 25th. Citigroup decreased their target price on shares of Prudential Financial from $94.00 to $88.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. Finally, Wells Fargo & Co set a $115.00 target price on shares of Prudential Financial and gave the company a “buy” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $98.71.
Prudential Financial Profile
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.
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