Nachman Norwood & Parrott Inc bought a new position in Prudential Financial Inc (NYSE:PRU) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 740 shares of the financial services provider’s stock, valued at approximately $47,000.
Other large investors also recently made changes to their positions in the company. Baystate Wealth Management LLC grew its position in Prudential Financial by 954.5% in the second quarter. Baystate Wealth Management LLC now owns 464 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 420 shares in the last quarter. CX Institutional grew its position in Prudential Financial by 104.3% in the third quarter. CX Institutional now owns 472 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 241 shares in the last quarter. Old North State Trust LLC purchased a new position in Prudential Financial in the third quarter worth $32,000. Pathstone Family Office LLC grew its position in Prudential Financial by 46.0% in the first quarter. Pathstone Family Office LLC now owns 524 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 165 shares in the last quarter. Finally, Tarbox Family Office Inc. grew its position in Prudential Financial by 59.5% in the second quarter. Tarbox Family Office Inc. now owns 555 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 207 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.
PRU has been the subject of several recent research reports. Piper Sandler lowered their price target on shares of Prudential Financial from $67.00 to $63.00 and set a “neutral” rating for the company in a research note on Thursday, July 2nd. Morgan Stanley boosted their price target on shares of Prudential Financial from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 6th. Wells Fargo & Company boosted their price target on shares of Prudential Financial from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 6th. Finally, ValuEngine downgraded shares of Prudential Financial from a “sell” rating to a “strong sell” rating in a research note on Monday, August 3rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $75.10.
Shares of NYSE:PRU opened at $66.27 on Friday. Prudential Financial Inc has a 12 month low of $38.62 and a 12 month high of $97.24. The company has a market cap of $26.18 billion, a price-to-earnings ratio of -106.89, a price-to-earnings-growth ratio of 0.81 and a beta of 1.69. The company has a 50-day moving average price of $66.82 and a 200-day moving average price of $62.36. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.30.
Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.13. Prudential Financial had a negative net margin of 0.25% and a positive return on equity of 6.13%. The company had revenue of $13.08 billion during the quarter, compared to the consensus estimate of $12.85 billion. During the same period in the prior year, the firm earned $3.03 earnings per share. As a group, research analysts forecast that Prudential Financial Inc will post 9.37 EPS for the current fiscal year.
In related news, SVP Timothy L. Schmidt sold 5,334 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $69.54, for a total value of $370,926.36. Following the completion of the transaction, the senior vice president now directly owns 27,784 shares of the company’s stock, valued at $1,932,099.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.33% of the stock is owned by corporate insiders.
About Prudential Financial
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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