Somerville Kurt F bought a new position in shares of Prudential Financial Inc (NYSE:PRU) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,022 shares of the financial services provider’s stock, valued at approximately $205,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of PRU. Natixis lifted its holdings in shares of Prudential Financial by 6,036.0% during the second quarter. Natixis now owns 845,049 shares of the financial services provider’s stock worth $79,021,000 after buying an additional 831,277 shares in the last quarter. Hexavest Inc. acquired a new stake in shares of Prudential Financial during the second quarter worth $39,045,000. Advisors Asset Management Inc. raised its stake in Prudential Financial by 1,360.6% in the second quarter. Advisors Asset Management Inc. now owns 384,553 shares of the financial services provider’s stock valued at $2,158,000 after purchasing an additional 358,225 shares in the last quarter. OppenheimerFunds Inc. raised its stake in Prudential Financial by 36.5% in the second quarter. OppenheimerFunds Inc. now owns 1,124,424 shares of the financial services provider’s stock valued at $105,145,000 after purchasing an additional 300,886 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in Prudential Financial by 92.0% in the second quarter. First Trust Advisors LP now owns 544,990 shares of the financial services provider’s stock valued at $50,962,000 after purchasing an additional 261,210 shares in the last quarter. 63.15% of the stock is owned by institutional investors.
A number of research firms recently commented on PRU. Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 price target for the company in a research note on Monday, October 8th. UBS Group boosted their price target on Prudential Financial from $125.00 to $126.00 and gave the company a “buy” rating in a research note on Monday, October 8th. B. Riley boosted their price target on Prudential Financial from $116.00 to $124.00 and gave the company a “buy” rating in a research note on Tuesday, August 7th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $122.00 price target on shares of Prudential Financial in a research note on Friday, August 3rd. Finally, ValuEngine raised Prudential Financial from a “strong sell” rating to a “sell” rating in a research note on Tuesday, September 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $119.92.
Prudential Financial stock opened at $98.38 on Wednesday. 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. The stock has a market capitalization of $39.99 billion, a price-to-earnings ratio of 9.30, a price-to-earnings-growth ratio of 0.87 and a beta of 1.44.
In other Prudential Financial news, insider Scott Sleyster sold 23,300 shares of Prudential Financial stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $99.74, for a total value of $2,323,942.00. Following the transaction, the insider now owns 57,758 shares in the company, valued at $5,760,782.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Prudential Financial Inc purchased 880,000 shares of Prudential Financial stock in a transaction dated Tuesday, October 16th. The shares were purchased at an average price of $25.00 per share, for a total transaction of $22,000,000.00. The disclosure for this purchase can be found here. Insiders own 0.61% 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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