Commerzbank Aktiengesellschaft FI grew its position in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 41.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 20,279 shares of the financial services provider's stock after acquiring an additional 5,961 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in Prudential Financial were worth $2,456,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of PRU. Wellington Management Group LLP increased its holdings in Prudential Financial by 0.9% in the fourth quarter. Wellington Management Group LLP now owns 39,001 shares of the financial services provider's stock valued at $4,045,000 after purchasing an additional 337 shares during the period. Los Angeles Capital Management LLC acquired a new stake in Prudential Financial in the first quarter valued at $215,000. Park Avenue Securities LLC increased its holdings in Prudential Financial by 4.1% in the first quarter. Park Avenue Securities LLC now owns 7,321 shares of the financial services provider's stock valued at $859,000 after purchasing an additional 291 shares during the period. AdvisorNet Financial Inc increased its holdings in Prudential Financial by 17.8% in the first quarter. AdvisorNet Financial Inc now owns 3,859 shares of the financial services provider's stock valued at $453,000 after purchasing an additional 582 shares during the period. Finally, Global Assets Advisory LLC acquired a new stake in Prudential Financial in the first quarter valued at $4,314,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Prudential Financial
In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the stock in a transaction on Tuesday, October 8th. The stock was acquired at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the purchase, the insider now directly owns 4,208,549 shares of the company's stock, valued at approximately $116,071,781.42. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Caroline Feeney sold 1,110 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now owns 10,175 shares in the company, valued at $1,220,694.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of Prudential Financial stock in a transaction that occurred on Tuesday, October 8th. The shares were bought at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the transaction, the insider now directly owns 4,208,549 shares of the company's stock, valued at $116,071,781.42. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by insiders.
Prudential Financial Price Performance
Shares of PRU traded down $0.48 during mid-day trading on Wednesday, reaching $125.16. 848,188 shares of the stock traded hands, compared to its average volume of 1,481,552. The firm has a fifty day moving average price of $119.79 and a 200 day moving average price of $117.69. The company has a market cap of $44.93 billion, a price-to-earnings ratio of 21.29, a price-to-earnings-growth ratio of 0.97 and a beta of 1.30. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. Prudential Financial, Inc. has a 1 year low of $87.95 and a 1 year high of $128.52.
Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing analysts' consensus estimates of $3.43 by ($0.04). Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. The firm had revenue of $13.84 billion for the quarter, compared to analysts' expectations of $13.78 billion. As a group, equities research analysts predict that Prudential Financial, Inc. will post 13.3 earnings per share for the current year.
Prudential Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial's dividend payout ratio is currently 88.44%.
Analyst Ratings Changes
PRU has been the subject of a number of recent analyst reports. Jefferies Financial Group decreased their price target on Prudential Financial from $143.00 to $141.00 and set a "buy" rating for the company in a report on Friday, June 28th. UBS Group increased their price target on Prudential Financial from $112.00 to $119.00 and gave the stock a "neutral" rating in a report on Tuesday, August 13th. Argus upgraded Prudential Financial to a "strong-buy" rating in a report on Thursday, August 8th. Barclays assumed coverage on Prudential Financial in a report on Wednesday, September 4th. They set an "equal weight" rating and a $118.00 price target for the company. Finally, Morgan Stanley reduced their target price on Prudential Financial from $123.00 to $122.00 and set an "equal weight" rating for the company in a research note on Monday, August 19th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $123.69.
Get Our Latest Stock Analysis on PRU
Prudential Financial Company Profile
(
Free Report)
Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.
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