St. Johns Investment Management Company LLC boosted its position in shares of Prudential Financial Inc (NYSE:PRU) by 6,294.3% in the first quarter, HoldingsChannel reports. The firm owned 3,389 shares of the financial services provider’s stock after acquiring an additional 3,336 shares during the period. St. Johns Investment Management Company LLC’s holdings in Prudential Financial were worth $311,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in Prudential Financial by 0.6% during the 4th quarter. BlackRock Inc. now owns 27,744,199 shares of the financial services provider’s stock worth $2,262,541,000 after purchasing an additional 164,442 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Prudential Financial by 8,297.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,932,559 shares of the financial services provider’s stock valued at $146,000 after acquiring an additional 11,790,464 shares in the last quarter. Norges Bank bought a new position in shares of Prudential Financial in the 4th quarter valued at about $632,295,000. Northern Trust Corp grew its holdings in shares of Prudential Financial by 6.3% in the 4th quarter. Northern Trust Corp now owns 5,154,006 shares of the financial services provider’s stock valued at $420,310,000 after acquiring an additional 305,259 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Prudential Financial by 6.8% in the 4th quarter. Geode Capital Management LLC now owns 5,129,191 shares of the financial services provider’s stock valued at $417,519,000 after acquiring an additional 326,075 shares in the last quarter. Hedge funds and other institutional investors own 65.60% of the company’s stock.
NYSE:PRU traded down $0.08 during mid-day trading on Wednesday, hitting $103.95. The stock had a trading volume of 71,852 shares, compared to its average volume of 2,035,022. Prudential Financial Inc has a twelve month low of $75.61 and a twelve month high of $108.92. The company has a market capitalization of $42.88 billion, a P/E ratio of 8.92, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.14 and a current ratio of 0.14.
Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, February 6th. The financial services provider reported $2.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.88 by ($0.44). Prudential Financial had a net margin of 7.01% and a return on equity of 10.20%. The firm had revenue of $17.78 billion during the quarter, compared to analyst estimates of $14.03 billion. During the same quarter last year, the business posted $2.69 earnings per share. As a group, equities analysts forecast that Prudential Financial Inc will post 12.7 earnings per share for the current year.
Several equities analysts have recently weighed in on PRU shares. Keefe, Bruyette & Woods restated a “buy” rating and issued a $113.00 price objective on shares of Prudential Financial in a report on Wednesday, January 9th. Evercore ISI upgraded Prudential Financial from an “in-line” rating to an “outperform” rating and set a $85.50 price objective for the company in a report on Wednesday, January 9th. Zacks Investment Research cut Prudential Financial from a “hold” rating to a “sell” rating in a report on Friday, February 1st. Wells Fargo & Co started coverage on Prudential Financial in a report on Tuesday, January 8th. They issued an “outperform” rating and a $105.00 price objective for the company. Finally, UBS Group raised their price objective on Prudential Financial from $108.00 to $114.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $112.21.
In related news, EVP Stephen Pelletier sold 6,532 shares of the firm’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $94.14, for a total value of $614,922.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas C. Silitch sold 13,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $95.25, for a total transaction of $1,238,250.00. The disclosure for this sale can be found here. Insiders sold a total of 45,538 shares of company stock valued at $4,298,777 over the last quarter. 0.76% of the stock is currently owned by company 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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