Bernardo Wealth Planning LLC bought a new stake in Prudential Financial Inc (NYSE:PRU) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,332 shares of the financial services provider’s stock, valued at approximately $209,000.
A number of other institutional investors also recently modified their holdings of PRU. Coastal Capital Group Inc. acquired a new stake in Prudential Financial during the second quarter worth approximately $25,000. WealthStone Inc. acquired a new stake in Prudential Financial during the second quarter worth approximately $25,000. Candriam Luxembourg S.C.A. boosted its position in Prudential Financial by 1.4% during the third quarter. Candriam Luxembourg S.C.A. now owns 241,941 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 3,264 shares during the last quarter. Ibex Wealth Advisors acquired a new stake in Prudential Financial during the second quarter worth approximately $26,000. Finally, Virtus ETF Advisers LLC acquired a new stake in Prudential Financial during the second quarter worth approximately $26,000. 62.75% of the stock is owned by institutional investors.
In other Prudential Financial news, CEO Charles F. Lowrey bought 7,500 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were acquired at an average price of $83.68 per share, with a total value of $627,600.00. Following the purchase, the chief executive officer now owns 64,263 shares in the company, valued at approximately $5,377,527.84. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Scott Sleyster sold 12,994 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $90.00, for a total transaction of $1,169,460.00. Following the completion of the transaction, the executive vice president now directly owns 55,746 shares in the company, valued at approximately $5,017,140. The disclosure for this sale can be found here. In the last three months, insiders bought 13,580 shares of company stock worth $1,137,848. Insiders own 0.76% of the company’s stock.
Shares of PRU stock traded up $0.86 during mid-day trading on Friday, reaching $92.70. The company’s stock had a trading volume of 151,008 shares, compared to its average volume of 1,979,005. The company’s 50 day simple moving average is $89.92 and its 200-day simple moving average is $93.77. Prudential Financial Inc has a 12-month low of $75.61 and a 12-month high of $106.39. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $37.00 billion, a PE ratio of 7.93, a price-to-earnings-growth ratio of 0.85 and a beta of 1.57.
Prudential Financial (NYSE:PRU) last issued its earnings results on Monday, November 4th. The financial services provider reported $3.22 EPS for the quarter, beating the Zacks’ consensus estimate of $3.07 by $0.15. Prudential Financial had a net margin of 6.67% and a return on equity of 8.45%. The business had revenue of $12.93 billion for the quarter, compared to the consensus estimate of $14.27 billion. During the same quarter last year, the firm posted $3.15 EPS. As a group, research analysts anticipate that Prudential Financial Inc will post 11.98 EPS for the current fiscal year.
A number of equities analysts have weighed in on the stock. Morgan Stanley decreased their price target on shares of Prudential Financial from $108.00 to $106.00 and set an “equal weight” rating on the stock in a report on Tuesday. Royal Bank of Canada reiterated a “neutral” rating on shares of Prudential Financial in a report on Friday, October 18th. ValuEngine upgraded shares of Prudential Financial from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 25th. Barclays set a $108.00 price target on shares of Prudential Financial and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Credit Suisse Group reiterated an “outperform” rating on shares of Prudential Financial in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $96.81.
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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