First Business Financial Services Inc. acquired a new position in Prudential Financial Inc (NYSE:PRU) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,810 shares of the financial services provider’s stock, valued at approximately $253,000.
A number of other institutional investors have also bought and sold shares of PRU. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Prudential Financial by 42.2% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 8,465 shares of the financial services provider’s stock valued at $761,000 after acquiring an additional 2,514 shares during the period. Doliver Advisors LP acquired a new position in shares of Prudential Financial during the third quarter valued at $284,000. Alps Advisors Inc. lifted its stake in shares of Prudential Financial by 7.5% during the third quarter. Alps Advisors Inc. now owns 394,245 shares of the financial services provider’s stock valued at $35,462,000 after acquiring an additional 27,634 shares during the period. CNB Bank lifted its stake in shares of Prudential Financial by 195.5% during the third quarter. CNB Bank now owns 3,839 shares of the financial services provider’s stock valued at $345,000 after acquiring an additional 2,540 shares during the period. Finally, First Trust Advisors LP increased its holdings in Prudential Financial by 8.5% in the third quarter. First Trust Advisors LP now owns 418,174 shares of the financial services provider’s stock valued at $37,615,000 after purchasing an additional 32,835 shares during the last quarter. 62.75% of the stock is currently owned by institutional investors.
In other Prudential Financial news, CEO Charles F. Lowrey purchased 7,500 shares of the stock in a transaction on Monday, September 9th. The stock was bought at an average cost of $83.68 per share, for a total transaction of $627,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 64,263 shares of the company’s stock, valued at $5,377,527.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kenneth Tanji purchased 2,500 shares of the stock in a transaction on Monday, September 9th. The stock was acquired at an average price of $83.84 per share, with a total value of $209,600.00. Following the completion of the acquisition, the chief financial officer now directly owns 19,285 shares of the company’s stock, valued at $1,616,854.40. The disclosure for this purchase can be found here. Insiders acquired 13,580 shares of company stock valued at $1,137,848 over the last 90 days. Corporate insiders own 0.76% of the company’s stock.
A number of equities research analysts recently commented on PRU shares. Credit Suisse Group reiterated an “outperform” rating on shares of Prudential Financial in a report on Thursday, October 17th. Atlantic Securities downgraded Prudential Financial from an “overweight” rating to a “neutral” rating in a report on Thursday, August 8th. ValuEngine upgraded Prudential Financial from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. dropped their price objective on Prudential Financial from $115.00 to $110.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Zacks Investment Research upgraded Prudential Financial from a “sell” rating to a “hold” rating and set a $89.00 price objective for the company in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $96.81.
Shares of Prudential Financial stock traded up $1.05 during trading hours on Friday, hitting $92.89. The company’s stock had a trading volume of 3,666,291 shares, compared to its average volume of 2,111,428. Prudential Financial Inc has a 12 month low of $75.61 and a 12 month high of $106.39. The stock has a 50 day moving average of $89.97 and a 200 day moving average of $93.72. The company has a market capitalization of $37.00 billion, a PE ratio of 7.95, a price-to-earnings-growth ratio of 0.85 and a beta of 1.57. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.11 and a quick ratio of 0.11.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Monday, November 4th. The financial services provider reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $0.15. Prudential Financial had a return on equity of 8.45% and a net margin of 6.67%. The company had revenue of $12.93 billion during the quarter, compared to the consensus estimate of $14.27 billion. During the same period in the prior year, the company earned $3.15 earnings per share. Equities analysts expect that Prudential Financial Inc will post 11.98 EPS for the current year.
Prudential Financial Company 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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