Gilbert & Cook Inc. grew its position in Prudential Financial Inc (NYSE:PRU) by 4.3% during the third quarter, HoldingsChannel reports. The firm owned 3,027 shares of the financial services provider’s stock after buying an additional 126 shares during the quarter. Gilbert & Cook Inc.’s holdings in Prudential Financial were worth $272,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the company. First Business Financial Services Inc. bought a new position in shares of Prudential Financial in the third quarter valued at approximately $253,000. Benjamin F. Edwards & Company Inc. boosted its position in Prudential Financial by 42.2% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 8,465 shares of the financial services provider’s stock worth $761,000 after purchasing an additional 2,514 shares during the last quarter. Doliver Advisors LP purchased a new position in Prudential Financial in the third quarter worth $284,000. Alps Advisors Inc. boosted its position in Prudential Financial by 7.5% in the third quarter. Alps Advisors Inc. now owns 394,245 shares of the financial services provider’s stock worth $35,462,000 after purchasing an additional 27,634 shares during the last quarter. Finally, CNB Bank boosted its position in Prudential Financial by 195.5% in the third quarter. CNB Bank now owns 3,839 shares of the financial services provider’s stock worth $345,000 after purchasing an additional 2,540 shares during the last quarter. 62.75% of the stock is currently owned by institutional investors.
Shares of PRU traded up $1.05 during mid-day trading on Friday, hitting $92.89. The stock had a trading volume of 3,666,291 shares, compared to its average volume of 2,111,428. The firm has a market cap of $37.00 billion, a P/E ratio of 7.95, a PEG ratio of 0.85 and a beta of 1.57. The business has a fifty day moving average price of $89.97 and a 200-day moving average price of $93.72. 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 Inc has a 52 week low of $75.61 and a 52 week high of $106.39.
Prudential Financial (NYSE:PRU) last issued its earnings results on Monday, November 4th. The financial services provider reported $3.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.07 by $0.15. The firm had revenue of $12.93 billion for the quarter, compared to analyst estimates of $14.27 billion. Prudential Financial had a return on equity of 8.45% and a net margin of 6.67%. During the same period in the previous year, the company posted $3.15 earnings per share. As a group, research analysts expect that Prudential Financial Inc will post 11.98 earnings per share for the current fiscal year.
In related news, CEO Charles F. Lowrey acquired 7,500 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were bought at an average cost of $83.68 per share, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kenneth Tanji acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were bought at an average price of $83.84 per share, for a total transaction of $209,600.00. Following the completion of the purchase, the chief financial officer now owns 19,285 shares in the company, valued at approximately $1,616,854.40. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 13,580 shares of company stock worth $1,137,848. Corporate insiders own 0.76% of the company’s stock.
PRU has been the topic of several research analyst reports. Citigroup raised Prudential Financial to a “buy” rating in a research report on Friday, October 18th. Atlantic Securities cut Prudential Financial from an “overweight” rating to a “neutral” rating in a research report on Thursday, August 8th. Keefe, Bruyette & Woods cut Prudential Financial from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $107.00 to $102.00 in a research report on Wednesday. Credit Suisse Group reissued an “outperform” rating on shares of Prudential Financial in a research report on Thursday, October 17th. Finally, HSBC restated a “buy” rating on shares of Prudential Financial in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $96.81.
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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