IFP Advisors Inc Has $1.87 Million Stake in Prudential Financial, Inc. (NYSE:PRU)
IFP Advisors Inc raised its stake in Prudential Financial, Inc. (NYSE:PRU) by 5.1% during the second quarter, Holdings Channel reports. The fund owned 17,257 shares of the financial services provider’s stock after buying an additional 842 shares during the period. IFP Advisors Inc’s holdings in Prudential Financial were worth $1,866,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Quadrature Capital Ltd acquired a new position in Prudential Financial during the fourth quarter valued at approximately $343,000. CENTRAL TRUST Co increased its position in Prudential Financial by 4.1% in the first quarter. CENTRAL TRUST Co now owns 5,399 shares of the financial services provider’s stock valued at $576,000 after buying an additional 211 shares during the last quarter. Trust Co acquired a new position in Prudential Financial during the fourth quarter valued at approximately $209,000. Creative Planning increased its position in Prudential Financial by 9.2% in the first quarter. Creative Planning now owns 13,392 shares of the financial services provider’s stock valued at $1,429,000 after buying an additional 1,125 shares during the last quarter. Finally, Gillespie Robinson & Grimm Inc. increased its position in Prudential Financial by 10.5% in the first quarter. Gillespie Robinson & Grimm Inc. now owns 2,899 shares of the financial services provider’s stock valued at $309,000 after buying an additional 275 shares during the last quarter. 63.51% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Prudential Financial, Inc. (NYSE PRU) opened at 111.69 on Tuesday. Prudential Financial, Inc. has a 1-year low of $73.93 and a 1-year high of $114.55. The company has a market cap of $48.03 billion, a PE ratio of 12.23 and a beta of 1.50. The company has a 50 day moving average of $109.66 and a 200 day moving average of $107.87.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 EPS for the quarter, missing the Zacks’ consensus estimate of $2.70 by $0.61. Prudential Financial had a net margin of 7.15% and a return on equity of 8.98%. The company had revenue of $13.03 billion during the quarter, compared to analyst estimates of $12.45 billion. During the same quarter last year, the company posted $1.84 EPS. Equities analysts expect that Prudential Financial, Inc. will post $10.35 earnings per share for the current fiscal year.
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PRU has been the topic of several analyst reports. Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 target price on the stock in a research report on Tuesday, April 18th. Deutsche Bank AG increased their target price on shares of Prudential Financial from $114.00 to $117.00 and gave the stock a “buy” rating in a research report on Wednesday, April 19th. Credit Suisse Group reissued a “hold” rating and set a $121.00 target price on shares of Prudential Financial in a research report on Thursday, April 27th. Wells Fargo & Company reissued a “hold” rating on shares of Prudential Financial in a research report on Thursday, May 4th. Finally, ValuEngine raised shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Prudential Financial has an average rating of “Buy” and an average target price of $111.21.
In related news, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $110.00, for a total value of $22,174,350.00. Following the transaction, the chairman now owns 456,121 shares in the company, valued at approximately $50,173,310. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.66% of the stock is currently owned by corporate insiders.
Prudential Financial Company Profile
Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.
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