Prudential Financial, Inc. (PRU) Holdings Reduced by Wells Fargo & Company MN
Wells Fargo & Company MN decreased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 8.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,756,380 shares of the financial services provider’s stock after selling 156,313 shares during the period. Wells Fargo & Company MN owned 0.41% of Prudential Financial worth $186,739,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Douglas Lane & Associates LLC raised its stake in Prudential Financial by 3.1% during the 3rd quarter. Douglas Lane & Associates LLC now owns 647,412 shares of the financial services provider’s stock worth $68,833,000 after acquiring an additional 19,238 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in Prudential Financial by 25.3% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 21,649 shares of the financial services provider’s stock worth $2,341,000 after acquiring an additional 4,372 shares during the period. Seizert Capital Partners LLC raised its position in shares of Prudential Financial by 2.2% during the second quarter. Seizert Capital Partners LLC now owns 114,414 shares of the financial services provider’s stock valued at $12,373,000 after buying an additional 2,421 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Prudential Financial by 5.0% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 42,113 shares of the financial services provider’s stock valued at $4,477,000 after buying an additional 1,990 shares during the last quarter. Finally, APG Asset Management N.V. raised its position in shares of Prudential Financial by 171.8% during the third quarter. APG Asset Management N.V. now owns 2,704,719 shares of the financial services provider’s stock valued at $287,566,000 after buying an additional 1,709,699 shares during the last quarter. Institutional investors own 64.68% of the company’s stock.
PRU has been the topic of several recent analyst reports. Royal Bank Of Canada reiterated a “hold” rating and set a $119.00 price objective on shares of Prudential Financial in a research report on Friday, November 3rd. Morgan Stanley lifted their price objective on shares of Prudential Financial from $123.00 to $124.00 and gave the company an “equal weight” rating in a research report on Thursday, November 2nd. Goldman Sachs Group initiated coverage on shares of Prudential Financial in a research report on Wednesday, October 18th. They set a “neutral” rating and a $114.00 price objective on the stock. Citigroup upgraded shares of Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 price objective on the stock in a research report on Tuesday, October 17th. Finally, Wells Fargo & Company reiterated a “hold” rating and set a $120.00 price objective (up previously from $114.00) on shares of Prudential Financial in a research report on Wednesday, November 8th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $115.64.
In other Prudential Financial news, insider Nicholas C. Silitch sold 44,860 shares of Prudential Financial stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $111.77, for a total transaction of $5,014,002.20. Following the completion of the transaction, the insider now directly owns 27,927 shares of the company’s stock, valued at $3,121,400.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Charles F. Lowrey sold 44,630 shares of Prudential Financial stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $111.91, for a total transaction of $4,994,543.30. Following the transaction, the executive vice president now directly owns 79,354 shares of the company’s stock, valued at $8,880,506.14. The disclosure for this sale can be found here. Insiders have sold 100,017 shares of company stock valued at $11,219,151 over the last ninety days. 0.66% of the stock is owned by insiders.
Prudential Financial, Inc. (NYSE PRU) traded down $0.50 during midday trading on Friday, reaching $115.40. 1,660,000 shares of the company’s stock traded hands, compared to its average volume of 1,723,989. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.13 and a quick ratio of 0.13. The stock has a market capitalization of $49,128.88, a price-to-earnings ratio of 11.19, a price-to-earnings-growth ratio of 1.31 and a beta of 1.55. Prudential Financial, Inc. has a 52 week low of $97.88 and a 52 week high of $117.59.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.01 EPS for the quarter, topping the consensus estimate of $2.71 by $0.30. The company had revenue of $13.36 billion during the quarter, compared to analyst estimates of $12.24 billion. Prudential Financial had a net margin of 7.71% and a return on equity of 9.51%. During the same period in the previous year, the firm earned $2.66 earnings per share. research analysts anticipate that Prudential Financial, Inc. will post 10.38 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Monday, November 27th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.60%. The ex-dividend date is Friday, November 24th. Prudential Financial’s payout ratio is 30.18%.
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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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