Global Financial Private Capital LLC decreased its position in shares of Prudential Financial Inc (NYSE:PRU) by 6.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 29,762 shares of the financial services provider’s stock after selling 2,073 shares during the period. Global Financial Private Capital LLC’s holdings in Prudential Financial were worth $3,015,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC purchased a new position in shares of Prudential Financial during the 2nd quarter valued at $104,000. Sun Life Financial INC lifted its stake in shares of Prudential Financial by 470.9% during the 2nd quarter. Sun Life Financial INC now owns 1,136 shares of the financial services provider’s stock valued at $106,000 after buying an additional 937 shares in the last quarter. Vigilant Capital Management LLC purchased a new position in shares of Prudential Financial during the 2nd quarter valued at $125,000. Financial Architects Inc lifted its stake in shares of Prudential Financial by 303.9% during the 2nd quarter. Financial Architects Inc now owns 1,640 shares of the financial services provider’s stock valued at $153,000 after buying an additional 1,234 shares in the last quarter. Finally, Centaurus Financial Inc. purchased a new position in shares of Prudential Financial during the 2nd quarter valued at $157,000. Institutional investors own 63.15% of the company’s stock.
In other Prudential Financial news, major shareholder Prudential Financial Inc bought 880,000 shares of Prudential Financial stock in a transaction dated Tuesday, October 16th. The shares were purchased at an average cost of $25.00 per share, for a total transaction of $22,000,000.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Scott Sleyster sold 23,300 shares of the business’s stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $99.74, for a total transaction of $2,323,942.00. Following the completion of the sale, the insider now owns 57,758 shares in the company, valued at $5,760,782.92. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, November 7th. The financial services provider reported $3.15 EPS for the quarter, missing the consensus estimate of $3.16 by ($0.01). The company had revenue of $14.43 billion during the quarter, compared to analysts’ expectations of $13.51 billion. Prudential Financial had a return on equity of 9.97% and a net margin of 12.59%. During the same quarter in the previous year, the firm earned $3.01 EPS. As a group, equities analysts expect that Prudential Financial Inc will post 12.21 earnings per share for the current fiscal year.
Several analysts have commented on the stock. Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a research note on Monday, August 6th. B. Riley decreased their price target on shares of Prudential Financial from $129.00 to $116.00 and set a “buy” rating on the stock in a research note on Monday, July 16th. UBS Group boosted their price target on shares of Prudential Financial from $125.00 to $126.00 and gave the stock a “buy” rating in a research note on Monday, October 8th. ValuEngine upgraded shares of Prudential Financial from a “strong sell” rating to a “sell” rating in a research note on Tuesday, September 4th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $122.00 price target on shares of Prudential Financial in a research note on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $119.31.
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Prudential Financial Profile
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through U.S. Individual Solutions, U.S. Workplace Solutions, Investment Management, and International Insurance divisions.
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