Cullen Frost Bankers Inc. Has $134,000 Stake in Prudential Financial Inc (NYSE:PRU)

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Cullen Frost Bankers Inc. increased its position in Prudential Financial Inc (NYSE:PRU) by 53.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,489 shares of the financial services provider’s stock after purchasing an additional 521 shares during the period. Cullen Frost Bankers Inc.’s holdings in Prudential Financial were worth $134,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Coastal Capital Group Inc. purchased a new stake in Prudential Financial in the 2nd quarter worth approximately $25,000. WealthStone Inc. bought a new position in shares of Prudential Financial during the 2nd quarter valued at $25,000. Candriam Luxembourg S.C.A. raised its holdings in shares of Prudential Financial by 1.4% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 241,941 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 3,264 shares in the last quarter. Ibex Wealth Advisors bought a new position in shares of Prudential Financial during the 2nd quarter valued at $26,000. Finally, Virtus ETF Advisers LLC bought a new position in shares of Prudential Financial during the 2nd quarter valued at $26,000. 62.75% of the stock is owned by hedge funds and other institutional investors.

PRU has been the topic of a number of recent research reports. Keefe, Bruyette & Woods downgraded shares of Prudential Financial from an “outperform” rating to a “market perform” rating and cut their price target for the company from $107.00 to $102.00 in a report on Wednesday. Morgan Stanley cut their price target on shares of Prudential Financial from $108.00 to $106.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Wells Fargo & Co downgraded shares of Prudential Financial from an “outperform” rating to a “market perform” rating and set a $92.00 price target on the stock. in a report on Tuesday, November 5th. B. Riley downgraded shares of Prudential Financial from a “buy” rating to a “neutral” rating and cut their price target for the company from $122.00 to $100.00 in a report on Thursday, August 1st. Finally, ValuEngine upgraded shares of Prudential Financial from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $96.81.

In other news, CFO Kenneth Tanji bought 2,500 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were purchased at an average price of $83.84 per share, for a total transaction of $209,600.00. Following the acquisition, the chief financial officer now directly owns 19,285 shares of the company’s stock, valued at approximately $1,616,854.40. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Charles F. Lowrey bought 7,500 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was purchased at an average price of $83.68 per share, for a total transaction of $627,600.00. Following the acquisition, the chief executive officer now directly owns 64,263 shares in the company, valued at $5,377,527.84. The disclosure for this purchase can be found here. Insiders purchased a total of 13,580 shares of company stock worth $1,137,848 in the last quarter. Insiders own 0.76% of the company’s stock.

Prudential Financial stock opened at $92.89 on Friday. The company has a market capitalization of $37.00 billion, a P/E ratio of 7.95, a P/E/G ratio of 0.85 and a beta of 1.57. The firm’s fifty day simple moving average is $89.97 and its 200-day simple moving average is $93.72. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.29. Prudential Financial Inc has a 1-year low of $75.61 and a 1-year high of $106.39.

Prudential Financial (NYSE:PRU) last announced its earnings results on Monday, November 4th. The financial services provider reported $3.22 EPS for the quarter, topping the consensus estimate of $3.07 by $0.15. The firm had revenue of $12.93 billion for the quarter, compared to the consensus estimate of $14.27 billion. Prudential Financial had a net margin of 6.67% and a return on equity of 8.45%. During the same quarter last year, the firm posted $3.15 EPS. On average, equities research analysts predict that Prudential Financial Inc will post 11.98 earnings per share for the current year.

Prudential Financial 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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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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