Wedge Capital Management L L P NC decreased its position in Prudential Financial Inc (NYSE:PRU) by 0.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 324,910 shares of the financial services provider’s stock after selling 3,017 shares during the period. Wedge Capital Management L L P NC’s holdings in Prudential Financial were worth $30,457,000 as of its most recent filing with the SEC.
Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Prudential Financial by 1.0% in the second quarter. Vanguard Group Inc. now owns 32,659,263 shares of the financial services provider’s stock valued at $3,298,586,000 after acquiring an additional 324,451 shares during the last quarter. BlackRock Inc. boosted its position in Prudential Financial by 6.2% during the second quarter. BlackRock Inc. now owns 31,395,669 shares of the financial services provider’s stock valued at $3,170,962,000 after purchasing an additional 1,840,652 shares during the last quarter. Nippon Life Insurance Co. grew its stake in Prudential Financial by 72.0% in the third quarter. Nippon Life Insurance Co. now owns 4,401,995 shares of the financial services provider’s stock valued at $395,959,000 after purchasing an additional 1,841,995 shares in the last quarter. Invesco Ltd. grew its stake in Prudential Financial by 72.7% in the second quarter. Invesco Ltd. now owns 3,825,999 shares of the financial services provider’s stock valued at $386,426,000 after purchasing an additional 1,610,600 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of Prudential Financial by 14,775.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,268,078 shares of the financial services provider’s stock worth $330,076,000 after purchasing an additional 3,246,108 shares during the last quarter. 62.20% of the stock is owned by hedge funds and other institutional investors.
PRU opened at $94.32 on Thursday. Prudential Financial Inc has a 12-month low of $77.65 and a 12-month high of $106.39. The stock has a market cap of $38.16 billion, a price-to-earnings ratio of 8.07, a PEG ratio of 0.85 and a beta of 1.59. The business has a 50 day moving average of $93.66 and a 200-day moving average of $91.68. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.29.
A number of equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods cut Prudential Financial from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $107.00 to $102.00 in a research note on Wednesday, November 6th. Credit Suisse Group decreased their target price on shares of Prudential Financial from $98.00 to $90.00 and set a “neutral” rating for the company in a research note on Monday, September 30th. Wells Fargo & Co downgraded shares of Prudential Financial from an “outperform” rating to a “market perform” rating and set a $92.00 target price on the stock. in a report on Tuesday, November 5th. ValuEngine raised shares of Prudential Financial from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 25th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $110.00 price target on shares of Prudential Financial in a research report on Sunday, December 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $97.75.
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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