NBT Bank N A NY reduced its position in Prudential Financial, Inc. (NYSE:PRU) by 11.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,481 shares of the financial services provider’s stock after selling 4,113 shares during the period. NBT Bank N A NY’s holdings in Prudential Financial were worth $3,453,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in PRU. Fieldpoint Private Securities LLC purchased a new position in shares of Prudential Financial in the 2nd quarter valued at approximately $103,000. Hudock Capital Group LLC raised its position in shares of Prudential Financial by 0.7% in the 2nd quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 8 shares during the last quarter. Legacy Advisors LLC purchased a new position in shares of Prudential Financial in the 3rd quarter valued at approximately $129,000. Accurate Investment Solutions Inc. raised its position in shares of Prudential Financial by 2.3% in the 2nd quarter. Accurate Investment Solutions Inc. now owns 1,664 shares of the financial services provider’s stock valued at $180,000 after purchasing an additional 38 shares during the last quarter. Finally, Advisory Services Network LLC raised its position in shares of Prudential Financial by 128.8% in the 2nd quarter. Advisory Services Network LLC now owns 1,700 shares of the financial services provider’s stock valued at $184,000 after purchasing an additional 957 shares during the last quarter. Institutional investors and hedge funds own 64.48% of the company’s stock.
PRU has been the subject of several research analyst reports. BidaskClub raised shares of Prudential Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Prudential Financial in a research report on Friday, August 11th. Citigroup Inc. raised shares of Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 price target for the company in a research report on Tuesday, October 17th. Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 price target for the company in a research report on Tuesday, October 10th. Finally, FBR & Co raised shares of Prudential Financial from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $117.00 to $100.00 in a research report on Tuesday, October 10th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $115.13.
In related 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 value of $5,014,002.20. Following the sale, the insider now owns 27,927 shares of the company’s stock, valued at approximately $3,121,400.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Charles F. Lowrey sold 44,630 shares of Prudential Financial stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $111.91, for a total transaction of $4,994,543.30. Following the completion of the sale, the executive vice president now directly owns 79,354 shares in the company, valued at approximately $8,880,506.14. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.
Shares of Prudential Financial, Inc. (PRU) traded up $0.66 during midday trading on Thursday, hitting $110.22. 2,026,700 shares of the stock were exchanged, compared to its average volume of 1,857,132. The firm has a market cap of $46,453.44, a PE ratio of 10.59, a price-to-earnings-growth ratio of 1.24 and a beta of 1.56. Prudential Financial, Inc. has a twelve month low of $96.71 and a twelve month high of $115.26. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.34.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.01 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.30. Prudential Financial had a net margin of 7.71% and a return on equity of 9.51%. The business had revenue of $13.36 billion for the quarter, compared to analysts’ expectations of $12.24 billion. During the same quarter last year, the company earned $2.66 EPS. equities analysts forecast that Prudential Financial, Inc. will post 10.38 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Monday, November 27th will be paid a $0.75 dividend. The ex-dividend date is Friday, November 24th. This represents a $3.00 dividend on an annualized basis and a yield of 2.72%. Prudential Financial’s dividend payout ratio is currently 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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