Prudential Financial Inc (PRU) Stake Decreased by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lessened its holdings in shares of Prudential Financial Inc (NYSE:PRU) by 91.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,147 shares of the financial services provider’s stock after selling 761,041 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Prudential Financial were worth $7,614,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PRU. Washington Trust Bank raised its holdings in Prudential Financial by 4.9% during the second quarter. Washington Trust Bank now owns 71,209 shares of the financial services provider’s stock worth $6,659,000 after purchasing an additional 3,323 shares in the last quarter. Cerebellum GP LLC bought a new stake in Prudential Financial during the second quarter worth approximately $167,000. New England Research & Management Inc. raised its holdings in Prudential Financial by 7.2% during the second quarter. New England Research & Management Inc. now owns 13,370 shares of the financial services provider’s stock worth $1,250,000 after purchasing an additional 900 shares in the last quarter. Clinton Group Inc. bought a new stake in Prudential Financial during the second quarter worth approximately $1,582,000. Finally, IFM Investors Pty Ltd raised its holdings in Prudential Financial by 44.6% during the second quarter. IFM Investors Pty Ltd now owns 19,074 shares of the financial services provider’s stock worth $1,784,000 after purchasing an additional 5,882 shares in the last quarter. 63.56% of the stock is currently owned by institutional investors.

Prudential Financial stock opened at $90.75 on Tuesday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $37.60 billion, a price-to-earnings ratio of 8.58, a price-to-earnings-growth ratio of 0.82 and a beta of 1.48. Prudential Financial Inc has a 1 year low of $89.33 and a 1 year high of $127.14.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, August 1st. The financial services provider reported $3.01 earnings per share for the quarter, missing the consensus estimate of $3.08 by ($0.07). Prudential Financial had a return on equity of 9.98% and a net margin of 13.16%. The firm had revenue of $13.04 billion for the quarter, compared to analysts’ expectations of $14.19 billion. During the same quarter in the previous year, the firm posted $2.09 earnings per share. Sell-side analysts predict that Prudential Financial Inc will post 12.21 earnings per share for the current year.

In related news, major shareholder Prudential Financial Inc purchased 880,000 shares of the stock in a transaction dated Tuesday, October 16th. The shares were acquired at an average cost of $25.00 per share, for a total transaction of $22,000,000.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Scott Sleyster sold 23,300 shares of the business’s stock in a transaction on Friday, September 28th. The shares were sold at an average price of $99.74, for a total transaction of $2,323,942.00. Following the transaction, 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. Over the last 90 days, insiders have sold 23,335 shares of company stock worth $2,326,640. 0.61% of the stock is currently owned by corporate insiders.

Several brokerages recently commented on PRU. Barclays dropped their target price on Prudential Financial from $135.00 to $130.00 and set an “overweight” rating on the stock in a report on Monday, July 9th. Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $111.00 target price on the stock in a report on Monday, August 6th. B. Riley dropped their target price on Prudential Financial from $129.00 to $116.00 and set a “buy” rating on the stock in a report on Monday, July 16th. UBS Group boosted their target price on Prudential Financial from $125.00 to $126.00 and gave the stock a “buy” rating in a report on Monday, October 8th. Finally, ValuEngine raised Prudential Financial from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $119.92.

Prudential Financial Company 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.

Further Reading: Average Daily Trade Volume – What It Means In Stock Trading

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

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