Prudential Financial Inc (PRU) Holdings Trimmed by Regentatlantic Capital LLC

Regentatlantic Capital LLC lessened its holdings in shares of Prudential Financial Inc (NYSE:PRU) by 9.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,514 shares of the financial services provider’s stock after selling 8,881 shares during the quarter. Regentatlantic Capital LLC’s holdings in Prudential Financial were worth $8,968,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PRU. Washington Trust Bank increased its position 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 buying an additional 3,323 shares during the last quarter. Cerebellum GP LLC acquired a new position in Prudential Financial during the second quarter worth approximately $167,000. New England Research & Management Inc. increased its position 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 buying an additional 900 shares during the last quarter. Clinton Group Inc. acquired a new position in Prudential Financial during the second quarter worth approximately $1,582,000. Finally, IFM Investors Pty Ltd increased its position 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 buying an additional 5,882 shares during the last quarter. 63.56% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have weighed in on PRU. Zacks Investment Research downgraded Prudential Financial from a “buy” rating to a “hold” rating in a research report on Monday, July 16th. B. Riley decreased their target price on Prudential Financial from $129.00 to $116.00 and set a “buy” rating on the stock in a research report on Monday, July 16th. Barclays decreased their target price on Prudential Financial from $135.00 to $130.00 and set an “overweight” rating on the stock in a research report on Monday, July 9th. Credit Suisse Group decreased their target price on Prudential Financial from $102.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, August 17th. Finally, UBS Group upped their target price on Prudential Financial from $125.00 to $126.00 and gave the company a “buy” rating in a research report on Monday, October 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $119.92.

In related news, insider Scott Sleyster sold 23,300 shares of the stock in a transaction that occurred on 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 sale, the insider now owns 57,758 shares of the company’s stock, valued at $5,760,782.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Prudential Financial Inc purchased 880,000 shares of Prudential Financial stock in a transaction that occurred on Tuesday, October 16th. The shares were bought at an average cost of $25.00 per share, for a total transaction of $22,000,000.00. The disclosure for this purchase can be found here. 0.61% of the stock is currently owned by corporate insiders.

Prudential Financial stock opened at $94.16 on Wednesday. Prudential Financial Inc has a 12 month low of $89.33 and a 12 month high of $127.14. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.12 and a current ratio of 0.12. The company has a market capitalization of $37.60 billion, a PE ratio of 8.90, a PEG ratio of 0.83 and a beta of 1.48.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, August 1st. The financial services provider reported $3.01 EPS for the quarter, missing the consensus estimate of $3.08 by ($0.07). Prudential Financial had a net margin of 13.16% and a return on equity of 9.98%. The firm had revenue of $13.04 billion during the quarter, compared to analyst estimates of $14.19 billion. During the same period in the previous year, the company posted $2.09 EPS. On average, analysts anticipate that Prudential Financial Inc will post 12.21 EPS for the current year.

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

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