AI Financial Services LLC lowered its stake in shares of Prudential Financial Inc (NYSE:PRU) by 17.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,875 shares of the financial services provider’s stock after selling 4,834 shares during the period. Prudential Financial comprises 5.8% of AI Financial Services LLC’s portfolio, making the stock its 6th largest holding. AI Financial Services LLC’s holdings in Prudential Financial were worth $2,318,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Flagship Harbor Advisors LLC acquired a new position in Prudential Financial during the second quarter worth about $104,000. Sun Life Financial INC raised its position in Prudential Financial by 470.9% during the second quarter. Sun Life Financial INC now owns 1,136 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 937 shares during the last quarter. Vigilant Capital Management LLC acquired a new position in Prudential Financial during the second quarter worth about $125,000. Financial Architects Inc raised its position in Prudential Financial by 303.9% during the second quarter. Financial Architects Inc now owns 1,640 shares of the financial services provider’s stock worth $153,000 after acquiring an additional 1,234 shares during the last quarter. Finally, Centaurus Financial Inc. acquired a new position in Prudential Financial during the second quarter worth about $157,000. 63.15% of the stock is currently owned by hedge funds and other institutional investors.
In other news, major shareholder Prudential Financial Inc acquired 880,000 shares of the business’s stock in a transaction dated Tuesday, October 16th. The stock was acquired at an average price of $25.00 per share, with a total value of $22,000,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott Sleyster sold 23,300 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 57,758 shares of the company’s stock, valued at approximately $5,760,782.92. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, November 7th. The financial services provider reported $3.15 earnings per share for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.01). The firm had revenue of $14.43 billion during the quarter, compared to analyst estimates of $13.51 billion. Prudential Financial had a net margin of 13.16% and a return on equity of 9.98%. During the same period in the prior year, the firm earned $3.01 EPS. Research analysts anticipate that Prudential Financial Inc will post 12.21 earnings per share for the current fiscal year.
A number of brokerages have issued reports on PRU. Morgan Stanley cut their target price on shares of Prudential Financial from $122.00 to $120.00 and set an “equal weight” rating for the company in a research report on Thursday. Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 target price for the company in a research report on Monday, October 8th. UBS Group lifted their target price on shares of Prudential Financial from $125.00 to $126.00 and gave the stock a “buy” rating in a research report on Monday, October 8th. Goldman Sachs Group upgraded shares of Prudential Financial from a “buy” rating to a “conviction-buy” rating in a research report on Monday, September 10th. Finally, ValuEngine upgraded shares of Prudential Financial from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $119.31.
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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