Meeder Asset Management Inc. decreased its holdings in shares of Prudential Financial Inc (NYSE:PRU) by 40.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,864 shares of the financial services provider’s stock after selling 7,250 shares during the period. Meeder Asset Management Inc.’s holdings in Prudential Financial were worth $998,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in PRU. Old North State Trust LLC increased its stake in Prudential Financial by 46.5% during the fourth quarter. Old North State Trust LLC now owns 438 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 139 shares during the last quarter. Semmax Financial Advisors Inc. acquired a new position in shares of Prudential Financial during the fourth quarter valued at $35,000. Baldwin Brothers Inc. MA boosted its holdings in shares of Prudential Financial by 146.7% during the fourth quarter. Baldwin Brothers Inc. MA now owns 454 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 270 shares during the period. Somerset Trust Co boosted its holdings in shares of Prudential Financial by 276.4% during the first quarter. Somerset Trust Co now owns 414 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 304 shares during the period. Finally, PRW Wealth Management LLC acquired a new position in shares of Prudential Financial during the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 65.60% of the company’s stock.
In related news, insider Stephen Pelletier sold 26,006 shares of the company’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $94.04, for a total value of $2,445,604.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicholas C. Silitch sold 13,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $95.25, for a total transaction of $1,238,250.00. The disclosure for this sale can be found here. Insiders sold 45,538 shares of company stock valued at $4,298,777 in the last ninety days. Corporate insiders own 0.76% of the company’s stock.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, February 6th. The financial services provider reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.88 by ($0.44). The company had revenue of $17.78 billion during the quarter, compared to analyst estimates of $14.03 billion. Prudential Financial had a return on equity of 10.20% and a net margin of 7.01%. During the same period in the previous year, the company earned $2.69 EPS. On average, analysts anticipate that Prudential Financial Inc will post 12.7 EPS for the current fiscal year.
Several brokerages have recently issued reports on PRU. Deutsche Bank boosted their price target on shares of Prudential Financial from $97.00 to $104.00 and gave the company a “hold” rating in a report on Friday, April 12th. UBS Group boosted their price target on shares of Prudential Financial from $108.00 to $114.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Zacks Investment Research downgraded shares of Prudential Financial from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. Wells Fargo & Co began coverage on shares of Prudential Financial in a report on Tuesday, January 8th. They set an “outperform” rating and a $105.00 price target for the company. Finally, Evercore ISI raised shares of Prudential Financial from an “in-line” rating to an “outperform” rating and set a $85.50 price target for the company in a report on Wednesday, January 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $112.21.
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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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