Prudential Financial, Inc. (PRU) Stake Increased by Bank of New York Mellon Corp
Bank of New York Mellon Corp lifted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 0.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,154,975 shares of the financial services provider’s stock after purchasing an additional 9,320 shares during the quarter. Bank of New York Mellon Corp owned about 1.22% of Prudential Financial worth $548,075,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Fieldpoint Private Securities LLC acquired a new stake in shares of Prudential Financial in the 2nd quarter worth $103,000. Hudock Capital Group LLC boosted 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 worth $123,000 after purchasing an additional 8 shares in the last quarter. Legacy Advisors LLC acquired a new stake in shares of Prudential Financial in the 3rd quarter worth $129,000. Accurate Investment Solutions Inc. boosted 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 worth $180,000 after purchasing an additional 38 shares in the last quarter. Finally, Advisory Services Network LLC boosted 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 worth $184,000 after purchasing an additional 957 shares in the last quarter. 64.48% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Nicholas C. Silitch sold 44,860 shares of Prudential Financial stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $111.77, for a total value of $5,014,002.20. Following the completion of the transaction, the insider now owns 27,927 shares in the company, valued at approximately $3,121,400.79. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Charles F. Lowrey sold 44,630 shares of Prudential Financial stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $111.91, for a total value of $4,994,543.30. Following the completion of the transaction, the executive vice president now owns 79,354 shares of the company’s stock, valued at approximately $8,880,506.14. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.
A number of analysts have recently weighed in on PRU shares. Citigroup Inc. raised Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 price objective for the company in a research report on Tuesday, October 17th. Morgan Stanley lifted their price target on Prudential Financial from $118.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 5th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Prudential Financial in a research report on Thursday, August 3rd. Royal Bank Of Canada reaffirmed a “hold” rating and set a $119.00 price target on shares of Prudential Financial in a research report on Friday, November 3rd. Finally, BidaskClub raised Prudential Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Prudential Financial presently has an average rating of “Buy” and an average target price of $115.13.
Shares of Prudential Financial, Inc. (PRU) traded down $0.88 during mid-day trading on Wednesday, hitting $109.56. The stock had a trading volume of 1,794,500 shares, compared to its average volume of 1,856,361. The firm has a market cap of $46,826.56, a PE ratio of 10.67, a PEG ratio of 1.25 and a beta of 1.56. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.34. Prudential Financial, Inc. has a fifty-two week low of $95.95 and a fifty-two week high of $115.26.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.71 by $0.30. The business had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $12.24 billion. Prudential Financial had a return on equity of 9.51% and a net margin of 7.71%. During the same quarter in the previous year, the firm posted $2.66 EPS. research analysts expect that Prudential Financial, Inc. will post 10.38 EPS for the current year.
The firm 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. This represents a $3.00 annualized dividend and a dividend yield of 2.74%. Prudential Financial’s dividend payout ratio is presently 30.18%.
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Prudential Financial 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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