Commerce Bank Purchases 3,059 Shares of Prudential Financial, Inc. (PRU)
Commerce Bank lifted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 32.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,511 shares of the financial services provider’s stock after acquiring an additional 3,059 shares during the quarter. Commerce Bank’s holdings in Prudential Financial were worth $1,331,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in PRU. Cambridge Investment Research Advisors Inc. increased its holdings in Prudential Financial by 25.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 21,649 shares of the financial services provider’s stock valued at $2,341,000 after purchasing an additional 4,372 shares during the last quarter. Douglas Lane & Associates LLC increased its holdings in shares of Prudential Financial by 3.1% in the third quarter. Douglas Lane & Associates LLC now owns 647,412 shares of the financial services provider’s stock worth $68,833,000 after acquiring an additional 19,238 shares in the last quarter. Seizert Capital Partners LLC increased its holdings in shares of Prudential Financial by 2.2% in the second quarter. Seizert Capital Partners LLC now owns 114,414 shares of the financial services provider’s stock worth $12,373,000 after acquiring an additional 2,421 shares in the last quarter. APG Asset Management N.V. increased its holdings in shares of Prudential Financial by 171.8% in the third quarter. APG Asset Management N.V. now owns 2,704,719 shares of the financial services provider’s stock worth $287,566,000 after acquiring an additional 1,709,699 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of Prudential Financial by 8.3% in the second quarter. Pacer Advisors Inc. now owns 9,822 shares of the financial services provider’s stock worth $1,062,000 after acquiring an additional 754 shares in the last quarter. Institutional investors own 64.07% of the company’s stock.
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In other news, insider Nicholas C. Silitch sold 44,860 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $111.77, for a total transaction of $5,014,002.20. Following the transaction, the insider now owns 27,927 shares in the company, valued at $3,121,400.79. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Charles F. Lowrey sold 44,630 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $111.91, for a total value of $4,994,543.30. Following the transaction, the executive vice president now owns 79,354 shares in the company, valued at approximately $8,880,506.14. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.
Several brokerages have issued reports on PRU. BidaskClub upgraded Prudential Financial from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Keefe, Bruyette & Woods restated a “buy” rating on shares of Prudential Financial in a report on Friday, August 11th. B. Riley restated a “buy” rating on shares of Prudential Financial in a report on Monday, November 6th. Wells Fargo & Company restated a “hold” rating on shares of Prudential Financial in a report on Thursday, August 3rd. Finally, Zacks Investment Research upgraded Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 price target for the company in a report on Tuesday, October 10th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $115.64.
Shares of Prudential Financial, Inc. (NYSE:PRU) opened at $110.25 on Monday. Prudential Financial, Inc. has a 52-week low of $97.88 and a 52-week high of $115.26. The stock has a market capitalization of $47,450.00, a P/E ratio of 10.65, a PEG ratio of 1.25 and a beta of 1.56. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.13 and a quick ratio of 0.13.
Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.71 by $0.30. Prudential Financial had a return on equity of 9.51% and a net margin of 7.71%. The company had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $12.24 billion. During the same period last year, the firm posted $2.66 earnings per share. sell-side analysts anticipate that Prudential Financial, Inc. will post 10.38 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Monday, November 27th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, November 24th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.72%. Prudential Financial’s payout ratio is 30.24%.
Prudential Financial Company 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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