Private Trust Co. NA lifted its position in Prudential Financial Inc (NYSE:PRU) by 15.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,233 shares of the financial services provider’s stock after acquiring an additional 570 shares during the period. Private Trust Co. NA’s holdings in Prudential Financial were worth $388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. OMERS ADMINISTRATION Corp acquired a new stake in Prudential Financial during the 4th quarter worth about $767,000. Belpointe Asset Management LLC boosted its stake in shares of Prudential Financial by 34.0% during the 4th quarter. Belpointe Asset Management LLC now owns 3,175 shares of the financial services provider’s stock worth $259,000 after acquiring an additional 806 shares in the last quarter. Norges Bank purchased a new stake in shares of Prudential Financial during the 4th quarter worth about $632,295,000. Actinver Wealth Management Inc. purchased a new stake in shares of Prudential Financial during the 4th quarter worth about $612,000. Finally, Aspire Private Capital LLC purchased a new stake in shares of Prudential Financial during the 4th quarter worth about $84,000. 65.55% of the stock is currently owned by hedge funds and other institutional investors.
PRU has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reissued a “buy” rating and set a $113.00 target price on shares of Prudential Financial in a research note on Wednesday, January 9th. Evercore ISI raised shares of Prudential Financial from an “in-line” rating to an “outperform” rating and set a $85.50 target price on the stock in a research note on Wednesday, January 9th. Zacks Investment Research lowered shares of Prudential Financial from a “hold” rating to a “sell” rating in a research note on Friday, February 1st. Wells Fargo & Co started coverage on shares of Prudential Financial in a research note on Tuesday, January 8th. They set an “outperform” rating and a $105.00 target price on the stock. Finally, UBS Group raised their price target on shares of Prudential Financial from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Prudential Financial currently has a consensus rating of “Buy” and a consensus price target of $112.21.
Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, February 6th. The financial services provider reported $2.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.88 by ($0.44). Prudential Financial had a return on equity of 10.20% and a net margin of 7.01%. The business had revenue of $17.78 billion during the quarter, compared to analysts’ expectations of $14.03 billion. During the same period last year, the business earned $2.69 earnings per share. On average, sell-side analysts predict that Prudential Financial Inc will post 12.78 EPS for the current fiscal year.
In other Prudential Financial news, insider Stephen Pelletier sold 26,006 shares of the firm’s stock in a transaction that occurred on 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 document filed with the SEC, which can be accessed through the SEC website. Also, insider Nicholas C. Silitch sold 13,000 shares of the firm’s stock in a transaction that occurred on 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 a total of 45,538 shares of company stock worth $4,298,777 over the last three months. Corporate insiders own 0.76% of the company’s stock.
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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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