Orrstown Financial Services Inc. lowered its stake in shares of Prudential Financial Inc (NYSE:PRU) by 82.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,602 shares of the financial services provider’s stock after selling 7,565 shares during the period. Orrstown Financial Services Inc.’s holdings in Prudential Financial were worth $147,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in PRU. BlackRock Inc. grew its stake in Prudential Financial by 0.6% during the fourth quarter. BlackRock Inc. now owns 27,744,199 shares of the financial services provider’s stock worth $2,262,541,000 after buying an additional 164,442 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Prudential Financial by 8,297.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,932,559 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 11,790,464 shares during the last quarter. Norges Bank bought a new stake in shares of Prudential Financial during the fourth quarter valued at approximately $632,295,000. Northern Trust Corp grew its stake in shares of Prudential Financial by 6.3% during the fourth quarter. Northern Trust Corp now owns 5,154,006 shares of the financial services provider’s stock valued at $420,310,000 after purchasing an additional 305,259 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Prudential Financial by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 5,129,191 shares of the financial services provider’s stock valued at $417,519,000 after purchasing an additional 326,075 shares during the last quarter. 65.55% of the stock is owned by institutional investors and hedge funds.
Shares of PRU stock opened at $103.89 on Friday. Prudential Financial Inc has a 52-week low of $75.61 and a 52-week high of $108.48. The company has a market capitalization of $42.42 billion, a price-to-earnings ratio of 8.89, a price-to-earnings-growth ratio of 0.90 and a beta of 1.43. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.35.
Several research firms have recently commented on PRU. Deutsche Bank increased their price target on shares of Prudential Financial from $97.00 to $104.00 and gave the company a “hold” rating in a research note on Friday, April 12th. UBS Group increased 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. Zacks Investment Research raised shares of Prudential Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, February 12th. Evercore ISI raised shares of Prudential Financial from an “in-line” rating to an “outperform” rating and set a $85.50 price target on the stock in a research note on Wednesday, January 9th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $113.00 price target on shares of Prudential Financial in a research note on Wednesday, January 9th. One equities 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 assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $112.21.
In other Prudential Financial news, EVP Stephen Pelletier sold 6,532 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $94.14, for a total value of $614,922.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Nicholas C. Silitch sold 13,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were 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. Over the last ninety days, insiders sold 45,538 shares of company stock worth $4,298,777. 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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