Summit Financial Wealth Advisors LLC increased its holdings in shares of Prudential Financial Inc (NYSE:PRU) by 29.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 42,430 shares of the financial services provider’s stock after acquiring an additional 9,754 shares during the period. Prudential Financial comprises about 1.0% of Summit Financial Wealth Advisors LLC’s investment portfolio, making the stock its 26th biggest position. Summit Financial Wealth Advisors LLC’s holdings in Prudential Financial were worth $4,285,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of PRU. Joseph P. Lucia & Associates LLC acquired a new stake in shares of Prudential Financial during the 1st quarter valued at about $25,000. Berman Capital Advisors LLC boosted its position in Prudential Financial by 68.0% in the first quarter. Berman Capital Advisors LLC now owns 346 shares of the financial services provider’s stock valued at $31,000 after buying an additional 140 shares in the last quarter. Advisory Alpha LLC acquired a new position in Prudential Financial in the first quarter valued at about $32,000. Somerset Trust Co boosted its position in Prudential Financial by 276.4% in the first quarter. Somerset Trust Co now owns 414 shares of the financial services provider’s stock valued at $38,000 after buying an additional 304 shares in the last quarter. Finally, Rational Advisors LLC boosted its position in Prudential Financial by 469.6% in the first quarter. Rational Advisors LLC now owns 450 shares of the financial services provider’s stock valued at $41,000 after buying an additional 371 shares in the last quarter. Institutional investors and hedge funds own 63.04% of the company’s stock.
A number of equities analysts have commented on PRU shares. UBS Group lowered shares of Prudential Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $116.00 to $112.00 in a research report on Monday, May 13th. Citigroup set a $112.00 price target on shares of Prudential Financial and gave the company a “buy” rating in a research report on Thursday, May 23rd. 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 research report on Friday, April 12th. ValuEngine upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, Wells Fargo & Co restated a “buy” rating and issued a $115.00 price target on shares of Prudential Financial in a research report on Thursday, June 6th. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Prudential Financial has a consensus rating of “Buy” and an average price target of $108.59.
Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $3.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.22 by ($0.08). Prudential Financial had a return on equity of 9.87% and a net margin of 6.18%. The company had revenue of $14.11 billion during the quarter, compared to the consensus estimate of $13.63 billion. During the same period in the prior year, the firm posted $3.01 earnings per share. As a group, equities analysts expect that Prudential Financial Inc will post 12.68 EPS for the current year.
About Prudential Financial
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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