Prudential Financial Inc (PRU) Holdings Cut by Capital Investment Advisors LLC

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Capital Investment Advisors LLC decreased its holdings in shares of Prudential Financial Inc (NYSE:PRU) by 20.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,514 shares of the financial services provider’s stock after selling 628 shares during the period. Capital Investment Advisors LLC’s holdings in Prudential Financial were worth $231,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in shares of Prudential Financial by 0.6% in the 4th quarter. BlackRock Inc. now owns 27,744,199 shares of the financial services provider’s stock worth $2,262,541,000 after acquiring an additional 164,442 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in shares of Prudential Financial by 8,297.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,932,559 shares of the financial services provider’s stock worth $146,000 after acquiring an additional 11,790,464 shares during the period. Norges Bank acquired a new stake in shares of Prudential Financial in the 4th quarter worth approximately $632,295,000. Northern Trust Corp grew its holdings in shares of Prudential Financial by 6.3% in the 4th quarter. Northern Trust Corp now owns 5,154,006 shares of the financial services provider’s stock worth $420,310,000 after acquiring an additional 305,259 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Prudential Financial by 6.8% in the 4th quarter. Geode Capital Management LLC now owns 5,129,191 shares of the financial services provider’s stock worth $417,519,000 after acquiring an additional 326,075 shares during the period. Institutional investors own 65.57% of the company’s stock.

In other Prudential Financial news, insider Nicholas C. Silitch sold 13,000 shares of the stock in a transaction 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Stephen Pelletier sold 6,532 shares of the stock in a transaction on Friday, February 15th. The stock was sold at an average price of $94.14, for a total value of $614,922.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,538 shares of company stock worth $4,298,777. Corporate insiders own 0.76% of the company’s stock.

A number of equities research analysts recently weighed in on the company. Deutsche Bank upped their price target on Prudential Financial from $97.00 to $104.00 and gave the stock a “hold” rating in a report on Friday. UBS Group increased their target price on Prudential Financial from $108.00 to $114.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $115.00 target price on shares of Prudential Financial in a report on Monday, December 17th. Zacks Investment Research cut Prudential Financial from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. Finally, Wells Fargo & Co assumed coverage on Prudential Financial in a report on Tuesday, January 8th. They set an “outperform” rating and a $105.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $112.21.

Shares of NYSE:PRU opened at $101.34 on Tuesday. The firm has a market cap of $41.43 billion, a price-to-earnings ratio of 8.67, a P/E/G ratio of 0.87 and a beta of 1.43. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.14 and a current ratio of 0.14. Prudential Financial Inc has a one year low of $75.61 and a one year high of $108.92.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, February 6th. The financial services provider reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $14.03 billion. During the same period in the prior year, the company earned $2.69 EPS. As a group, equities research analysts forecast that Prudential Financial Inc will post 12.67 earnings per share for the current year.

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Prudential Financial Company 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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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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