Murphy Middleton Hinkle & Parker Inc. Acquires New Holdings in Prudential Financial Inc (PRU)

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Murphy Middleton Hinkle & Parker Inc. acquired a new position in Prudential Financial Inc (NYSE:PRU) during the 1st quarter, HoldingsChannel reports. The firm acquired 2,363 shares of the financial services provider’s stock, valued at approximately $217,000.

Several other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp increased its stake in Prudential Financial by 0.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,365,815 shares of the financial services provider’s stock worth $341,024,000 after buying an additional 13,097 shares during the period. Standard Life Aberdeen plc grew its position in shares of Prudential Financial by 3.2% in the 3rd quarter. Standard Life Aberdeen plc now owns 344,066 shares of the financial services provider’s stock valued at $34,862,000 after buying an additional 10,764 shares during the last quarter. First Republic Investment Management Inc. grew its position in shares of Prudential Financial by 3.2% in the 3rd quarter. First Republic Investment Management Inc. now owns 17,692 shares of the financial services provider’s stock valued at $1,792,000 after buying an additional 542 shares during the last quarter. LPL Financial LLC grew its position in shares of Prudential Financial by 11.1% in the 3rd quarter. LPL Financial LLC now owns 63,165 shares of the financial services provider’s stock valued at $6,400,000 after buying an additional 6,293 shares during the last quarter. Finally, Man Group plc grew its position in shares of Prudential Financial by 305.5% in the 3rd quarter. Man Group plc now owns 190,784 shares of the financial services provider’s stock valued at $19,330,000 after buying an additional 143,739 shares during the last quarter. Hedge funds and other institutional investors own 65.60% of the company’s stock.

A number of research analysts recently commented on PRU shares. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $113.00 target price on shares of Prudential Financial in a research report on Wednesday, January 9th. UBS Group increased their target price on shares of Prudential Financial from $108.00 to $114.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Zacks Investment Research raised shares of Prudential Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, February 12th. Deutsche Bank increased their target price 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. Finally, 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 report on Wednesday, January 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $112.21.

NYSE:PRU traded down $0.08 during trading hours on Wednesday, reaching $103.95. 71,852 shares of the company’s stock were exchanged, compared to its average volume of 2,035,022. The stock has a market cap of $42.88 billion, a P/E ratio of 8.92, a P/E/G ratio of 0.89 and a beta of 1.43. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.14 and a quick ratio of 0.14. Prudential Financial Inc has a 1-year low of $75.61 and a 1-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 the Zacks’ consensus estimate of $2.88 by ($0.44). The business had revenue of $17.78 billion for the quarter, compared to analyst estimates of $14.03 billion. Prudential Financial had a return on equity of 10.20% and a net margin of 7.01%. During the same quarter in the prior year, the company earned $2.69 EPS. Sell-side analysts expect that Prudential Financial Inc will post 12.7 EPS for the current fiscal year.

In related news, insider Nicholas C. Silitch sold 13,000 shares of the stock in a transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen Pelletier sold 26,006 shares of the stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $94.04, for a total transaction of $2,445,604.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,538 shares of company stock valued at $4,298,777. 0.76% of the stock is owned by company insiders.

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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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