Commerzbank Aktiengesellschaft FI increased its stake in Prudential Financial Inc. (NYSE:PRU) by 0.6% during the second quarter, Holdings Channel reports. The fund owned 59,237 shares of the company’s stock after buying an additional 345 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Prudential Financial were worth $4,226,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in PRU. Hexavest Inc. acquired a new position in Prudential Financial during the second quarter valued at approximately $54,008,000. Bank of Montreal Can acquired a new position in Prudential Financial during the second quarter valued at approximately $39,301,000. Panagora Asset Management Inc. raised its position in Prudential Financial by 1,637.1% in the first quarter. Panagora Asset Management Inc. now owns 581,941 shares of the company’s stock valued at $42,028,000 after buying an additional 548,441 shares during the last quarter. Mount Lucas Management LP acquired a new position in Prudential Financial during the first quarter valued at approximately $11,726,000. Finally, Artemis Investment Management LLP raised its position in Prudential Financial by 242.9% in the second quarter. Artemis Investment Management LLP now owns 195,800 shares of the company’s stock valued at $13,965,000 after buying an additional 138,700 shares during the last quarter. Institutional investors and hedge funds own 60.58% of the company’s stock.
Prudential Financial Inc. (NYSE:PRU) traded down 0.32% during midday trading on Friday, reaching $84.50. The company’s stock had a trading volume of 2,462,350 shares. Prudential Financial Inc. has a 1-year low of $57.19 and a 1-year high of $88.77. The firm has a market capitalization of $36.93 billion, a PE ratio of 8.68 and a beta of 1.68. The firm has a 50 day moving average price of $82.27 and a 200 day moving average price of $77.45.
Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, August 3rd. The company reported $1.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.51 by $0.67. Prudential Financial had a return on equity of 8.11% and a net margin of 8.90%. During the same period last year, the business earned $2.91 earnings per share. On average, analysts predict that Prudential Financial Inc. will post $8.81 EPS for the current year.
Several research firms recently commented on PRU. Evercore ISI began coverage on shares of Prudential Financial in a report on Wednesday, July 6th. They issued a “hold” rating and a $78.00 price target on the stock. Zacks Investment Research upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a report on Thursday, July 14th. Citigroup Inc. cut their price target on shares of Prudential Financial from $83.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, July 7th. Goldman Sachs Group Inc. upgraded shares of Prudential Financial from a “neutral” rating to a “buy” rating and raised their price target for the company from $80.00 to $93.00 in a report on Friday, September 23rd. Finally, FBR & Co lowered shares of Prudential Financial from an “outperform” rating to a “market perform” rating and set a $86.00 price target on the stock. in a report on Tuesday, October 18th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $89.13.
In other Prudential Financial news, CFO Robert Falzon sold 33,820 shares of Prudential Financial stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $77.13, for a total value of $2,608,536.60. Following the transaction, the chief financial officer now directly owns 70,264 shares of the company’s stock, valued at approximately $5,419,462.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Scott Sleyster sold 9,379 shares of Prudential Financial stock in a transaction that occurred on Friday, October 14th. The stock was sold at an average price of $85.06, for a total value of $797,777.74. Following the completion of the transaction, the insider now directly owns 34,185 shares in the company, valued at $2,907,776.10. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.
Prudential Financial Company Profile
Prudential Financial, Inc is a financial services company. The Company, through its subsidiaries and affiliates, provides a range of financial products and services, including life insurance, annuities and investment management. The Company’s divisions include U.S. Retirement Solutions and Investment Management Division; U.S.