HL Financial Services LLC raised its holdings in Prudential Financial Inc (NYSE:PRU) by 118.5% during the first quarter, Holdings Channel reports. The fund owned 15,637 shares of the financial services provider’s stock after purchasing an additional 8,481 shares during the period. HL Financial Services LLC’s holdings in Prudential Financial were worth $1,437,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. BlackRock Inc. boosted its stake in Prudential Financial by 0.6% in the fourth quarter. BlackRock Inc. now owns 27,744,199 shares of the financial services provider’s stock valued at $2,262,541,000 after acquiring an additional 164,442 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Prudential Financial by 8,297.6% in 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 acquiring an additional 11,790,464 shares during the last quarter. Norges Bank bought a new position in Prudential Financial in the fourth quarter valued at approximately $632,295,000. Northern Trust Corp boosted its stake in Prudential Financial by 6.3% in 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 acquiring an additional 305,259 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Prudential Financial by 6.8% in 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 acquiring an additional 326,075 shares during the last quarter. 65.65% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Stephen Pelletier sold 6,532 shares of the firm’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $94.14, for a total transaction of $614,922.48. The sale was disclosed in a document filed 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 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,538 shares of company stock worth $4,298,777. 0.76% of the stock is currently owned by company insiders.
Shares of NYSE PRU opened at $100.83 on Friday. The firm has a market cap of $42.11 billion, a PE ratio of 8.63, a PEG ratio of 0.89 and a beta of 1.48. Prudential Financial Inc has a twelve month low of $75.61 and a twelve month high of $106.64. The company has a current ratio of 0.11, a quick ratio of 0.14 and a debt-to-equity ratio of 0.33.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $3.00 earnings per share for the quarter, missing analysts’ consensus estimates of $3.14 by ($0.14). Prudential Financial had a return on equity of 9.87% and a net margin of 6.18%. The firm had revenue of $13.65 billion for the quarter, compared to the consensus estimate of $13.74 billion. During the same period in the prior year, the business earned $3.08 earnings per share. As a group, equities analysts anticipate that Prudential Financial Inc will post 12.8 earnings per share for the current fiscal year.
PRU has been the topic of a number of recent analyst reports. UBS Group lifted their price target on shares of Prudential Financial from $114.00 to $116.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. ValuEngine raised shares of Prudential Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $113.00 price target on the stock in a research report on Wednesday. Finally, Deutsche Bank lifted their price target on shares of Prudential Financial from $97.00 to $104.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $112.04.
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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