NEXT Financial Group Inc boosted its stake in Prudential Financial, Inc. (NYSE:PRU) by 556.9% during the second quarter, Holdings Channel reports. The institutional investor owned 3,232 shares of the financial services provider’s stock after buying an additional 2,740 shares during the period. NEXT Financial Group Inc’s holdings in Prudential Financial were worth $350,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Osborn Williams & Donohoe LLC increased its position in shares of Prudential Financial by 0.5% in the first quarter. Osborn Williams & Donohoe LLC now owns 21,187 shares of the financial services provider’s stock valued at $2,260,000 after buying an additional 99 shares in the last quarter. Trust Co purchased a new position in shares of Prudential Financial during the fourth quarter valued at $209,000. CENTRAL TRUST Co increased its position in shares of Prudential Financial by 4.1% in the first quarter. CENTRAL TRUST Co now owns 5,399 shares of the financial services provider’s stock valued at $576,000 after buying an additional 211 shares in the last quarter. Chevy Chase Trust Holdings Inc. increased its position in shares of Prudential Financial by 3.0% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 371,282 shares of the financial services provider’s stock valued at $39,608,000 after buying an additional 10,770 shares in the last quarter. Finally, Beacon Financial Group increased its position in shares of Prudential Financial by 10.1% in the first quarter. Beacon Financial Group now owns 10,379 shares of the financial services provider’s stock valued at $1,113,000 after buying an additional 950 shares in the last quarter. 63.17% of the stock is owned by institutional investors.
Shares of Prudential Financial, Inc. (NYSE PRU) opened at 111.74 on Friday. Prudential Financial, Inc. has a 12 month low of $72.25 and a 12 month high of $114.55. The stock’s 50 day moving average is $108.06 and its 200 day moving average is $107.41. The stock has a market capitalization of $47.94 billion, a PE ratio of 11.34 and a beta of 1.49.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.15. The firm had revenue of $13.24 billion for the quarter, compared to analyst estimates of $12.75 billion. Prudential Financial had a net margin of 7.78% and a return on equity of 8.52%. During the same period in the previous year, the business posted $2.18 earnings per share. Analysts anticipate that Prudential Financial, Inc. will post $10.67 earnings per share for the current fiscal year.
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Several brokerages recently weighed in on PRU. BidaskClub downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Wednesday. Wells Fargo & Company reissued a “hold” rating on shares of Prudential Financial in a report on Thursday, May 4th. Zacks Investment Research downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Credit Suisse Group reissued a “hold” rating and set a $121.00 price objective on shares of Prudential Financial in a report on Thursday, April 27th. Finally, ValuEngine raised shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Ten analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $111.21.
In other Prudential Financial news, insider Charles F. Lowrey sold 222,857 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $108.04, for a total value of $24,077,470.28. Following the transaction, the insider now directly owns 151,418 shares in the company, valued at approximately $16,359,200.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $110.00, for a total transaction of $22,174,350.00. Following the completion of the transaction, the chairman now owns 456,121 shares in the company, valued at $50,173,310. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.
Prudential Financial Company Profile
Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.
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