FineMark National Bank & Trust increased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 17.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,634 shares of the financial services provider’s stock after buying an additional 4,953 shares during the period. FineMark National Bank & Trust’s holdings in Prudential Financial were worth $3,637,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Prudential Financial by 3,296.9% in the first quarter. BlackRock Inc. now owns 32,220,957 shares of the financial services provider’s stock worth $3,437,330,000 after buying an additional 31,272,429 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Prudential Financial by 3.3% in the first quarter. Vanguard Group Inc. now owns 30,272,486 shares of the financial services provider’s stock worth $3,229,469,000 after buying an additional 968,500 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Prudential Financial by 9.4% in the first quarter. Geode Capital Management LLC now owns 4,297,520 shares of the financial services provider’s stock worth $457,822,000 after buying an additional 368,321 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Prudential Financial by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,998,472 shares of the financial services provider’s stock worth $319,880,000 after buying an additional 81,327 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of Prudential Financial by 1.7% in the first quarter. Legal & General Group Plc now owns 2,247,784 shares of the financial services provider’s stock worth $239,794,000 after buying an additional 38,540 shares in the last quarter. Institutional investors own 63.54% of the company’s stock.
Prudential Financial, Inc. (NYSE:PRU) opened at 113.23 on Tuesday. The stock has a 50 day moving average price of $109.49 and a 200-day moving average price of $107.81. Prudential Financial, Inc. has a 12-month low of $72.25 and a 12-month high of $114.55. The stock has a market capitalization of $48.58 billion, a PE ratio of 11.49 and a beta of 1.49.
Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, May 3rd. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.64 by $0.15. Prudential Financial had a return on equity of 8.52% and a net margin of 7.78%. The firm had revenue of $13.24 billion for the quarter, compared to analysts’ expectations of $12.75 billion. During the same period in the previous year, the firm posted $2.18 earnings per share. On average, equities analysts anticipate that Prudential Financial, Inc. will post $10.67 earnings per share for the current fiscal year.
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A number of equities analysts have weighed in on the company. Deutsche Bank AG upped their target price on Prudential Financial from $114.00 to $117.00 and gave the stock a “buy” rating in a research note on Wednesday, April 19th. Zacks Investment Research lowered Prudential Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. BidaskClub upgraded Prudential Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. J P Morgan Chase & Co upped their target price on Prudential Financial from $108.00 to $113.00 and gave the stock an “overweight” rating in a research note on Monday, April 3rd. Finally, Wells Fargo & Company restated a “hold” rating on shares of Prudential Financial in a research note on Tuesday, June 6th. Ten investment 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 currently has a consensus rating of “Buy” and an average price target of $111.21.
In other news, insider Charles F. Lowrey sold 222,857 shares of Prudential Financial stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $108.04, for a total value of $24,077,470.28. Following the sale, the insider now directly owns 151,418 shares of the company’s stock, valued at $16,359,200.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman John R. Strangfeld, Jr. sold 201,585 shares of Prudential Financial stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $110.00, for a total value of $22,174,350.00. Following the completion of the sale, the chairman now directly 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.
About Prudential Financial
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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