Creative Planning boosted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 53.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,504 shares of the financial services provider’s stock after buying an additional 7,112 shares during the period. Creative Planning’s holdings in Prudential Financial were worth $2,217,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. BKD Wealth Advisors LLC raised its stake in shares of Prudential Financial by 51.4% in the first quarter. BKD Wealth Advisors LLC now owns 4,030 shares of the financial services provider’s stock worth $430,000 after buying an additional 1,369 shares during the last quarter. Osborn Williams & Donohoe LLC raised its stake 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 worth $2,260,000 after buying an additional 99 shares during the last quarter. Financial Counselors Inc. raised its stake in shares of Prudential Financial by 3.4% in the first quarter. Financial Counselors Inc. now owns 72,807 shares of the financial services provider’s stock worth $7,767,000 after buying an additional 2,365 shares during the last quarter. Westpac Banking Corp raised its stake in shares of Prudential Financial by 103.7% in the first quarter. Westpac Banking Corp now owns 54,100 shares of the financial services provider’s stock worth $5,100,000 after buying an additional 27,536 shares during the last quarter. Finally, BLB&B Advisors LLC raised its stake in shares of Prudential Financial by 7.3% in the first quarter. BLB&B Advisors LLC now owns 2,192 shares of the financial services provider’s stock worth $234,000 after buying an additional 150 shares during the last quarter. 63.54% of the stock is currently owned by institutional investors.
Shares of Prudential Financial, Inc. (NYSE:PRU) traded down 2.19% during trading on Thursday, hitting $112.71. 882,702 shares of the company were exchanged. The stock has a market cap of $48.35 billion, a P/E ratio of 11.44 and a beta of 1.50. The company’s 50-day moving average price is $109.66 and its 200 day moving average price is $107.87. Prudential Financial, Inc. has a 12 month low of $72.25 and a 12 month high of $114.55.
Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.70 by $0.61. Prudential Financial had a return on equity of 8.52% and a net margin of 7.78%. The firm had revenue of $13.03 billion for the quarter, compared to analysts’ expectations of $12.45 billion. During the same period last year, the firm earned $1.84 EPS. On average, equities analysts predict that Prudential Financial, Inc. will post $10.67 earnings per share for the current fiscal year.
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A number of analysts have issued reports on PRU shares. Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 target price on the stock in a research report on Tuesday, April 18th. Credit Suisse Group reissued a “hold” rating and issued a $121.00 target price on shares of Prudential Financial in a research report on Thursday, April 27th. ValuEngine raised Prudential Financial from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. BidaskClub lowered Prudential Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $113.00 price objective on shares of Prudential Financial in a research report on Tuesday, June 27th. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $111.21.
In other Prudential Financial news, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the firm’s stock in a transaction on 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 directly owns 456,121 shares of the company’s stock, valued at approximately $50,173,310. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Charles F. Lowrey sold 222,857 shares of the firm’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $108.04, for a total transaction of $24,077,470.28. Following the transaction, the insider now directly owns 151,418 shares of the company’s stock, valued at $16,359,200.72. 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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