CIBC Asset Management Inc boosted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,072 shares of the financial services provider’s stock after buying an additional 39 shares during the period. CIBC Asset Management Inc’s holdings in Prudential Financial were worth $4,550,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the stock. Adirondack Trust Co. increased its position in shares of Prudential Financial by 7.6% in the first quarter. Adirondack Trust Co. now owns 1,133 shares of the financial services provider’s stock valued at $121,000 after buying an additional 80 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Prudential Financial by 11.1% in the first quarter. Quadrant Capital Group LLC now owns 1,376 shares of the financial services provider’s stock valued at $139,000 after buying an additional 137 shares in the last quarter. First Personal Financial Services increased its position in shares of Prudential Financial by 3.4% in the first quarter. First Personal Financial Services now owns 1,407 shares of the financial services provider’s stock valued at $150,000 after buying an additional 46 shares in the last quarter. Guardian Life Insurance Co. of America increased its position in shares of Prudential Financial by 0.3% in the first quarter. Guardian Life Insurance Co. of America now owns 1,658 shares of the financial services provider’s stock valued at $177,000 after buying an additional 5 shares in the last quarter. Finally, Accurate Investment Solutions Inc. increased its position in shares of Prudential Financial by 2.3% in the second quarter. Accurate Investment Solutions Inc. now owns 1,664 shares of the financial services provider’s stock valued at $180,000 after buying an additional 38 shares in the last quarter. 63.54% of the stock is currently owned by institutional investors and hedge funds.
Shares of Prudential Financial, Inc. (NYSE:PRU) opened at 112.49 on Friday. The company has a market cap of $48.37 billion, a PE ratio of 12.32 and a beta of 1.50. The company has a 50-day moving average of $109.66 and a 200 day moving average of $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 announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share for the quarter, missing analysts’ consensus estimates of $2.70 by $0.61. The firm had revenue of $13.03 billion during the quarter, compared to analysts’ expectations of $12.45 billion. Prudential Financial had a net margin of 7.15% and a return on equity of 8.98%. During the same quarter in the previous year, the business posted $1.84 EPS. On average, analysts anticipate that Prudential Financial, Inc. will post $10.41 earnings per share for the current year.
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Several equities analysts have weighed in on PRU shares. BidaskClub raised shares of Prudential Financial from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Deutsche Bank AG lifted their price target on shares of Prudential Financial from $114.00 to $117.00 and gave the company a “buy” rating in a report on Wednesday, April 19th. Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 price target on the stock in a report on Tuesday, April 18th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Prudential Financial in a report on Thursday, May 4th. Finally, Credit Suisse Group reaffirmed a “hold” rating and set a $121.00 price target on shares of Prudential Financial in a report on Thursday, April 27th. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Prudential Financial has an average rating of “Buy” and an average target price 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 stock was sold at an average price of $110.00, for a total value of $22,174,350.00. Following the transaction, the chairman now owns 456,121 shares in the company, valued at approximately $50,173,310. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charles F. Lowrey sold 222,857 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider now owns 151,418 shares in the company, valued at approximately $16,359,200.72. The disclosure for this sale can be found here. Company 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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