Ameriprise Financial Inc. Sells 1,180,073 Shares of Prudential Financial, Inc. (PRU)
Ameriprise Financial Inc. decreased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 28.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,977,808 shares of the financial services provider’s stock after selling 1,180,073 shares during the quarter. Ameriprise Financial Inc. owned 0.70% of Prudential Financial worth $316,610,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in PRU. Fieldpoint Private Securities LLC acquired a new position in shares of Prudential Financial in the 2nd quarter valued at $103,000. Hudock Capital Group LLC raised its stake in shares of Prudential Financial by 0.7% in the 2nd quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock valued at $123,000 after buying an additional 8 shares in the last quarter. Legacy Advisors LLC acquired a new position in shares of Prudential Financial in the 3rd quarter valued at $129,000. Accurate Investment Solutions Inc. raised its stake in shares of Prudential Financial by 2.3% in the 2nd 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. Finally, Advisory Services Network LLC raised its stake in shares of Prudential Financial by 128.8% in the 2nd quarter. Advisory Services Network LLC now owns 1,700 shares of the financial services provider’s stock valued at $184,000 after buying an additional 957 shares in the last quarter. Institutional investors own 64.07% of the company’s stock.
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In other news, EVP Charles F. Lowrey sold 44,630 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $111.91, for a total value of $4,994,543.30. Following the transaction, the executive vice president now owns 79,354 shares of the company’s stock, valued at approximately $8,880,506.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas C. Silitch sold 44,860 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $111.77, for a total transaction of $5,014,002.20. Following the completion of the transaction, the insider now directly owns 27,927 shares in the company, valued at approximately $3,121,400.79. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.
PRU has been the subject of a number of recent research reports. BidaskClub upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Wells Fargo & Company restated a “hold” rating on shares of Prudential Financial in a research note on Thursday, August 3rd. Keefe, Bruyette & Woods restated a “buy” rating on shares of Prudential Financial in a research note on Friday, August 11th. Royal Bank Of Canada restated a “hold” rating and issued a $117.00 price objective on shares of Prudential Financial in a research note on Wednesday, September 6th. Finally, Morgan Stanley increased their target price on shares of Prudential Financial from $118.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 5th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $115.64.
Shares of Prudential Financial, Inc. (NYSE PRU) opened at $109.70 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a market cap of $47,060.00, a PE ratio of 10.63, a price-to-earnings-growth ratio of 1.25 and a beta of 1.56. Prudential Financial, Inc. has a 1 year low of $97.88 and a 1 year high of $115.26.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.30. The firm had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $12.24 billion. Prudential Financial had a net margin of 7.71% and a return on equity of 9.51%. During the same quarter last year, the company posted $2.66 EPS. equities research analysts forecast that Prudential Financial, Inc. will post 10.38 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Monday, November 27th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.73%. The ex-dividend date is Friday, November 24th. Prudential Financial’s payout ratio is presently 30.24%.
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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