Daiwa Securities Group Inc. Cuts Stake in Prudential Financial, Inc. (PRU)
Daiwa Securities Group Inc. lowered its holdings in Prudential Financial, Inc. (NYSE:PRU) by 58.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,968 shares of the financial services provider’s stock after selling 18,082 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Prudential Financial were worth $1,379,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in PRU. Fieldpoint Private Securities LLC acquired a new stake in shares of Prudential Financial in the second quarter worth $103,000. Hudock Capital Group LLC increased its stake in shares of Prudential Financial by 0.7% in the second quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock worth $123,000 after acquiring an additional 8 shares during the period. Legacy Advisors LLC acquired a new stake in shares of Prudential Financial in the third quarter worth $129,000. Accurate Investment Solutions Inc. boosted its holdings in Prudential Financial by 2.3% during the second quarter. Accurate Investment Solutions Inc. now owns 1,664 shares of the financial services provider’s stock worth $180,000 after buying an additional 38 shares in the last quarter. Finally, Advisory Services Network LLC boosted its holdings in Prudential Financial by 128.8% during the second quarter. Advisory Services Network LLC now owns 1,700 shares of the financial services provider’s stock worth $184,000 after buying an additional 957 shares in the last quarter. Hedge funds and other institutional investors own 64.87% of the company’s stock.
Shares of Prudential Financial, Inc. (NYSE PRU) opened at $110.72 on Friday. The company has a market cap of $46,945.28, a PE ratio of 10.70, a PEG ratio of 1.25 and a beta of 1.56. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.13 and a quick ratio of 0.13. Prudential Financial, Inc. has a 12-month low of $95.88 and a 12-month high of $115.26.
Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, November 1st. The financial services provider reported $3.01 EPS for the quarter, beating the Zacks’ consensus estimate of $2.71 by $0.30. The business 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 period in the prior year, the business earned $2.66 earnings per share. sell-side analysts anticipate that Prudential Financial, Inc. will post 10.38 EPS for the current fiscal year.
A number of brokerages recently issued reports on PRU. Wells Fargo & Company reissued a “hold” rating on shares of Prudential Financial in a report on Thursday, August 3rd. BidaskClub raised shares of Prudential Financial from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Royal Bank Of Canada reissued a “hold” rating and set a $119.00 price target on shares of Prudential Financial in a report on Friday, November 3rd. B. Riley reissued a “buy” rating on shares of Prudential Financial in a report on Monday, November 6th. Finally, ValuEngine downgraded shares of Prudential Financial from a “strong-buy” rating to a “buy” rating in a report on Friday. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Prudential Financial has an average rating of “Buy” and a consensus price target of $115.13.
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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