Fiduciary Trust Co. Grows Position in Prudential Financial, Inc. (PRU)
Fiduciary Trust Co. increased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 49.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,227 shares of the financial services provider’s stock after acquiring an additional 15,896 shares during the quarter. Fiduciary Trust Co.’s holdings in Prudential Financial were worth $5,127,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Fieldpoint Private Securities LLC purchased a new stake in Prudential Financial in the second quarter worth about $103,000. Hudock Capital Group LLC raised its holdings in 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 purchasing an additional 8 shares in the last quarter. Legacy Advisors LLC bought a new position in Prudential Financial in the third quarter worth about $129,000. Accurate Investment Solutions Inc. raised its holdings in 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 worth $180,000 after purchasing an additional 38 shares in the last quarter. Finally, Advisory Services Network LLC raised its holdings in Prudential Financial by 128.8% in the second quarter. Advisory Services Network LLC now owns 1,700 shares of the financial services provider’s stock worth $184,000 after purchasing an additional 957 shares in the last quarter. 64.87% of the stock is owned by institutional investors.
Shares of Prudential Financial, Inc. (NYSE PRU) traded up $0.24 during midday trading on Thursday, reaching $112.68. The company had a trading volume of 104,726 shares, compared to its average volume of 1,548,478. The stock has a market capitalization of $47,462.56, a price-to-earnings ratio of 10.81, a P/E/G ratio of 1.27 and a beta of 1.56. Prudential Financial, Inc. has a 52-week low of $87.39 and a 52-week high of $115.26. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.34.
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 firm had revenue of $13.36 billion for the quarter, compared to analyst estimates of $12.24 billion. Prudential Financial had a return on equity of 9.51% and a net margin of 7.71%. During the same quarter in the prior year, the firm earned $2.66 earnings per share. sell-side analysts anticipate that Prudential Financial, Inc. will post 10.38 earnings per share for the current year.
A number of brokerages have commented on PRU. Wells Fargo & Company reiterated a “hold” rating on shares of Prudential Financial in a report on Thursday, August 3rd. BidaskClub upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Royal Bank Of Canada reiterated a “hold” rating and issued a $119.00 target price on shares of Prudential Financial in a report on Friday, November 3rd. B. Riley reiterated a “buy” rating on shares of Prudential Financial in a report on Monday. Finally, Morgan Stanley boosted their target price on shares of Prudential Financial from $123.00 to $124.00 and gave the stock an “equal weight” rating in a report on Thursday, November 2nd. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus 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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