MUFG Americas Holdings Corp Buys 787 Shares of Prudential Financial, Inc. (PRU)
MUFG Americas Holdings Corp boosted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 18.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,117 shares of the financial services provider’s stock after acquiring an additional 787 shares during the quarter. MUFG Americas Holdings Corp’s holdings in Prudential Financial were worth $544,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in PRU. Fieldpoint Private Securities LLC purchased a new stake in shares of Prudential Financial in the second quarter valued at approximately $103,000. Grove Bank & Trust increased its position in shares of Prudential Financial by 507.0% in the third quarter. Grove Bank & Trust now owns 1,129 shares of the financial services provider’s stock valued at $120,000 after buying an additional 943 shares in the last quarter. Hudock Capital Group LLC increased its position 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 valued at $123,000 after buying an additional 8 shares in the last quarter. Legacy Advisors LLC purchased a new stake in shares of Prudential Financial in the third quarter valued at approximately $129,000. Finally, Advisory Services Network LLC increased its position in shares of 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 valued at $184,000 after buying an additional 957 shares in the last quarter. Institutional investors own 64.68% of the company’s stock.
PRU has been the subject of a number of recent analyst reports. Royal Bank Of Canada restated a “hold” rating and issued a $117.00 price objective on shares of Prudential Financial in a research report on Wednesday, September 6th. Zacks Investment Research upgraded Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 price objective for the company in a research report on Tuesday, October 10th. Citigroup upgraded Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 price objective for the company in a research report on Tuesday, October 17th. Morgan Stanley boosted their price objective on Prudential Financial from $118.00 to $123.00 and gave the company an “equal weight” rating in a research report on Thursday, October 5th. Finally, Keefe, Bruyette & Woods restated a “buy” rating on shares of Prudential Financial in a research report on Friday, November 10th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $115.64.
Shares of Prudential Financial, Inc. (PRU) traded down $0.50 during trading hours on Friday, hitting $115.40. The stock had a trading volume of 1,660,000 shares, compared to its average volume of 1,723,989. 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 capitalization of $48,929.60, a price-to-earnings ratio of 11.15, a PEG ratio of 1.31 and a beta of 1.55. Prudential Financial, Inc. has a 12-month low of $97.88 and a 12-month high of $117.59.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share (EPS) for the quarter, topping 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 period in the previous year, the company posted $2.66 earnings per share. analysts forecast that Prudential Financial, Inc. will post 10.38 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Monday, November 27th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Friday, November 24th. Prudential Financial’s dividend payout ratio is presently 30.18%.
In other Prudential Financial news, EVP Timothy P. Harris sold 10,527 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $115.00, for a total transaction of $1,210,605.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Charles F. Lowrey sold 44,630 shares of the business’s stock in a transaction on Wednesday, November 8th. The stock was 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 directly owns 79,354 shares in the company, valued at approximately $8,880,506.14. The disclosure for this sale can be found here. Insiders sold 100,017 shares of company stock worth $11,219,151 over the last ninety days. Corporate insiders own 0.66% of the company’s stock.
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Prudential Financial 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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