Murphy Middleton Hinkle & Parker Inc. Acquires Shares of 2,363 Prudential Financial Inc (PRU)
Murphy Middleton Hinkle & Parker Inc. acquired a new stake in shares of Prudential Financial Inc (NYSE:PRU) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,363 shares of the financial services provider’s stock, valued at approximately $217,000.
A number of other hedge funds have also modified their holdings of PRU. Oregon Public Employees Retirement Fund increased its holdings in Prudential Financial by 8,297.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,932,559 shares of the financial services provider’s stock valued at $146,000 after buying an additional 11,790,464 shares during the period. Norges Bank purchased a new position in Prudential Financial during the fourth quarter valued at approximately $632,295,000. Bessemer Group Inc. increased its holdings in Prudential Financial by 15,678.7% during the fourth quarter. Bessemer Group Inc. now owns 1,143,482 shares of the financial services provider’s stock valued at $93,251,000 after buying an additional 1,136,235 shares during the period. TIAA CREF Investment Management LLC increased its holdings in Prudential Financial by 31.9% during the third quarter. TIAA CREF Investment Management LLC now owns 3,468,515 shares of the financial services provider’s stock valued at $351,430,000 after buying an additional 839,309 shares during the period. Finally, Teachers Advisors LLC increased its holdings in Prudential Financial by 52.5% during the third quarter. Teachers Advisors LLC now owns 1,453,338 shares of the financial services provider’s stock valued at $147,252,000 after buying an additional 500,185 shares during the period. 65.60% of the stock is currently owned by institutional investors.
In other Prudential Financial news, EVP Stephen Pelletier sold 6,532 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $94.14, for a total value of $614,922.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas C. Silitch sold 13,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $95.25, for a total transaction of $1,238,250.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,538 shares of company stock valued at $4,298,777. 0.76% of the stock is owned by insiders.
Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, February 6th. The financial services provider reported $2.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.88 by ($0.44). The firm had revenue of $17.78 billion during the quarter, compared to analyst estimates of $14.03 billion. Prudential Financial had a net margin of 7.01% and a return on equity of 10.20%. During the same quarter last year, the business earned $2.69 earnings per share. On average, sell-side analysts expect that Prudential Financial Inc will post 12.7 EPS for the current year.
Several equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods reissued a “buy” rating and set a $113.00 price objective on shares of Prudential Financial in a report on Wednesday, January 9th. Zacks Investment Research lowered shares of Prudential Financial from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. Wells Fargo & Co assumed coverage on shares of Prudential Financial in a report on Tuesday, January 8th. They set an “outperform” rating and a $105.00 price objective on the stock. Evercore ISI raised shares of Prudential Financial from an “in-line” rating to an “outperform” rating and set a $85.50 price objective on the stock in a report on Wednesday, January 9th. Finally, Deutsche Bank lifted their price objective on shares of Prudential Financial from $97.00 to $104.00 and gave the company a “hold” rating in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned 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 $112.21.
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Prudential Financial Profile
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.
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