Pictet Asset Management Ltd. Reduces Stake in Prudential Financial, Inc. (PRU)
Pictet Asset Management Ltd. lessened its position in Prudential Financial, Inc. (NYSE:PRU) by 16.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 285,625 shares of the financial services provider’s stock after selling 54,637 shares during the period. Pictet Asset Management Ltd. owned approximately 0.07% of Prudential Financial worth $30,368,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of PRU. Fieldpoint Private Securities LLC acquired a new stake in shares of Prudential Financial during the second quarter worth $103,000. Hudock Capital Group LLC raised its position in shares of Prudential Financial by 0.7% during 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 during the period. Accurate Investment Solutions Inc. raised its position in shares of 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 purchasing an additional 38 shares during the period. Advisory Services Network LLC raised its position in shares of 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 purchasing an additional 957 shares during the period. Finally, Trust Co. of Vermont raised its position in shares of Prudential Financial by 28.5% during the second quarter. Trust Co. of Vermont now owns 1,711 shares of the financial services provider’s stock worth $185,000 after purchasing an additional 380 shares during the period. 64.88% of the stock is currently owned by institutional investors.
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Prudential Financial, Inc. (NYSE PRU) opened at $111.84 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.16 and a quick ratio of 0.13. The company has a market cap of $48.23 billion, a P/E ratio of 10.91, a PEG ratio of 1.30 and a beta of 1.56.
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 analysts’ consensus estimates of $2.71 by $0.30. Prudential Financial had a return on equity of 9.20% and a net margin of 7.71%. The firm had revenue of $13.36 billion for the quarter, compared to the consensus estimate of $12.24 billion. During the same quarter in the previous year, the company posted $2.66 earnings per share. sell-side analysts forecast that Prudential Financial, Inc. will post 10.25 earnings per share for the current fiscal year.
PRU has been the topic of a number of recent analyst reports. Citigroup Inc raised Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 target price on the stock in a research report on Tuesday, October 17th. Morgan Stanley boosted their target price on Prudential Financial from $118.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 5th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Prudential Financial in a research report on Thursday, August 3rd. BidaskClub raised Prudential Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $117.00 price target on shares of Prudential Financial in a research report on Wednesday, September 6th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Prudential Financial currently has a consensus rating of “Buy” and a consensus target price of $114.64.
In other Prudential Financial news, insider Nicholas C. Silitch sold 14,897 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $110.00, for a total value of $1,638,670.00. Following the transaction, the insider now owns 21,274 shares in the company, valued at $2,340,140. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Pelletier sold 4,133 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $112.18, for a total value of $463,639.94. Following the completion of the transaction, the insider now owns 10,924 shares in the company, valued at approximately $1,225,454.32. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.
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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