Westpac Banking Corp reduced its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,302 shares of the financial services provider’s stock after selling 961 shares during the period. Westpac Banking Corp’s holdings in Prudential Financial were worth $3,753,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PRU. E&G Advisors LP raised its stake in shares of Prudential Financial by 20.0% in the third quarter. E&G Advisors LP now owns 4,800 shares of the financial services provider’s stock worth $510,000 after acquiring an additional 800 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Prudential Financial by 35.7% in the third quarter. Victory Capital Management Inc. now owns 88,236 shares of the financial services provider’s stock worth $9,381,000 after acquiring an additional 23,200 shares during the last quarter. OLD National Bancorp IN raised its stake in shares of Prudential Financial by 10.4% in the third quarter. OLD National Bancorp IN now owns 6,946 shares of the financial services provider’s stock worth $738,000 after acquiring an additional 654 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of Prudential Financial in the third quarter worth about $5,018,000. Finally, FinTrust Investment Advisory Services LLC bought a new position in shares of Prudential Financial in the third quarter worth about $235,000. 64.87% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial, Inc. (PRU) opened at $111.84 on Monday. The firm has a market cap of $47,420.16, a P/E ratio of 10.81, a PEG ratio of 1.28 and a beta of 1.56. Prudential Financial, Inc. has a 1-year low of $85.36 and a 1-year high of $115.26. The company has a quick ratio of 0.13, a current ratio of 0.16 and a debt-to-equity ratio of 0.33.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.71 by $0.30. The company 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 9.20%. During the same quarter in the prior year, the company earned $2.66 earnings per share. sell-side analysts expect that Prudential Financial, Inc. will post 10.29 EPS for the current fiscal year.

In other news, insider Nicholas C. Silitch sold 14,897 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $110.00, for a total value of $1,638,670.00. Following the completion of the transaction, the insider now owns 21,274 shares in the company, valued at $2,340,140. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.66% of the stock is owned by corporate insiders.

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A number of brokerages have weighed in on PRU. BidaskClub raised shares of Prudential Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Prudential Financial in a research note on Friday, August 11th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Prudential Financial in a research note on Thursday, August 3rd. Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 target price for the company in a research note on Tuesday, October 10th. Finally, FBR & Co raised shares of Prudential Financial from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $117.00 to $100.00 in a research note on Tuesday, October 10th. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $114.78.

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.

Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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