First Business Financial Services Inc. acquired a new position in shares of Prudential Financial Inc (NYSE:PRU) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,810 shares of the financial services provider’s stock, valued at approximately $253,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Coastal Capital Group Inc. acquired a new stake in Prudential Financial during the 2nd quarter worth about $25,000. WealthStone Inc. acquired a new stake in Prudential Financial during the 2nd quarter worth about $25,000. Candriam Luxembourg S.C.A. boosted its position in Prudential Financial by 1.4% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 241,941 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 3,264 shares during the period. Ibex Wealth Advisors acquired a new stake in Prudential Financial during the 2nd quarter worth about $26,000. Finally, Virtus ETF Advisers LLC acquired a new stake in Prudential Financial during the 2nd quarter worth about $26,000. Hedge funds and other institutional investors own 62.75% of the company’s stock.
Shares of Prudential Financial stock traded up $1.05 during trading on Friday, hitting $92.89. 3,666,291 shares of the stock traded hands, compared to its average volume of 2,111,428. The stock has a market cap of $37.00 billion, a P/E ratio of 7.95, a PEG ratio of 0.85 and a beta of 1.57. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.11 and a current ratio of 0.11. Prudential Financial Inc has a twelve month low of $75.61 and a twelve month high of $106.39. The company has a fifty day moving average price of $89.97 and a two-hundred day moving average price of $93.72.
In related news, EVP Scott Sleyster sold 12,994 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $90.00, for a total value of $1,169,460.00. Following the transaction, the executive vice president now directly owns 55,746 shares of the company’s stock, valued at approximately $5,017,140. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles F. Lowrey acquired 7,500 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was bought at an average cost of $83.68 per share, for a total transaction of $627,600.00. Following the completion of the purchase, the chief executive officer now directly owns 64,263 shares in the company, valued at approximately $5,377,527.84. The disclosure for this purchase can be found here. Insiders purchased a total of 13,580 shares of company stock worth $1,137,848 over the last three months. 0.76% of the stock is owned by company insiders.
A number of equities research analysts have commented on PRU shares. Credit Suisse Group restated an “outperform” rating on shares of Prudential Financial in a research report on Thursday, October 17th. Wells Fargo & Co lowered Prudential Financial from an “outperform” rating to a “market perform” rating and set a $92.00 price target for the company. in a report on Tuesday, November 5th. ValuEngine upgraded Prudential Financial from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 25th. Morgan Stanley reduced their price target on Prudential Financial from $108.00 to $106.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Finally, UBS Group lifted their price target on Prudential Financial from $84.00 to $85.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $96.81.
About Prudential Financial
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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