Gilbert & Cook Inc. lifted its stake in shares of Prudential Financial Inc (NYSE:PRU) by 4.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,027 shares of the financial services provider’s stock after purchasing an additional 126 shares during the quarter. Gilbert & Cook Inc.’s holdings in Prudential Financial were worth $272,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp acquired a new stake in Prudential Financial in the second quarter valued at approximately $2,669,000. Goelzer Investment Management Inc. raised its stake in Prudential Financial by 0.9% in the second quarter. Goelzer Investment Management Inc. now owns 96,523 shares of the financial services provider’s stock worth $9,749,000 after buying an additional 874 shares in the last quarter. Naples Global Advisors LLC raised its stake in Prudential Financial by 7.1% in the second quarter. Naples Global Advisors LLC now owns 7,364 shares of the financial services provider’s stock worth $744,000 after buying an additional 490 shares in the last quarter. Bernardo Wealth Planning LLC bought a new position in Prudential Financial in the third quarter worth approximately $209,000. Finally, Monument Capital Management raised its stake in Prudential Financial by 2.4% in the second quarter. Monument Capital Management now owns 22,227 shares of the financial services provider’s stock worth $2,268,000 after buying an additional 516 shares in the last quarter. 62.75% of the stock is currently owned by institutional investors.
In related news, EVP Robert Falzon acquired 3,580 shares of Prudential Financial stock in a transaction on Monday, September 9th. The shares were purchased at an average cost of $83.98 per share, for a total transaction of $300,648.40. Following the purchase, the executive vice president now directly owns 64,228 shares of the company’s stock, valued at approximately $5,393,867.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Sleyster sold 12,994 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $90.00, for a total transaction of $1,169,460.00. Following the transaction, the executive vice president now owns 55,746 shares in the company, valued at $5,017,140. The disclosure for this sale can be found here. Insiders have acquired a total of 13,580 shares of company stock worth $1,137,848 over the last quarter. 0.76% of the stock is currently owned by insiders.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Monday, November 4th. The financial services provider reported $3.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.07 by $0.15. Prudential Financial had a net margin of 6.67% and a return on equity of 8.45%. The firm had revenue of $12.93 billion for the quarter, compared to analyst estimates of $14.27 billion. During the same period last year, the business earned $3.15 EPS. As a group, equities research analysts expect that Prudential Financial Inc will post 11.98 EPS for the current year.
Several equities research analysts have recently issued reports on PRU shares. Atlantic Securities lowered shares of Prudential Financial from an “overweight” rating to a “neutral” rating in a research note on Thursday, August 8th. ValuEngine upgraded shares of Prudential Financial from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 25th. Royal Bank of Canada restated a “neutral” rating on shares of Prudential Financial in a report on Friday, October 18th. Wells Fargo & Co lowered shares of Prudential Financial from an “outperform” rating to a “market perform” rating and set a $92.00 price objective on the stock. in a report on Tuesday, November 5th. Finally, Morgan Stanley reduced their price objective on shares of Prudential Financial from $108.00 to $106.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. Prudential Financial has a consensus rating of “Hold” and a consensus 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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