IFM Investors Pty Ltd boosted its holdings in Prudential Financial Inc (NYSE:PRU) by 11.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 33,328 shares of the financial services provider’s stock after purchasing an additional 3,475 shares during the quarter. IFM Investors Pty Ltd’s holdings in Prudential Financial were worth $2,117,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of PRU. Public Employees Retirement Association of Colorado lifted its holdings in Prudential Financial by 4.4% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 73,998 shares of the financial services provider’s stock worth $3,858,000 after buying an additional 3,108 shares during the period. Silvercrest Asset Management Group LLC raised its position in shares of Prudential Financial by 364.1% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 10,615 shares of the financial services provider’s stock worth $553,000 after acquiring an additional 8,328 shares in the last quarter. APG Asset Management N.V. raised its position in shares of Prudential Financial by 346.8% in the 1st quarter. APG Asset Management N.V. now owns 217,582 shares of the financial services provider’s stock worth $11,345,000 after acquiring an additional 168,879 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Prudential Financial in the 1st quarter worth approximately $52,000. Finally, Meeder Asset Management Inc. raised its position in shares of Prudential Financial by 24.2% in the 1st quarter. Meeder Asset Management Inc. now owns 62,452 shares of the financial services provider’s stock worth $3,257,000 after acquiring an additional 12,166 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.
NYSE:PRU traded down $0.26 during trading hours on Friday, reaching $66.27. The company’s stock had a trading volume of 1,539,927 shares, compared to its average volume of 3,066,194. The stock has a 50 day moving average price of $66.82 and a two-hundred day moving average price of $62.36. The company has a market capitalization of $26.18 billion, a P/E ratio of -106.89, a price-to-earnings-growth ratio of 0.81 and a beta of 1.69. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial Inc has a 12 month low of $38.62 and a 12 month high of $97.24.
In related news, SVP Timothy L. Schmidt sold 5,334 shares of Prudential Financial stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $69.54, for a total value of $370,926.36. Following the completion of the sale, the senior vice president now owns 27,784 shares in the company, valued at approximately $1,932,099.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is currently owned by company insiders.
Several research analysts have recently issued reports on PRU shares. ValuEngine lowered Prudential Financial from a “sell” rating to a “strong sell” rating in a research report on Monday, August 3rd. Morgan Stanley raised their price objective on Prudential Financial from $72.00 to $74.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 6th. Wells Fargo & Company raised their price objective on Prudential Financial from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, August 6th. Finally, Piper Sandler reduced their price objective on Prudential Financial from $67.00 to $63.00 and set a “neutral” rating for the company in a research report on Thursday, July 2nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $75.10.
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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