Prudential Financial Inc (PRU) Stake Lifted by Bray Capital Advisors

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Bray Capital Advisors lifted its position in shares of Prudential Financial Inc (NYSE:PRU) by 5.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,573 shares of the financial services provider’s stock after purchasing an additional 962 shares during the period. Bray Capital Advisors’ holdings in Prudential Financial were worth $1,983,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PRU. Natixis boosted its holdings in shares of Prudential Financial by 6,036.0% during the 2nd quarter. Natixis now owns 845,049 shares of the financial services provider’s stock worth $79,021,000 after buying an additional 831,277 shares during the period. Hexavest Inc. bought a new stake in shares of Prudential Financial during the 2nd quarter worth about $39,045,000. Advisors Asset Management Inc. boosted its holdings in shares of Prudential Financial by 1,360.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 384,553 shares of the financial services provider’s stock worth $2,158,000 after buying an additional 358,225 shares during the period. OppenheimerFunds Inc. boosted its holdings in shares of Prudential Financial by 36.5% during the 2nd quarter. OppenheimerFunds Inc. now owns 1,124,424 shares of the financial services provider’s stock worth $105,145,000 after buying an additional 300,886 shares during the period. Finally, First Trust Advisors LP boosted its holdings in shares of Prudential Financial by 92.0% during the 2nd quarter. First Trust Advisors LP now owns 544,990 shares of the financial services provider’s stock worth $50,962,000 after buying an additional 261,210 shares during the period. Institutional investors own 63.56% of the company’s stock.

NYSE PRU opened at $93.78 on Thursday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $38.55 billion, a price-to-earnings ratio of 8.86, a price-to-earnings-growth ratio of 0.84 and a beta of 1.48. Prudential Financial Inc has a 12-month low of $89.33 and a 12-month high of $127.14.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, August 1st. The financial services provider reported $3.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.08 by ($0.07). The business had revenue of $13.04 billion during the quarter, compared to the consensus estimate of $14.19 billion. Prudential Financial had a net margin of 13.16% and a return on equity of 9.98%. During the same period in the prior year, the firm earned $2.09 EPS. On average, research analysts forecast that Prudential Financial Inc will post 12.21 EPS for the current fiscal year.

PRU has been the subject of several research analyst reports. Goldman Sachs Group raised shares of Prudential Financial from a “buy” rating to a “conviction-buy” rating in a report on Monday, September 10th. B. Riley reduced their target price on shares of Prudential Financial from $129.00 to $116.00 and set a “buy” rating for the company in a report on Monday, July 16th. Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a report on Tuesday, July 17th. Royal Bank of Canada reaffirmed a “buy” rating and set a $122.00 target price on shares of Prudential Financial in a report on Friday, August 3rd. Finally, UBS Group lifted their target price on shares of Prudential Financial from $125.00 to $126.00 and gave the stock a “buy” rating in a report on Monday, October 8th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Prudential Financial currently has a consensus rating of “Buy” and a consensus target price of $119.92.

In other Prudential Financial news, major shareholder Prudential Financial Inc acquired 880,000 shares of the business’s stock in a transaction on Tuesday, October 16th. The stock was purchased at an average price of $25.00 per share, with a total value of $22,000,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Scott Sleyster sold 23,300 shares of the business’s stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $99.74, for a total transaction of $2,323,942.00. Following the completion of the sale, the insider now directly owns 57,758 shares of the company’s stock, valued at approximately $5,760,782.92. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Prudential Financial Company Profile

Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through U.S. Individual Solutions, U.S. Workplace Solutions, Investment Management, and International Insurance divisions.

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

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