Harvey Capital Management Inc. Sells 250 Shares of Prudential Financial Inc (NYSE:PRU)

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Harvey Capital Management Inc. decreased its holdings in Prudential Financial Inc (NYSE:PRU) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,100 shares of the financial services provider’s stock after selling 250 shares during the quarter. Harvey Capital Management Inc.’s holdings in Prudential Financial were worth $1,538,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Atlantic Union Bankshares Corp bought a new position in shares of Prudential Financial during the 2nd quarter valued at approximately $2,669,000. Goelzer Investment Management Inc. boosted its holdings in Prudential Financial by 0.9% in the 2nd 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 during the period. Naples Global Advisors LLC boosted its holdings in Prudential Financial by 7.1% in the 2nd 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 during the period. Monument Capital Management boosted its holdings in Prudential Financial by 2.4% in the 2nd 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 during the period. Finally, Coastal Capital Group Inc. bought a new position in Prudential Financial in the 2nd quarter worth approximately $25,000. 63.22% of the stock is currently owned by institutional investors.

Several research analysts have commented on the stock. Atlantic Securities downgraded shares of Prudential Financial from an “overweight” rating to a “neutral” rating in a report on Thursday, August 8th. Credit Suisse Group reissued an “outperform” rating on shares of Prudential Financial in a report on Thursday. B. Riley downgraded shares of Prudential Financial from a “buy” rating to a “neutral” rating and cut their price target for the company from $122.00 to $100.00 in a report on Thursday, August 1st. Citigroup cut their price target on shares of Prudential Financial from $94.00 to $88.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Finally, Wells Fargo & Co set a $115.00 price target on shares of Prudential Financial and gave the company a “buy” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $98.71.

In other Prudential Financial news, CEO Charles F. Lowrey bought 7,500 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were bought at an average price of $83.68 per share, for a total transaction of $627,600.00. Following the transaction, the chief executive officer now directly owns 64,263 shares in the company, valued at $5,377,527.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Sleyster sold 12,994 shares of Prudential Financial stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $90.00, for a total transaction of $1,169,460.00. Following the completion of the transaction, the executive vice president now owns 55,746 shares in the company, valued at approximately $5,017,140. The disclosure for this sale can be found here. In the last quarter, insiders purchased 13,580 shares of company stock worth $1,137,848. 0.76% of the stock is owned by corporate insiders.

Shares of Prudential Financial stock traded up $0.67 on Friday, hitting $89.89. 472,721 shares of the company traded hands, compared to its average volume of 2,077,739. The firm’s 50-day simple moving average is $86.58 and its 200 day simple moving average is $94.54. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.29. The company has a market cap of $36.16 billion, a P/E ratio of 7.69, a P/E/G ratio of 0.81 and a beta of 1.57. Prudential Financial Inc has a 12-month low of $75.61 and a 12-month high of $106.39.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $3.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.22 by ($0.08). The company had revenue of $14.11 billion for the quarter, compared to analysts’ expectations of $13.63 billion. Prudential Financial had a net margin of 6.92% and a return on equity of 9.24%. During the same quarter last year, the business posted $3.01 EPS. Analysts predict that Prudential Financial Inc will post 12.34 earnings per share for the current year.

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

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