Shares of Prudential Financial Inc (NYSE:PRU) traded down 5.1% during mid-day trading on Monday . The stock traded as low as $95.79 and last traded at $96.14. 2,996,702 shares were traded during mid-day trading, an increase of 40% from the average session volume of 2,139,237 shares. The stock had previously closed at $101.27.
Several analysts recently issued reports on the company. UBS Group downgraded Prudential Financial from a “buy” rating to a “neutral” rating and cut their price target for the stock from $116.00 to $112.00 in a report on Monday. Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $113.00 price target on the stock in a report on Wednesday, May 8th. ValuEngine raised Prudential Financial from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, Deutsche Bank raised their price target on Prudential Financial from $97.00 to $104.00 and gave the stock a “hold” rating in a report on Friday, April 12th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $111.71.
The firm has a market capitalization of $40.94 billion, a PE ratio of 8.22, a P/E/G ratio of 0.87 and a beta of 1.48. The company has a quick ratio of 0.14, a current ratio of 0.11 and a debt-to-equity ratio of 0.33.
In other Prudential Financial news, insider Nicholas C. Silitch sold 13,000 shares of Prudential Financial stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $95.25, for a total transaction of $1,238,250.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Stephen Pelletier sold 6,532 shares of Prudential Financial stock in a transaction on Friday, February 15th. The shares were sold at an average price of $94.14, for a total value of $614,922.48. The disclosure for this sale can be found here. Insiders have sold a total of 45,538 shares of company stock worth $4,298,777 in the last ninety days. 0.76% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in PRU. Oregon Public Employees Retirement Fund raised its stake in Prudential Financial by 8,297.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,932,559 shares of the financial services provider’s stock valued at $146,000 after acquiring an additional 11,790,464 shares in the last quarter. Norges Bank bought a new stake in Prudential Financial during the 4th quarter valued at $632,295,000. BlackRock Inc. raised its stake in Prudential Financial by 6.5% during the 1st quarter. BlackRock Inc. now owns 29,555,017 shares of the financial services provider’s stock valued at $2,715,518,000 after acquiring an additional 1,810,818 shares in the last quarter. Bessemer Group Inc. raised its stake in Prudential Financial by 15,678.7% during the 4th quarter. Bessemer Group Inc. now owns 1,143,482 shares of the financial services provider’s stock valued at $93,251,000 after acquiring an additional 1,136,235 shares in the last quarter. Finally, Alps Advisors Inc. raised its stake in Prudential Financial by 2,198.0% during the 4th quarter. Alps Advisors Inc. now owns 475,874 shares of the financial services provider’s stock valued at $38,808,000 after acquiring an additional 455,166 shares in the last quarter. 65.65% of the stock is currently owned by hedge funds and other institutional investors.
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Prudential Financial Company Profile (NYSE:PRU)
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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