Doliver Advisors LP Takes Position in Prudential Financial Inc (NYSE:PRU)

Doliver Advisors LP purchased a new stake in shares of Prudential Financial Inc (NYSE:PRU) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,153 shares of the financial services provider’s stock, valued at approximately $284,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PRU. Nuveen Asset Management LLC increased its position in shares of Prudential Financial by 14,775.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,268,078 shares of the financial services provider’s stock valued at $330,076,000 after purchasing an additional 3,246,108 shares during the last quarter. BlackRock Inc. grew its stake in shares of Prudential Financial by 6.2% during the 2nd quarter. BlackRock Inc. now owns 31,395,669 shares of the financial services provider’s stock valued at $3,170,962,000 after acquiring an additional 1,840,652 shares during the period. Invesco Ltd. grew its stake in shares of Prudential Financial by 72.7% during the 2nd quarter. Invesco Ltd. now owns 3,825,999 shares of the financial services provider’s stock valued at $386,426,000 after acquiring an additional 1,610,600 shares during the period. Vanguard Group Inc. grew its stake in shares of Prudential Financial by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 32,659,263 shares of the financial services provider’s stock valued at $3,298,586,000 after acquiring an additional 324,451 shares during the period. Finally, Railway Pension Investments Ltd grew its stake in shares of Prudential Financial by 185.2% during the 3rd quarter. Railway Pension Investments Ltd now owns 347,147 shares of the financial services provider’s stock valued at $31,225,000 after acquiring an additional 225,419 shares during the period. 62.75% of the stock is owned by hedge funds and other institutional investors.

In other Prudential Financial news, EVP Scott Sleyster sold 12,994 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $90.00, for a total value of $1,169,460.00. Following the completion of the transaction, the executive vice president now directly owns 55,746 shares in the company, valued at approximately $5,017,140. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles F. Lowrey purchased 7,500 shares of the company’s stock in a transaction on Monday, September 9th. The stock was acquired at an average price of $83.68 per share, with a total value of $627,600.00. Following the completion of the purchase, the chief executive officer now directly owns 64,263 shares in the company, valued at $5,377,527.84. The disclosure for this purchase can be found here. Insiders acquired a total of 13,580 shares of company stock valued at $1,137,848 over the last 90 days. 0.76% of the stock is currently owned by corporate insiders.

PRU stock opened at $92.89 on Friday. Prudential Financial Inc has a 1-year low of $75.61 and a 1-year high of $106.39. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.11 and a quick ratio of 0.11. The company has a market capitalization of $37.00 billion, a price-to-earnings ratio of 7.95, a PEG ratio of 0.85 and a beta of 1.57. The business has a 50 day simple moving average of $89.97 and a two-hundred day simple moving average of $93.72.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Monday, November 4th. The financial services provider reported $3.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.07 by $0.15. Prudential Financial had a return on equity of 8.45% and a net margin of 6.67%. The business had revenue of $12.93 billion during the quarter, compared to the consensus estimate of $14.27 billion. During the same period in the prior year, the company posted $3.15 EPS. Sell-side analysts anticipate that Prudential Financial Inc will post 11.98 EPS for the current fiscal year.

A number of research analysts recently issued reports on PRU shares. ValuEngine upgraded Prudential Financial from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 25th. B. Riley downgraded Prudential Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $122.00 to $100.00 in a research note on Thursday, August 1st. Zacks Investment Research upgraded Prudential Financial from a “sell” rating to a “hold” rating and set a $89.00 price objective for the company in a research note on Tuesday, September 10th. Wells Fargo & Co downgraded Prudential Financial from an “outperform” rating to a “market perform” rating and set a $92.00 price objective for the company. in a research note on Tuesday. Finally, Morgan Stanley cut their price objective on Prudential Financial from $108.00 to $106.00 and set an “equal weight” rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. Prudential Financial has a consensus rating of “Hold” and a consensus price target of $96.81.

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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