Wright Investors Service Inc. Sells 1,423 Shares of Prudential Financial, Inc. (PRU)

Wright Investors Service Inc. lowered its holdings in Prudential Financial, Inc. (NYSE:PRU) by 20.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,417 shares of the financial services provider’s stock after selling 1,423 shares during the quarter. Wright Investors Service Inc.’s holdings in Prudential Financial were worth $576,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of Prudential Financial by 2.9% in the 2nd quarter. BlackRock Inc. now owns 33,155,309 shares of the financial services provider’s stock valued at $3,585,415,000 after purchasing an additional 934,352 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Prudential Financial by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 30,885,285 shares of the financial services provider’s stock valued at $3,339,935,000 after purchasing an additional 612,799 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Prudential Financial by 1.2% in the 2nd quarter. Capital Research Global Investors now owns 13,662,673 shares of the financial services provider’s stock valued at $1,477,481,000 after purchasing an additional 162,833 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Prudential Financial by 9.4% in the 1st quarter. Geode Capital Management LLC now owns 4,297,520 shares of the financial services provider’s stock valued at $457,822,000 after purchasing an additional 368,321 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Prudential Financial by 11.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,157,881 shares of the financial services provider’s stock valued at $449,637,000 after purchasing an additional 442,168 shares in the last quarter. Institutional investors and hedge funds own 64.88% of the company’s stock.

In other Prudential Financial news, insider Nicholas C. Silitch sold 14,897 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $110.00, for a total transaction of $1,638,670.00. Following the sale, the insider now owns 21,274 shares of the company’s stock, valued at $2,340,140. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Stephen Pelletier sold 4,133 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $112.18, for a total transaction of $463,639.94. Following the sale, the insider now directly owns 10,924 shares in the company, valued at approximately $1,225,454.32. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Several equities research analysts have recently commented on PRU shares. Royal Bank Of Canada restated a “hold” rating and issued a $117.00 price target on shares of Prudential Financial in a report on Wednesday, September 6th. Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 price target for the company in a report on Tuesday, October 10th. Citigroup Inc. upgraded shares of Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 price target for the company in a report on Tuesday, October 17th. BidaskClub upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, Morgan Stanley boosted their price target on shares of Prudential Financial from $118.00 to $123.00 and gave the company an “equal weight” rating in a report on Thursday, October 5th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $114.56.

Prudential Financial, Inc. (PRU) traded up 0.24% during mid-day trading on Wednesday, reaching $110.73. 632,816 shares of the company’s stock traded hands. The stock has a market capitalization of $47.28 billion, a PE ratio of 12.36 and a beta of 1.51. The stock’s 50 day moving average is $107.76 and its 200-day moving average is $107.14. Prudential Financial, Inc. has a 52 week low of $83.20 and a 52 week high of $115.26.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $2.09 earnings per share for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.61). Prudential Financial had a return on equity of 8.98% and a net margin of 7.15%. The company had revenue of $13.03 billion for the quarter, compared to analyst estimates of $12.45 billion. During the same period in the previous year, the business posted $1.84 EPS. On average, equities analysts anticipate that Prudential Financial, Inc. will post $10.13 EPS for the current year.

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About Prudential Financial

Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.

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

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