Cambridge Investment Research Advisors Inc. Reduces Stake in Prudential Financial, Inc. (PRU)

Cambridge Investment Research Advisors Inc. reduced its position in Prudential Financial, Inc. (NYSE:PRU) by 6.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,213 shares of the financial services provider’s stock after selling 1,436 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Prudential Financial were worth $2,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in the stock. Signature Estate & Investment Advisors LLC raised its holdings in Prudential Financial by 15.5% in the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 17,491 shares of the financial services provider’s stock worth $1,860,000 after purchasing an additional 2,351 shares during the period. Comerica Bank raised its holdings in Prudential Financial by 1.2% in the 3rd quarter. Comerica Bank now owns 128,529 shares of the financial services provider’s stock worth $14,344,000 after purchasing an additional 1,480 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in Prudential Financial by 2.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 439,228 shares of the financial services provider’s stock worth $46,359,000 after purchasing an additional 10,036 shares during the period. Rhumbline Advisers raised its holdings in Prudential Financial by 0.5% in the 3rd quarter. Rhumbline Advisers now owns 738,441 shares of the financial services provider’s stock worth $78,511,000 after purchasing an additional 3,533 shares during the period. Finally, Toronto Dominion Bank raised its holdings in Prudential Financial by 11.3% in the 3rd quarter. Toronto Dominion Bank now owns 164,406 shares of the financial services provider’s stock worth $17,477,000 after purchasing an additional 16,701 shares during the period. 64.48% of the stock is currently owned by institutional investors.

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Prudential Financial, Inc. (NYSE:PRU) opened at $110.25 on Friday. The firm has a market capitalization of $46,746.00, a PE ratio of 10.65, a PEG ratio of 1.25 and a beta of 1.56. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.34. Prudential Financial, Inc. has a 12-month low of $97.88 and a 12-month high of $115.26.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.71 by $0.30. The firm had revenue of $13.36 billion during the quarter, compared to analyst estimates of $12.24 billion. Prudential Financial had a return on equity of 9.51% and a net margin of 7.71%. During the same quarter last year, the business posted $2.66 earnings per share. sell-side analysts forecast that Prudential Financial, Inc. will post 10.38 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Monday, November 27th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, November 24th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.72%. Prudential Financial’s payout ratio is 30.18%.

In other news, EVP Charles F. Lowrey sold 44,630 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $111.91, for a total transaction of $4,994,543.30. Following the completion of the transaction, the executive vice president now owns 79,354 shares in the company, valued at $8,880,506.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Nicholas C. Silitch sold 44,860 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $111.77, for a total value of $5,014,002.20. Following the transaction, the insider now owns 27,927 shares of the company’s stock, valued at approximately $3,121,400.79. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

A number of equities analysts recently commented on the company. BidaskClub raised Prudential Financial from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Prudential Financial in a report on Friday, August 11th. B. Riley reaffirmed a “buy” rating on shares of Prudential Financial in a report on Monday, November 6th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Prudential Financial in a report on Thursday, August 3rd. Finally, Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 target price on the stock in a report on Tuesday, October 10th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Prudential Financial has a consensus rating of “Buy” and a consensus target price of $115.64.

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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