Magnetar Financial LLC Buys New Holdings in Prudential Financial, Inc. (PRU)

Magnetar Financial LLC bought a new position in Prudential Financial, Inc. (NYSE:PRU) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 7,935 shares of the financial services provider’s stock, valued at approximately $844,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fieldpoint Private Securities LLC acquired a new position in Prudential Financial in the 2nd quarter worth about $103,000. Grove Bank & Trust increased its holdings in Prudential Financial by 507.0% in the 3rd quarter. Grove Bank & Trust now owns 1,129 shares of the financial services provider’s stock worth $120,000 after purchasing an additional 943 shares in the last quarter. Hudock Capital Group LLC increased its holdings in Prudential Financial by 0.7% in the 2nd quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 8 shares in the last quarter. Legacy Advisors LLC acquired a new position in Prudential Financial in the 3rd quarter worth about $129,000. Finally, Advisory Services Network LLC increased its holdings in Prudential Financial by 128.8% in the 2nd quarter. Advisory Services Network LLC now owns 1,700 shares of the financial services provider’s stock worth $184,000 after purchasing an additional 957 shares in the last quarter. 64.65% of the stock is owned by institutional investors and hedge funds.

In related news, insider Nicholas C. Silitch sold 44,860 shares of the company’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $111.77, for a total transaction of $5,014,002.20. Following the sale, the insider now owns 27,927 shares in the company, valued at approximately $3,121,400.79. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Charles F. Lowrey sold 44,630 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $111.91, for a total value of $4,994,543.30. Following the sale, the executive vice president now owns 79,354 shares in the company, valued at approximately $8,880,506.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,017 shares of company stock worth $11,219,151. 0.66% of the stock is owned by corporate insiders.

Shares of Prudential Financial, Inc. (PRU) traded up $0.82 during trading on Monday, hitting $117.15. The company had a trading volume of 1,184,200 shares, compared to its average volume of 1,844,590. Prudential Financial, Inc. has a 52 week low of $97.88 and a 52 week high of $117.99. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.34. The company has a market cap of $50,420.00, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 1.32 and a beta of 1.55.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, November 1st. The financial services provider reported $3.01 EPS for the quarter, beating the consensus estimate of $2.71 by $0.30. Prudential Financial had a return on equity of 9.51% and a net margin of 7.71%. The company had revenue of $13.36 billion for the quarter, compared to analyst estimates of $12.24 billion. During the same quarter in the prior year, the company earned $2.66 EPS. analysts predict that Prudential Financial, Inc. will post 10.44 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Investors 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 annualized dividend and a dividend yield of 2.56%. Prudential Financial’s payout ratio is 30.24%.

Several equities research analysts have recently weighed in on PRU shares. Citigroup raised Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 price target for the company in a research note on Tuesday, October 17th. Morgan Stanley increased their price target on Prudential Financial from $118.00 to $123.00 and gave the company an “equal weight” rating in a research note on Thursday, October 5th. Royal Bank Of Canada reissued a “hold” rating and issued a $119.00 price target on shares of Prudential Financial in a research note on Friday, November 3rd. Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 price target for the company in a research note on Tuesday, October 10th. Finally, ValuEngine raised Prudential Financial from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 5th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $115.64.

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Prudential Financial Profile

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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