Stratos Wealth Partners LTD. Has $657,000 Position in Prudential Financial, Inc. (PRU)
Stratos Wealth Partners LTD. lessened its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 7.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,181 shares of the financial services provider’s stock after selling 496 shares during the period. Stratos Wealth Partners LTD.’s holdings in Prudential Financial were worth $657,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Signature Estate & Investment Advisors LLC raised its holdings in Prudential Financial by 15.5% during the third quarter. Signature Estate & Investment Advisors LLC now owns 17,491 shares of the financial services provider’s stock worth $1,860,000 after acquiring an additional 2,351 shares in the last quarter. Comerica Bank raised its holdings in Prudential Financial by 1.2% during the third quarter. Comerica Bank now owns 128,529 shares of the financial services provider’s stock worth $14,344,000 after acquiring an additional 1,480 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Prudential Financial by 2.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 439,228 shares of the financial services provider’s stock worth $46,359,000 after acquiring an additional 10,036 shares in the last quarter. Rhumbline Advisers raised its holdings in Prudential Financial by 0.5% during the third quarter. Rhumbline Advisers now owns 738,441 shares of the financial services provider’s stock worth $78,511,000 after acquiring an additional 3,533 shares in the last quarter. Finally, Toronto Dominion Bank raised its holdings in Prudential Financial by 11.3% during the third quarter. Toronto Dominion Bank now owns 164,406 shares of the financial services provider’s stock worth $17,477,000 after acquiring an additional 16,701 shares in the last quarter. Institutional investors and hedge funds own 64.48% of the company’s stock.
Shares of Prudential Financial, Inc. (PRU) traded down $0.12 during trading hours on Friday, reaching $110.25. The company had a trading volume of 1,231,334 shares, compared to its average volume of 1,854,334. The firm has a market capitalization of $47,550.00, a P/E ratio of 10.59, a P/E/G ratio of 1.24 and a beta of 1.56. Prudential Financial, Inc. has a 1-year low of $97.88 and a 1-year high of $115.26. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.34.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.71 by $0.30. The business had revenue of $13.36 billion for the quarter, compared to the consensus estimate 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 in the prior year, the business posted $2.66 earnings per share. sell-side analysts predict that Prudential Financial, Inc. will post 10.38 EPS for the current fiscal year.
The business also recently declared 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. This represents a $3.00 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Friday, November 24th. Prudential Financial’s dividend payout ratio is currently 30.24%.
In related news, insider Nicholas C. Silitch sold 44,860 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $3,121,400.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Charles F. Lowrey sold 44,630 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was 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 directly owns 79,354 shares in the company, valued at approximately $8,880,506.14. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.
A number of equities analysts have weighed in on the company. Wells Fargo & Company reissued a “hold” rating and set a $120.00 price target (up previously from $114.00) on shares of Prudential Financial in a research report on Wednesday, November 8th. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Prudential Financial in a research report on Friday, August 11th. B. Riley reissued a “buy” rating on shares of Prudential Financial in a research report on Monday, November 6th. ValuEngine downgraded Prudential Financial from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 10th. Finally, BidaskClub downgraded Prudential Financial from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Prudential Financial presently has a consensus rating of “Buy” and an average target price of $115.13.
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Prudential Financial Company 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.
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