Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by Comerica Bank

Comerica Bank increased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 28.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,035 shares of the financial services provider’s stock after purchasing an additional 22,017 shares during the period. Comerica Bank’s holdings in Prudential Financial were worth $11,744,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PRU. Pinnacle Financial Partners Inc boosted its stake in Prudential Financial by 4.8% during the 4th quarter. Pinnacle Financial Partners Inc now owns 3,455 shares of the financial services provider’s stock worth $358,000 after purchasing an additional 157 shares during the period. DAVENPORT & Co LLC lifted its stake in shares of Prudential Financial by 3.9% in the 4th quarter. DAVENPORT & Co LLC now owns 16,192 shares of the financial services provider’s stock worth $1,679,000 after acquiring an additional 603 shares during the period. Trust Point Inc. acquired a new stake in shares of Prudential Financial in the 4th quarter worth $235,000. Asset Management One Co. Ltd. lifted its stake in shares of Prudential Financial by 0.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 153,216 shares of the financial services provider’s stock worth $15,968,000 after acquiring an additional 711 shares during the period. Finally, Avitas Wealth Management LLC lifted its stake in shares of Prudential Financial by 2.6% in the 4th quarter. Avitas Wealth Management LLC now owns 18,717 shares of the financial services provider’s stock worth $1,941,000 after acquiring an additional 472 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on PRU shares. Evercore ISI raised their target price on shares of Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a research note on Thursday, April 25th. Wells Fargo & Company raised their target price on shares of Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods increased their price target on shares of Prudential Financial from $118.00 to $121.00 and gave the company a “market perform” rating in a report on Monday, July 8th. JPMorgan Chase & Co. increased their price target on shares of Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Finally, Morgan Stanley increased their price target on shares of Prudential Financial from $120.00 to $123.00 and gave the company an “equal weight” rating in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Prudential Financial currently has an average rating of “Hold” and an average price target of $116.92.

Prudential Financial Trading Down 2.3 %

Shares of Prudential Financial stock traded down $2.94 during mid-day trading on Thursday, hitting $122.38. 1,045,192 shares of the stock were exchanged, compared to its average volume of 1,440,758. Prudential Financial, Inc. has a twelve month low of $87.95 and a twelve month high of $128.52. The stock has a market capitalization of $43.93 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 0.98 and a beta of 1.34. The company has a 50-day simple moving average of $119.61 and a 200 day simple moving average of $113.92. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.67.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.16 by ($0.04). Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The firm had revenue of $15.01 billion for the quarter, compared to analyst estimates of $14.50 billion. During the same period in the prior year, the business earned $2.66 earnings per share. Prudential Financial’s revenue for the quarter was up 69.9% on a year-over-year basis. Research analysts forecast that Prudential Financial, Inc. will post 13.38 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Tuesday, May 21st were given a $1.30 dividend. The ex-dividend date was Monday, May 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.25%. Prudential Financial’s dividend payout ratio is presently 88.44%.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were acquired at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the completion of the transaction, the insider now owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, major shareholder Insurance Co Of Ame Prudential bought 652,884 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were acquired at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the completion of the transaction, the insider now owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Robert Falzon sold 130,092 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the completion of the sale, the executive vice president now directly owns 202,083 shares in the company, valued at $23,960,981.31. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Prudential Financial Company Profile

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.