Investors Buy Shares of Prudential Financial (PRU) on Weakness on Disappointing Earnings

Traders bought shares of Prudential Financial Inc (NYSE:PRU) on weakness during trading on Thursday after the company announced weaker than expected quarterly earnings. $125.34 million flowed into the stock on the tick-up and $74.28 million flowed out of the stock on the tick-down, for a money net flow of $51.06 million into the stock. Of all companies tracked, Prudential Financial had the 18th highest net in-flow for the day. Prudential Financial traded down ($3.72) for the day and closed at $96.97The financial services provider reported $3.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.16 by ($0.01). The company had revenue of $14.43 billion for the quarter, compared to analyst estimates of $13.51 billion. Prudential Financial had a return on equity of 9.98% and a net margin of 13.16%. During the same period last year, the company posted $3.01 earnings per share.

Several analysts have recently issued reports on PRU shares. B. Riley reduced their target price on Prudential Financial from $129.00 to $116.00 and set a “buy” rating on the stock in a report on Monday, July 16th. Zacks Investment Research lowered Prudential Financial from a “buy” rating to a “hold” rating in a research note on Monday, July 16th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $122.00 price objective on shares of Prudential Financial in a research note on Friday, August 3rd. Credit Suisse Group reduced their price objective on Prudential Financial from $102.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, August 17th. Finally, ValuEngine raised Prudential Financial from a “strong sell” rating to a “sell” rating in a research note on Tuesday, September 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Prudential Financial currently has an average rating of “Buy” and a consensus price target of $119.31.

In other news, insider Scott Sleyster sold 23,300 shares of Prudential Financial stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $99.74, for a total transaction of $2,323,942.00. Following the sale, the insider now directly owns 57,758 shares of the company’s stock, valued at $5,760,782.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Prudential Financial Inc purchased 880,000 shares of the business’s stock in a transaction dated Tuesday, October 16th. The shares were purchased at an average cost of $25.00 per share, for a total transaction of $22,000,000.00. The disclosure for this purchase can be found here. Company insiders own 0.66% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Flagship Harbor Advisors LLC acquired a new stake in shares of Prudential Financial during the second quarter valued at about $104,000. Sun Life Financial INC boosted its stake in shares of Prudential Financial by 470.9% during the second quarter. Sun Life Financial INC now owns 1,136 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 937 shares in the last quarter. Vigilant Capital Management LLC acquired a new stake in shares of Prudential Financial during the second quarter valued at about $125,000. BerganKDV Wealth Management LLC boosted its stake in shares of Prudential Financial by 165.8% during the third quarter. BerganKDV Wealth Management LLC now owns 1,284 shares of the financial services provider’s stock valued at $130,000 after purchasing an additional 801 shares in the last quarter. Finally, Financial Architects Inc boosted its stake in shares of Prudential Financial by 303.9% during the second quarter. Financial Architects Inc now owns 1,640 shares of the financial services provider’s stock valued at $153,000 after purchasing an additional 1,234 shares in the last quarter. 63.15% of the stock is currently owned by hedge funds and other institutional investors.

The company has a market cap of $41.02 billion, a P/E ratio of 9.06, a PEG ratio of 0.90 and a beta of 1.44. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.12 and a quick ratio of 0.12.

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Prudential Financial Company Profile (NYSE:PRU)

Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through U.S. Individual Solutions, U.S. Workplace Solutions, Investment Management, and International Insurance divisions.

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