Institute for Wealth Management LLC. Acquires 366 Shares of Prudential Financial Inc (NYSE:PRU)

Institute for Wealth Management LLC. raised its holdings in Prudential Financial Inc (NYSE:PRU) by 4.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,278 shares of the financial services provider’s stock after purchasing an additional 366 shares during the period. Institute for Wealth Management LLC.’s holdings in Prudential Financial were worth $565,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of PRU. Pathstone Family Office LLC lifted its holdings in shares of Prudential Financial by 46.0% during the 1st quarter. Pathstone Family Office LLC now owns 524 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 165 shares during the period. Baystate Wealth Management LLC lifted its holdings in shares of Prudential Financial by 954.5% during the 2nd quarter. Baystate Wealth Management LLC now owns 464 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 420 shares during the period. HHM Wealth Advisors LLC bought a new stake in shares of Prudential Financial during the 1st quarter worth approximately $31,000. Golden State Wealth Management LLC bought a new stake in shares of Prudential Financial during the 1st quarter worth approximately $32,000. Finally, WASHINGTON TRUST Co bought a new stake in shares of Prudential Financial during the 1st quarter worth approximately $33,000. 60.48% of the stock is owned by hedge funds and other institutional investors.

NYSE PRU traded down $0.29 on Friday, hitting $63.37. The company’s stock had a trading volume of 4,421,083 shares, compared to its average volume of 2,196,426. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.33. Prudential Financial Inc has a 1-year low of $38.62 and a 1-year high of $102.54. The company’s 50-day moving average is $62.12 and its 200 day moving average is $67.26. The firm has a market cap of $25.03 billion, a PE ratio of 8.79, a PEG ratio of 0.76 and a beta of 1.70.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $2.32 EPS for the quarter, missing the Zacks’ consensus estimate of $2.84 by ($0.52). Prudential Financial had a net margin of 5.16% and a return on equity of 7.13%. The firm had revenue of $13.33 billion during the quarter, compared to the consensus estimate of $14.81 billion. During the same period in the prior year, the company posted $3.00 earnings per share. On average, equities analysts expect that Prudential Financial Inc will post 9.21 EPS for the current year.

PRU has been the subject of a number of recent analyst reports. Credit Suisse Group reaffirmed a “hold” rating and set a $64.00 price target on shares of Prudential Financial in a report on Wednesday, May 6th. DOWLING & PARTN cut shares of Prudential Financial from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 28th. JPMorgan Chase & Co. lowered their price objective on shares of Prudential Financial from $108.00 to $100.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. Wells Fargo & Co reiterated a “hold” rating on shares of Prudential Financial in a research report on Tuesday, July 7th. Finally, Bank of America lowered their price objective on shares of Prudential Financial from $71.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $79.93.

About Prudential Financial

Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.

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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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