M Holdings Securities Inc. Purchases 10,086 Shares of Prudential Financial, Inc. $PRU

M Holdings Securities Inc. acquired a new position in Prudential Financial, Inc. (NYSE:PRU) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,086 shares of the financial services provider’s stock, valued at approximately $1,193,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Orca Investment Management LLC purchased a new stake in shares of Prudential Financial during the 2nd quarter valued at approximately $2,605,000. Jones Financial Companies Lllp boosted its holdings in Prudential Financial by 21.3% in the 2nd quarter. Jones Financial Companies Lllp now owns 58,436 shares of the financial services provider’s stock worth $6,325,000 after buying an additional 10,257 shares during the period. Envestnet Asset Management Inc. grew its stake in Prudential Financial by 2.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 739,294 shares of the financial services provider’s stock valued at $79,792,000 after buying an additional 19,451 shares in the last quarter. Raiffeisen Bank International AG raised its holdings in Prudential Financial by 7.3% during the 2nd quarter. Raiffeisen Bank International AG now owns 91,566 shares of the financial services provider’s stock valued at $9,999,000 after acquiring an additional 6,237 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in Prudential Financial by 379.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 619,701 shares of the financial services provider’s stock valued at $66,884,000 after acquiring an additional 490,553 shares during the period. 56.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PRU shares. Keefe, Bruyette & Woods dropped their target price on Prudential Financial from $123.00 to $119.00 and set a “market perform” rating on the stock in a research report on Friday, October 16th. Wells Fargo & Company reduced their price target on Prudential Financial from $104.00 to $103.00 and set an “underweight” rating for the company in a research report on Wednesday, October 28th. BMO Capital Markets boosted their price objective on Prudential Financial from $90.00 to $120.00 and gave the company an “underperform” rating in a research note on Friday, August 21st. Zacks Research cut Prudential Financial from a “hold” rating to a “strong sell” rating in a report on Friday, October 23rd. Finally, Morgan Stanley dropped their price objective on Prudential Financial from $105.00 to $100.00 and set an “underweight” rating on the stock in a report on Monday, October 19th. Two investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Prudential Financial has a consensus rating of “Reduce” and an average price target of $112.40.

Insider Activity

In other news, EVP Ann Kappler sold 7,652 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $125.01, for a total value of $956,576.52. Following the completion of the transaction, the executive vice president directly owned 14,407 shares in the company, valued at approximately $1,801,019.07. This represents a 34.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.05% of the company’s stock.

Prudential Financial Stock Performance

NYSE PRU opened at $122.24 on Tuesday. Prudential Financial, Inc. has a 52-week low of $91.89 and a 52-week high of $128.78. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.16 and a current ratio of 0.17. The company has a market capitalization of $42.17 billion, a P/E ratio of 11.12, a P/E/G ratio of 2.12 and a beta of 0.85. The company has a fifty day moving average of $117.03 and a 200-day moving average of $109.03.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, November 3rd. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.44. The company had revenue of $14.45 billion during the quarter, compared to analyst estimates of $14.66 billion. Prudential Financial had a net margin of 6.75% and a return on equity of 16.38%. During the same period in the previous year, the business earned $4.26 earnings per share. As a group, equities research analysts predict that Prudential Financial, Inc. will post 13.54 EPS for the current fiscal year.

About Prudential Financial

Prudential Financial, Inc is a financial services company headquartered in Newark, New Jersey. Founded in 1875 as the Prudential Friendly Society, it has grown into a provider of insurance, retirement and investment services.

The company offers life insurance, annuities, workplace benefits and retirement-related products and services. Through its asset management businesses, Prudential also serves individual and institutional investors.

Prudential serves customers in the United States and operates internationally, with a significant presence in Japan and other markets.