Rafferty Asset Management LLC Has Raised Its Prudential Finl INC (PRU) Stake by $4.73 Million as Stock Declined

September 17, 2017 - By Adrian Erickson

Investors sentiment increased to 1.17 in 2016 Q4. Its up 0.32, from 0.85 in 2016Q3. It increased, as 40 investors sold PRU shares while 258 reduced holdings. 104 funds opened positions while 244 raised stakes. 258.13 million shares or 1.92% more from 253.26 million shares in 2016Q3 were reported. Blb&B Advsr Limited reported 0.04% in Prudential Financial Inc (NYSE:PRU). M&R Capital Mgmt Inc reported 1,612 shares or 0.05% of all its holdings. Plante Moran Fincl Advsrs Limited Liability, a Michigan-based fund reported 328 shares. Moreover, Chem National Bank has 0.43% invested in Prudential Financial Inc (NYSE:PRU). Tiaa Cref Mgmt Limited Liability Corp reported 0.11% in Prudential Financial Inc (NYSE:PRU). Bkd Wealth Advisors Ltd Liability Company has invested 0.04% in Prudential Financial Inc (NYSE:PRU). Proshare Limited Com reported 0.14% in Prudential Financial Inc (NYSE:PRU). Stifel Financial has 0.03% invested in Prudential Financial Inc (NYSE:PRU). Ibm Retirement Fund has invested 0.19% of its portfolio in Prudential Financial Inc (NYSE:PRU). Independent Portfolio Consultants has 4,559 shares. Janus Cap Mngmt Limited Com stated it has 0.01% in Prudential Financial Inc (NYSE:PRU). Wesbanco National Bank reported 71,802 shares stake. 2,000 are held by Drexel Morgan. Principal Financial Grp owns 1.62M shares. Jacobs Levy Equity Mngmt owns 0.56% invested in Prudential Financial Inc (NYSE:PRU) for 279,879 shares.

Since May 8, 2017, it had 0 insider buys, and 1 sale for $24.08 million activity. Shares for $24.08 million were sold by Lowrey Charles F on Monday, May 8.

Rafferty Asset Management Llc increased its stake in Prudential Finl Inc (PRU) by 160.06% based on its latest 2016Q4 regulatory filing with the SEC. Rafferty Asset Management Llc bought 45,526 shares as the company’s stock declined 6.41% while stock markets rallied. The institutional investor held 73,969 shares of the finance company at the end of 2016Q4, valued at $7.70M, up from 28,443 at the end of the previous reported quarter. Rafferty Asset Management Llc who had been investing in Prudential Finl Inc for a number of months, seems to be bullish on the $44.23 billion market cap company. The stock increased 0.79% or $0.81 on September 15, reaching $102.78. About 2.94M shares traded or 43.41% up from the average. Prudential Financial Inc (NYSE:PRU) has risen 33.66% since September 17, 2016 and is uptrending. It has outperformed by 16.96% the S&P500.

Rafferty Asset Management Llc, which manages about $7.35B and $2.18 billion US Long portfolio, decreased its stake in Ishares Tr (ILF) by 135,877 shares to 18,164 shares, valued at $501,000 in 2016Q4, according to the filing. It also reduced its holding in Ishares Tr (TLT) by 47,108 shares in the quarter, leaving it with 50,343 shares, and cut its stake in Select Sector Spdr Tr (XLE).

More news for Prudential Financial Inc (NYSE:PRU) were recently published by: Businesswire.com, which released: “AM Best Assigns Issue Credit Rating to Prudential Financial Inc.’s New Junior …” on September 14, 2017. Businesswire.com‘s article titled: “Prudential Financial, Inc. to Participate in CECP’s CEO Investor Forum; Live …” and published on September 08, 2017 is yet another important article.

Prudential Financial Inc (NYSE:PRU) Ratings Coverage

Among 13 analysts covering Prudential Financial (NYSE:PRU), 6 have Buy rating, 0 Sell and 7 Hold. Therefore 46% are positive. Prudential Financial has $121 highest and $78 lowest target. $98.40’s average target is -4.26% below currents $102.78 stock price. Prudential Financial had 33 analyst reports since August 6, 2015 according to SRatingsIntel. The firm earned “Neutral” rating on Friday, February 10 by Atlantic Securities. On Friday, November 18 the stock rating was upgraded by Bank of America to “Buy”. The company was maintained on Tuesday, June 6 by Wells Fargo. The company was upgraded on Monday, September 7 by Zacks. The stock of Prudential Financial Inc (NYSE:PRU) has “Mkt Perform” rating given on Tuesday, October 18 by FBR Capital. Keefe Bruyette & Woods maintained Prudential Financial Inc (NYSE:PRU) rating on Thursday, November 12. Keefe Bruyette & Woods has “Outperform” rating and $101 target. On Thursday, February 11 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. Bank of America downgraded the shares of PRU in report on Wednesday, June 29 to “Underperform” rating. The firm earned “Hold” rating on Tuesday, September 5 by RBC Capital Markets. The stock of Prudential Financial Inc (NYSE:PRU) has “Overweight” rating given on Thursday, February 11 by Barclays Capital.

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