Ladenburg Thalmann Financial Services Inc. lowered its position in Prudential Financial, Inc. (NYSE:PRU) by 4.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,960 shares of the financial services provider’s stock after selling 1,360 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Prudential Financial were worth $3,080,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of PRU. Fieldpoint Private Securities LLC bought a new position in Prudential Financial in the 2nd quarter worth approximately $103,000. Grove Bank & Trust raised its position in Prudential Financial by 507.0% in the 3rd quarter. Grove Bank & Trust now owns 1,129 shares of the financial services provider’s stock worth $120,000 after purchasing an additional 943 shares during the last quarter. Hudock Capital Group LLC raised its position in Prudential Financial by 0.7% in the 2nd quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 8 shares during the last quarter. Legacy Advisors LLC bought a new position in Prudential Financial in the 3rd quarter worth approximately $129,000. Finally, Zions Bancorporation raised its position in Prudential Financial by 44.9% in the 3rd quarter. Zions Bancorporation now owns 1,690 shares of the financial services provider’s stock worth $180,000 after purchasing an additional 524 shares during the last quarter. Institutional investors own 64.65% of the company’s stock.
In other news, EVP Charles F. Lowrey sold 44,630 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $111.91, for a total value of $4,994,543.30. Following the completion of the transaction, the executive vice president now owns 79,354 shares of the company’s stock, valued at approximately $8,880,506.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Timothy P. Harris sold 10,527 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $115.00, for a total transaction of $1,210,605.00. The disclosure for this sale can be found here. Insiders have sold a total of 100,017 shares of company stock valued at $11,219,151 in the last ninety days. Company insiders own 0.66% of the company’s stock.
Several research analysts recently weighed in on the stock. Wells Fargo & Company set a $122.00 price objective on shares of Prudential Financial and gave the stock a “hold” rating in a research report on Thursday. ValuEngine upgraded shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 5th. FBR & Co upgraded shares of Prudential Financial from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $117.00 to $100.00 in a research report on Tuesday, October 10th. B. Riley restated a “buy” rating on shares of Prudential Financial in a research report on Monday, November 6th. Finally, Goldman Sachs Group started coverage on shares of Prudential Financial in a research report on Wednesday, October 18th. They issued a “neutral” rating and a $114.00 price objective for the company. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $115.78.
Prudential Financial, Inc. (PRU) traded up $0.52 on Friday, reaching $114.47. 1,981,800 shares of the company’s stock were exchanged, compared to its average volume of 1,843,200. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.34. Prudential Financial, Inc. has a 12-month low of $97.88 and a 12-month high of $117.99. The firm has a market cap of $48,314.80, a price-to-earnings ratio of 11.01, a PEG ratio of 1.28 and a beta of 1.55.
Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, November 1st. The financial services provider reported $3.01 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.30. Prudential Financial had a net margin of 7.71% and a return on equity of 9.51%. The firm had revenue of $13.36 billion during the quarter, compared to analyst estimates of $12.24 billion. During the same quarter in the previous year, the business earned $2.66 EPS. equities analysts forecast that Prudential Financial, Inc. will post 10.44 earnings per share for the current fiscal year.
Prudential Financial declared that its Board of Directors has initiated a stock repurchase plan on Thursday, December 14th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 14th. Shareholders of record on Monday, November 27th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date was Friday, November 24th. Prudential Financial’s dividend payout ratio is presently 30.18%.
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Prudential Financial Company Profile
Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.
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