Janney Montgomery Scott LLC grew its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,256 shares of the financial services provider’s stock after purchasing an additional 1,044 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Prudential Financial were worth $2,792,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Fieldpoint Private Securities LLC acquired a new stake in shares of Prudential Financial during the 2nd quarter worth $103,000. Grove Bank & Trust increased its holdings in shares of Prudential Financial by 507.0% during the 3rd quarter. Grove Bank & Trust now owns 1,129 shares of the financial services provider’s stock worth $120,000 after buying an additional 943 shares during the last quarter. Hudock Capital Group LLC increased its holdings in shares of Prudential Financial by 0.7% during the 2nd quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock worth $123,000 after buying an additional 8 shares during the last quarter. Legacy Advisors LLC acquired a new stake in shares of Prudential Financial during the 3rd quarter worth $129,000. Finally, Zions Bancorporation increased its holdings in shares of Prudential Financial by 44.9% during the 3rd quarter. Zions Bancorporation now owns 1,690 shares of the financial services provider’s stock worth $180,000 after buying an additional 524 shares during the last quarter. 64.65% of the stock is currently owned by institutional investors.
In related news, EVP Charles F. Lowrey sold 44,630 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $111.91, for a total value of $4,994,543.30. Following the completion of the sale, the executive vice president now directly owns 79,354 shares in the company, valued at approximately $8,880,506.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Nicholas C. Silitch sold 44,860 shares of the stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $111.77, for a total value of $5,014,002.20. Following the completion of the sale, the insider now owns 27,927 shares of the company’s stock, valued at $3,121,400.79. The disclosure for this sale can be found here. Over the last quarter, insiders sold 100,017 shares of company stock valued at $11,219,151. 0.66% of the stock is owned by insiders.
A number of research firms have recently commented on PRU. ValuEngine upgraded Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 5th. B. Riley restated a “buy” rating on shares of Prudential Financial in a report on Monday, November 6th. Keefe, Bruyette & Woods restated a “buy” rating and set a $121.00 price objective on shares of Prudential Financial in a report on Monday, October 16th. Zacks Investment Research upgraded Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 price objective for the company in a report on Tuesday, October 10th. Finally, FBR & Co upgraded 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 report on Tuesday, October 10th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Prudential Financial presently has a consensus rating of “Buy” and an average target price of $115.78.
Shares of Prudential Financial, Inc. (PRU) traded up $1.26 during midday trading on Friday, reaching $115.73. The company had a trading volume of 2,850,000 shares, compared to its average volume of 1,750,000. Prudential Financial, Inc. has a 52-week low of $97.88 and a 52-week high of $117.99. The firm has a market cap of $49,810.00, a P/E ratio of 11.18, a P/E/G ratio of 1.30 and a beta of 1.55. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.34.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.30. Prudential Financial had a return on equity of 9.51% and a net margin of 7.71%. The firm had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $12.24 billion. During the same period in the prior year, the firm earned $2.66 EPS. equities analysts predict that Prudential Financial, Inc. will post 10.44 earnings per share for the current fiscal year.
Prudential Financial announced that its Board of Directors has initiated a stock repurchase plan on Thursday, December 14th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 14th. Investors of record on Monday, November 27th were issued a $0.75 dividend. The ex-dividend date was Friday, November 24th. This represents a $3.00 annualized dividend and a yield of 2.59%. Prudential Financial’s dividend payout ratio is currently 30.24%.
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Prudential Financial 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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