Wells Fargo & Company MN grew its holdings in Prudential Financial Inc (NYSE:PRU) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,772,276 shares of the financial services provider’s stock after acquiring an additional 15,896 shares during the period. Wells Fargo & Company MN’s holdings in Prudential Financial were worth $203,776,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the company. APG Asset Management N.V. lifted its position in shares of Prudential Financial by 171.8% in the third quarter. APG Asset Management N.V. now owns 2,704,719 shares of the financial services provider’s stock valued at $287,566,000 after acquiring an additional 1,709,699 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Prudential Financial by 2.3% in the third quarter. Legal & General Group Plc now owns 2,341,330 shares of the financial services provider’s stock worth $248,931,000 after buying an additional 52,597 shares in the last quarter. Swiss National Bank lifted its position in shares of Prudential Financial by 0.6% in the third quarter. Swiss National Bank now owns 1,580,987 shares of the financial services provider’s stock worth $168,091,000 after buying an additional 10,000 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Prudential Financial by 5.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,561,532 shares of the financial services provider’s stock worth $179,545,000 after buying an additional 81,628 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in shares of Prudential Financial by 4.9% in the fourth quarter. Bank of Montreal Can now owns 1,551,788 shares of the financial services provider’s stock worth $178,423,000 after buying an additional 72,507 shares in the last quarter. Institutional investors and hedge funds own 64.37% of the company’s stock.
In other Prudential Financial news, SVP Barbara Koster sold 16,801 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $115.17, for a total transaction of $1,934,971.17. Following the sale, the senior vice president now directly owns 37,327 shares in the company, valued at $4,298,950.59. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Timothy P. Harris sold 10,527 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $115.00, for a total value of $1,210,605.00. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.
Shares of Prudential Financial Inc (NYSE:PRU) opened at $109.43 on Friday. Prudential Financial Inc has a 52-week low of $97.88 and a 52-week high of $127.14. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.13 and a current ratio of 0.13. The stock has a market capitalization of $46,400.00, a P/E ratio of 6.13, a price-to-earnings-growth ratio of 1.13 and a beta of 1.49.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $2.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.05. Prudential Financial had a return on equity of 9.29% and a net margin of 13.41%. The business had revenue of $15.25 billion for the quarter, compared to the consensus estimate of $12.87 billion. During the same period in the prior year, the business posted $2.46 earnings per share. equities research analysts predict that Prudential Financial Inc will post 12.06 EPS for the current year.
Prudential Financial announced that its Board of Directors has initiated a share repurchase plan on Thursday, December 14th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 21st will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Tuesday, February 20th. This is an increase from Prudential Financial’s previous quarterly dividend of $0.75. This represents a $3.60 dividend on an annualized basis and a yield of 3.29%. Prudential Financial’s dividend payout ratio is 16.80%.
A number of equities research analysts recently commented on the company. Sandler O’Neill reiterated a “buy” rating and issued a $134.00 target price on shares of Prudential Financial in a research report on Thursday, January 11th. Atlantic Securities upgraded Prudential Financial from a “neutral” rating to an “overweight” rating in a research report on Thursday, January 11th. Zacks Investment Research upgraded Prudential Financial from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research report on Monday, January 8th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $127.00 target price on shares of Prudential Financial in a research report on Thursday, December 21st. Finally, ValuEngine upgraded Prudential Financial from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 5th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $119.14.
About Prudential Financial
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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