Premia Global Advisors LLC acquired a new position in Prudential Financial Inc (NYSE:PRU) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 1,779 shares of the financial services provider’s stock, valued at approximately $204,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Truewealth LLC purchased a new position in Prudential Financial in the fourth quarter worth about $105,000. Pinnacle Wealth Planning Services Inc. purchased a new position in Prudential Financial in the fourth quarter worth about $105,000. FTB Advisors Inc. boosted its position in Prudential Financial by 232.2% in the fourth quarter. FTB Advisors Inc. now owns 1,073 shares of the financial services provider’s stock worth $124,000 after purchasing an additional 750 shares during the last quarter. Virtue Capital Management LLC purchased a new position in Prudential Financial in the fourth quarter worth about $123,000. Finally, Cerebellum GP LLC purchased a new position in Prudential Financial in the fourth quarter worth about $127,000. Institutional investors own 66.79% of the company’s stock.
In other news, SVP Barbara Koster sold 16,801 shares of Prudential Financial stock in a transaction dated 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 transaction, the senior vice president now directly owns 37,327 shares of the company’s stock, valued at approximately $4,298,950.59. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stephen Pelletier sold 40,729 shares of Prudential Financial stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $108.75, for a total value of $4,429,278.75. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.
Prudential Financial Inc (NYSE:PRU) opened at $109.60 on Wednesday. Prudential Financial Inc has a 12-month low of $97.88 and a 12-month 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 firm has a market capitalization of $46,373.58, a PE ratio of 10.39, a PEG ratio of 1.14 and a beta of 1.54.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $2.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.64 by $0.05. Prudential Financial had a return on equity of 9.29% and a net margin of 13.41%. The firm had revenue of $15.25 billion for the quarter, compared to analysts’ expectations of $12.87 billion. During the same period in the previous year, the firm earned $2.46 EPS. sell-side analysts predict that Prudential Financial Inc will post 12.06 earnings per share for the current year.
Prudential Financial declared that its board has authorized a share buyback 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. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 21st will be given a dividend of $0.90 per share. This is a boost from Prudential Financial’s previous quarterly dividend of $0.75. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Tuesday, February 20th. Prudential Financial’s payout ratio is presently 20.10%.
PRU has been the topic of several research reports. Sandler O’Neill reissued a “buy” rating and issued a $134.00 target price on shares of Prudential Financial in a research report on Thursday, January 11th. Zacks Investment Research raised 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 reissued a “buy” rating and issued a $127.00 target price on shares of Prudential Financial in a research report on Thursday, December 21st. UBS Group raised Prudential Financial from a “neutral” rating to a “buy” rating in a research report on Friday, March 2nd. Finally, Morgan Stanley dropped their target price on Prudential Financial from $133.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 8th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $118.45.
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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