Sit Investment Associates Inc. lifted its position in shares of Prudential Financial Inc (NYSE:PRU) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,605 shares of the financial services provider’s stock after purchasing an additional 1,310 shares during the period. Sit Investment Associates Inc.’s holdings in Prudential Financial were worth $5,934,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of PRU. Green Square Capital LLC lifted its holdings in Prudential Financial by 0.3% in the second quarter. Green Square Capital LLC now owns 2,065 shares of the financial services provider’s stock worth $223,000 after buying an additional 7 shares during the period. Security National Bank of SO Dak lifted its holdings in Prudential Financial by 3.3% in the second quarter. Security National Bank of SO Dak now owns 4,539 shares of the financial services provider’s stock worth $491,000 after buying an additional 145 shares during the period. Horizon Investment Services LLC lifted its holdings in Prudential Financial by 9.8% in the second quarter. Horizon Investment Services LLC now owns 2,199 shares of the financial services provider’s stock worth $238,000 after buying an additional 196 shares during the period. Wealthfront Inc. lifted its holdings in Prudential Financial by 1.8% in the second quarter. Wealthfront Inc. now owns 11,447 shares of the financial services provider’s stock worth $1,238,000 after buying an additional 205 shares during the period. Finally, Comerica Securities Inc. increased its stake in shares of Prudential Financial by 6.4% during the second quarter. Comerica Securities Inc. now owns 3,434 shares of the financial services provider’s stock valued at $371,000 after purchasing an additional 206 shares in the last quarter. Institutional investors own 64.57% of the company’s stock.
Prudential Financial Inc (PRU) traded down $3.19 during trading hours on Friday, reaching $117.33. 1,993,116 shares of the company’s stock were exchanged, compared to its average volume of 1,878,394. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial Inc has a fifty-two week low of $97.88 and a fifty-two week high of $127.14. The company has a market cap of $51,100.48, a P/E ratio of 11.80, a PEG ratio of 1.23 and a beta of 1.50.
Prudential Financial (NYSE:PRU) last posted 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 business had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $12.24 billion. During the same quarter in the previous year, the firm posted $2.66 EPS. equities analysts predict that Prudential Financial Inc will post 10.49 earnings per share for the current year.
Prudential Financial declared that its board has authorized a share repurchase plan on Thursday, December 14th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
In other news, EVP Charles F. Lowrey sold 44,630 shares of Prudential Financial stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $111.91, for a total transaction of $4,994,543.30. Following the transaction, the executive vice president now owns 79,354 shares in the company, valued at approximately $8,880,506.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Timothy P. Harris sold 10,527 shares of Prudential Financial stock in a transaction on Wednesday, November 29th. The stock was 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 116,818 shares of company stock worth $13,154,122 in the last quarter. Corporate insiders own 0.66% of the company’s stock.
A number of equities analysts have weighed in on the stock. ValuEngine raised shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 5th. B. Riley reaffirmed a “buy” rating on shares of Prudential Financial in a research note on Monday, November 6th. Sandler O’Neill reaffirmed a “buy” rating and set a $134.00 target price on shares of Prudential Financial in a research note on Thursday, January 11th. FBR & Co raised shares of Prudential Financial from a “neutral” rating to a “buy” rating and decreased their target price for the company from $117.00 to $100.00 in a research note on Tuesday, October 10th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $121.00 price target on shares of Prudential Financial in a research report on Monday, October 16th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $119.35.
COPYRIGHT VIOLATION NOTICE: This piece was first posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.dispatchtribunal.com/2018/02/03/sit-investment-associates-inc-has-5-93-million-position-in-prudential-financial-inc-pru.html.
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.
Receive News & Ratings for Prudential Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial and related companies with MarketBeat.com's FREE daily email newsletter.