Rhumbline Advisers boosted its stake in shares of Prudential Financial Inc (NYSE:PRU) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 750,804 shares of the financial services provider’s stock after acquiring an additional 12,363 shares during the quarter. Rhumbline Advisers owned approximately 0.18% of Prudential Financial worth $86,327,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of PRU. APG Asset Management N.V. boosted its stake in shares of Prudential Financial by 171.8% in the 3rd 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 purchasing an additional 1,709,699 shares during the last quarter. PGGM Investments boosted its stake in shares of Prudential Financial by 102.2% in the 3rd quarter. PGGM Investments now owns 578,084 shares of the financial services provider’s stock valued at $61,462,000 after purchasing an additional 292,174 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Prudential Financial by 386.4% in the 4th quarter. Teacher Retirement System of Texas now owns 322,308 shares of the financial services provider’s stock valued at $37,059,000 after purchasing an additional 256,049 shares during the last quarter. Retirement Systems of Alabama boosted its stake in shares of Prudential Financial by 93.9% in the 3rd quarter. Retirement Systems of Alabama now owns 403,359 shares of the financial services provider’s stock valued at $42,885,000 after purchasing an additional 195,357 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Prudential Financial by 43.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 447,402 shares of the financial services provider’s stock valued at $51,442,000 after purchasing an additional 136,357 shares during the last quarter. 64.37% of the stock is currently owned by institutional investors.
Prudential Financial Inc (PRU) opened at $109.56 on Friday. Prudential Financial Inc has a one year low of $97.88 and a one year high of $127.14. The firm has a market cap of $46,530.00, a P/E ratio of 6.14, a P/E/G ratio of 1.15 and a beta of 1.49. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.13 and a current ratio of 0.13.
Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $2.69 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.05. Prudential Financial had a net margin of 13.41% and a return on equity of 9.29%. The business had revenue of $15.25 billion for the quarter, compared to analyst estimates of $12.87 billion. During the same quarter last year, the firm earned $2.46 EPS. analysts forecast that Prudential Financial Inc will post 12.06 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 21st will be paid a dividend of $0.90 per share. This is a positive change from Prudential Financial’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $3.60 annualized dividend and a yield of 3.29%. Prudential Financial’s dividend payout ratio (DPR) is presently 16.80%.
Prudential Financial announced that its Board of Directors has approved a stock repurchase program 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 repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.
PRU has been the topic of several recent research reports. Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research note on Monday, January 8th. B. Riley reaffirmed a “buy” rating on shares of Prudential Financial in a research note on Monday, November 6th. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Prudential Financial in a research note on Friday, November 10th. ValuEngine lowered shares of Prudential Financial from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 10th. Finally, Sandler O’Neill reaffirmed a “buy” rating and issued a $134.00 target price on shares of Prudential Financial in a research note on Thursday, January 11th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $119.14.
In other Prudential Financial news, EVP Timothy P. Harris sold 10,527 shares of the firm’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 transaction of $1,210,605.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Barbara Koster sold 16,801 shares of the firm’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 owns 37,327 shares in the company, valued at $4,298,950.59. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.
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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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