Greenleaf Trust Acquires 1,902 Shares of Prudential Financial Inc (PRU)

Greenleaf Trust lifted its holdings in shares of Prudential Financial Inc (NYSE:PRU) by 465.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,311 shares of the financial services provider’s stock after buying an additional 1,902 shares during the period. Greenleaf Trust’s holdings in Prudential Financial were worth $266,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Retirement Systems of Alabama boosted its stake in shares of Prudential Financial by 5.6% during the fourth quarter. Retirement Systems of Alabama now owns 425,875 shares of the financial services provider’s stock worth $48,967,000 after buying an additional 22,516 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Prudential Financial by 43.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 447,402 shares of the financial services provider’s stock worth $51,442,000 after buying an additional 136,357 shares during the period. Willingdon Wealth Management boosted its stake in shares of Prudential Financial by 14.6% during the fourth quarter. Willingdon Wealth Management now owns 8,806 shares of the financial services provider’s stock worth $1,013,000 after buying an additional 1,123 shares during the period. Cetera Advisor Networks LLC boosted its stake in shares of Prudential Financial by 10.2% during the fourth quarter. Cetera Advisor Networks LLC now owns 5,142 shares of the financial services provider’s stock worth $586,000 after buying an additional 475 shares during the period. Finally, Cetera Advisors LLC boosted its stake in shares of Prudential Financial by 20.4% during the fourth quarter. Cetera Advisors LLC now owns 3,404 shares of the financial services provider’s stock worth $392,000 after buying an additional 576 shares during the period. Institutional investors and hedge funds own 64.37% of the company’s stock.

In other news, EVP Timothy P. Harris sold 10,527 shares of Prudential Financial 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Barbara Koster sold 16,801 shares of Prudential Financial stock in a transaction that occurred on Tuesday, January 2nd. The shares were 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 of the company’s stock, 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.

Shares of Prudential Financial Inc (NYSE:PRU) opened at $109.43 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.13 and a quick ratio of 0.13. The company has a market cap of $46,525.52, a PE ratio of 10.37, a P/E/G ratio of 1.14 and a beta of 1.50. Prudential Financial Inc has a 12-month low of $97.88 and a 12-month high of $127.14.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $2.69 EPS for the quarter, beating the Zacks’ consensus estimate of $2.64 by $0.05. The firm had revenue of $15.25 billion during the quarter, compared to the consensus estimate of $12.87 billion. Prudential Financial had a net margin of 13.41% and a return on equity of 9.29%. During the same quarter last year, the firm earned $2.46 earnings per share. equities analysts forecast that Prudential Financial Inc will post 12.06 EPS for the current year.

Prudential Financial announced that its board has initiated a share buyback plan on Thursday, December 14th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

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 given a $0.90 dividend. The ex-dividend date is Tuesday, February 20th. This represents a $3.60 dividend on an annualized basis and a yield of 3.29%. This is an increase from Prudential Financial’s previous quarterly dividend of $0.75. Prudential Financial’s dividend payout ratio (DPR) is presently 16.75%.

Several brokerages have recently weighed in on PRU. Royal Bank of Canada upgraded shares of Prudential Financial from a “sector perform” rating to an “outperform” rating in a research note on Monday, February 12th. They noted that the move was a valuation call. Deutsche Bank decreased their target price on shares of Prudential Financial from $132.00 to $125.00 and set a “hold” rating for the company in a research note on Friday, February 9th. Wells Fargo & Co decreased their target price on shares of Prudential Financial from $122.00 to $111.00 and set a “market perform” rating for the company in a research note on Friday, February 9th. Morgan Stanley decreased their target price on shares of Prudential Financial from $133.00 to $131.00 and set an “equal weight” rating for the company in a research note on Thursday, February 8th. Finally, Sandler O’Neill reiterated a “buy” rating and set a $134.00 target price on shares of Prudential Financial in a research note on Thursday, January 11th. Six investment 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 has a consensus rating of “Buy” and a consensus price target of $119.14.

COPYRIGHT VIOLATION NOTICE: “Greenleaf Trust Acquires 1,902 Shares of Prudential Financial Inc (PRU)” was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of US & international copyright laws. The correct version of this piece of content can be viewed at https://www.dispatchtribunal.com/2018/02/17/greenleaf-trust-acquires-1902-shares-of-prudential-financial-inc-pru.html.

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.

Want to see what other hedge funds are holding PRU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prudential Financial Inc (NYSE:PRU).

Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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.

Leave a Reply