Cetera Advisors LLC raised its holdings in shares of Prudential Financial Inc (NYSE:PRU) by 20.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,404 shares of the financial services provider’s stock after purchasing an additional 576 shares during the quarter. Cetera Advisors LLC’s holdings in Prudential Financial were worth $392,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Douglas Lane & Associates LLC lifted its holdings in Prudential Financial by 3.1% during the 3rd quarter. Douglas Lane & Associates LLC now owns 647,412 shares of the financial services provider’s stock worth $68,833,000 after buying an additional 19,238 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in Prudential Financial by 5.0% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 42,113 shares of the financial services provider’s stock worth $4,477,000 after buying an additional 1,990 shares during the last quarter. APG Asset Management N.V. lifted its holdings in Prudential Financial by 171.8% during the 3rd quarter. APG Asset Management N.V. now owns 2,704,719 shares of the financial services provider’s stock worth $287,566,000 after buying an additional 1,709,699 shares during the last quarter. Boston Advisors LLC lifted its holdings in Prudential Financial by 0.8% during the 3rd quarter. Boston Advisors LLC now owns 149,937 shares of the financial services provider’s stock worth $15,941,000 after buying an additional 1,195 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in Prudential Financial by 10.3% during the 3rd quarter. Pacer Advisors Inc. now owns 10,836 shares of the financial services provider’s stock worth $1,152,000 after buying an additional 1,014 shares during the last quarter. Hedge funds and other institutional investors own 64.37% of the company’s stock.
Shares of Prudential Financial Inc (NYSE PRU) opened at $109.43 on Monday. The stock has a market capitalization of $46,400.00, a P/E ratio of 6.13, a P/E/G ratio of 1.13 and a beta of 1.49. Prudential Financial Inc has a 1-year low of $97.88 and a 1-year high of $127.14. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.13 and a quick ratio of 0.13.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.05. The business had revenue of $15.25 billion for the quarter, compared to the consensus estimate of $12.87 billion. Prudential Financial had a return on equity of 9.29% and a net margin of 13.41%. During the same quarter last year, the business posted $2.46 EPS. analysts forecast that Prudential Financial Inc will post 12.06 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 21st will be issued a $0.90 dividend. This is an increase from Prudential Financial’s previous quarterly dividend of $0.75. The ex-dividend date is Tuesday, February 20th. This represents a $3.60 annualized dividend and a dividend yield of 3.29%. Prudential Financial’s dividend payout ratio (DPR) is 16.80%.
Prudential Financial announced that its Board of Directors has authorized a stock repurchase plan on Thursday, December 14th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
A number of research analysts have commented on the company. Wells Fargo & Co set a $122.00 target price on Prudential Financial and gave the stock a “hold” rating in a report on Thursday, December 14th. Atlantic Securities raised Prudential Financial from a “neutral” rating to an “overweight” rating in a report on Thursday, January 11th. Morgan Stanley increased their target price on Prudential Financial from $123.00 to $124.00 and gave the stock an “equal weight” rating in a report on Thursday, November 2nd. B. Riley reaffirmed a “buy” rating on shares of Prudential Financial in a report on Monday, November 6th. Finally, 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 report on Monday, January 8th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Prudential Financial currently has a consensus rating of “Buy” and a consensus price target of $119.14.
In other Prudential Financial news, 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Barbara Koster sold 16,801 shares of Prudential Financial stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $115.17, for a total value of $1,934,971.17. Following the sale, the senior vice president now directly owns 37,327 shares in the company, valued at approximately $4,298,950.59. The disclosure for this sale can be found here. 0.66% of the stock is owned by 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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