Timber Hill LLC grew its position in shares of Prudential Financial Inc (NYSE:PRU) by 1,631.8% in the fourth quarter, HoldingsChannel reports. The firm owned 42,567 shares of the financial services provider’s stock after buying an additional 40,109 shares during the quarter. Timber Hill LLC’s holdings in Prudential Financial were worth $4,894,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. FTB Advisors Inc. grew its position in shares of Prudential Financial by 232.2% during the fourth quarter. FTB Advisors Inc. now owns 1,073 shares of the financial services provider’s stock valued at $124,000 after purchasing an additional 750 shares in the last quarter. Cerebellum GP LLC purchased a new position in shares of Prudential Financial during the fourth quarter valued at about $127,000. Grove Bank & Trust grew its position in shares of Prudential Financial by 507.0% during the third quarter. Grove Bank & Trust now owns 1,129 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 943 shares in the last quarter. Legacy Advisors LLC purchased a new position in shares of Prudential Financial during the third quarter valued at about $129,000. Finally, Community Bank N.A. grew its position in shares of Prudential Financial by 269.7% during the fourth quarter. Community Bank N.A. now owns 1,353 shares of the financial services provider’s stock valued at $156,000 after purchasing an additional 987 shares in the last quarter. Hedge funds and other institutional investors own 63.81% of the company’s stock.
In other Prudential Financial news, EVP Timothy P. Harris sold 10,527 shares of the business’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Barbara Koster sold 16,801 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 37,327 shares of the company’s stock, 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.
PRU has been the subject of several recent research reports. Sandler O’Neill reiterated a “buy” rating and issued a $134.00 price target on shares of Prudential Financial in a research report on Thursday, January 11th. Atlantic Securities upgraded Prudential Financial from a “neutral” rating to an “overweight” rating in a research report on Thursday, January 11th. Zacks Investment Research upgraded Prudential Financial from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a research report on Monday, January 8th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $127.00 price target on shares of Prudential Financial in a research report on Thursday, December 21st. Finally, ValuEngine upgraded Prudential Financial from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 5th. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $118.38.
Prudential Financial Inc (NYSE PRU) opened at $109.03 on Tuesday. Prudential Financial Inc has a 12-month low of $97.88 and a 12-month high of $127.14. The stock has a market capitalization of $46,180.00, a P/E ratio of 9.73, a price-to-earnings-growth ratio of 1.13 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 announced its earnings results on Wednesday, February 7th. The financial services provider reported $2.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $15.25 billion during the quarter, compared to analyst estimates of $12.87 billion. During the same quarter in the previous year, the business earned $2.46 earnings per share. equities research analysts forecast that Prudential Financial Inc will post 12.06 EPS for the current fiscal year.
Prudential Financial declared that its Board of Directors has initiated a stock buyback plan on Thursday, December 14th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 21st will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is Tuesday, February 20th. This is a positive change from Prudential Financial’s previous quarterly dividend of $0.75. Prudential Financial’s payout ratio is 26.67%.
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Prudential Financial Company 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.
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