State of Tennessee Treasury Department boosted its holdings in shares of Prudential Financial Inc (NYSE:PRU) by 21.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 444,688 shares of the financial services provider’s stock after acquiring an additional 78,506 shares during the period. State of Tennessee Treasury Department owned about 0.10% of Prudential Financial worth $51,130,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in PRU. Steward Partners Investment Advisory LLC grew its holdings in shares of Prudential Financial by 3.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 13,045 shares of the financial services provider’s stock worth $1,499,000 after buying an additional 433 shares in the last quarter. Seaward Management Limited Partnership grew its holdings in shares of Prudential Financial by 1.1% during the fourth quarter. Seaward Management Limited Partnership now owns 42,653 shares of the financial services provider’s stock worth $4,904,000 after buying an additional 450 shares in the last quarter. Cetera Advisor Networks LLC grew its holdings 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 in the last quarter. Hussman Strategic Advisors Inc. grew its holdings in shares of Prudential Financial by 2.0% during the third quarter. Hussman Strategic Advisors Inc. now owns 25,500 shares of the financial services provider’s stock worth $2,711,000 after buying an additional 500 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. grew its holdings in shares of Prudential Financial by 0.7% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 70,536 shares of the financial services provider’s stock worth $7,499,000 after buying an additional 500 shares in the last quarter. Institutional investors own 63.81% of the company’s stock.
Shares of Prudential Financial Inc (NYSE:PRU) opened at $109.47 on Thursday. Prudential Financial Inc has a twelve month low of $97.88 and a twelve month high of $127.14. The stock has a market cap of $45,840.00, a P/E ratio of 9.66, a P/E/G ratio of 1.12 and a beta of 1.49. 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 released its earnings results on Wednesday, February 7th. The financial services provider reported $2.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.05. Prudential Financial had a net margin of 13.41% and a return on equity of 9.29%. The firm had revenue of $15.25 billion during the quarter, compared to the consensus estimate of $12.87 billion. During the same period in the previous year, the firm earned $2.46 earnings per share. equities analysts anticipate that Prudential Financial Inc will post 12.06 EPS for the current year.
Prudential Financial announced that its board has initiated a stock repurchase program on Thursday, December 14th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
The business also recently announced 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 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. The ex-dividend date is Tuesday, February 20th. Prudential Financial’s payout ratio is presently 32.00%.
In related news, EVP Timothy P. Harris sold 10,527 shares of the business’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 value 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 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 transaction of $1,934,971.17. Following the completion of 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 currently owned by insiders.
A number of brokerages have recently commented on PRU. Sandler O’Neill reiterated a “buy” rating and set a $134.00 price target on shares of Prudential Financial in a report on Thursday, January 11th. Atlantic Securities upgraded shares of Prudential Financial from a “neutral” rating to an “overweight” rating in a report on Thursday, January 11th. Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a report on Monday, January 8th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $127.00 price target on shares of Prudential Financial in a report on Thursday, December 21st. Finally, ValuEngine upgraded shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 5th. Six 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 stock. The stock presently has an average rating of “Buy” and an average price target of $118.38.
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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.
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