Suntrust Banks Inc. Has $5.15 Million Stake in Prudential Financial Inc (PRU)

Suntrust Banks Inc. lifted its stake in shares of Prudential Financial Inc (NYSE:PRU) by 7.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,844 shares of the financial services provider’s stock after purchasing an additional 3,145 shares during the quarter. Suntrust Banks Inc.’s holdings in Prudential Financial were worth $5,154,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. FTB Advisors Inc. raised its stake 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 worth $124,000 after purchasing an additional 750 shares during the last quarter. Cerebellum GP LLC purchased a new stake in shares of Prudential Financial during the fourth quarter worth approximately $127,000. Grove Bank & Trust raised its stake 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 worth $120,000 after purchasing an additional 943 shares during the last quarter. Legacy Advisors LLC purchased a new position in Prudential Financial in the third quarter worth $129,000. Finally, Community Bank N.A. raised its position in Prudential Financial by 269.7% in the fourth quarter. Community Bank N.A. now owns 1,353 shares of the financial services provider’s stock worth $156,000 after acquiring an additional 987 shares in the last quarter. Institutional investors and hedge funds own 63.81% of the company’s stock.

In other news, EVP Timothy P. Harris sold 10,527 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $115.00, for a total value of $1,210,605.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen Pelletier sold 40,729 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $108.75, for a total value of $4,429,278.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 68,057 shares of company stock valued at $7,574,855. Company insiders own 0.66% of the company’s stock.

Several research firms have issued reports on PRU. Sandler O’Neill reiterated a “buy” rating and issued a $134.00 price objective 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 objective for the company in a research report on Monday, January 8th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $127.00 price objective 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 analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $118.45.

Prudential Financial Inc (NYSE PRU) opened at $108.98 on Friday. Prudential Financial Inc has a 52-week low of $97.88 and a 52-week high of $127.14. The firm has a market capitalization of $45,989.56, a price-to-earnings ratio of 10.30, a PEG ratio of 1.13 and a beta of 1.50. 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 for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $12.87 billion. During the same quarter last year, the business posted $2.46 earnings per share. sell-side analysts forecast that Prudential Financial Inc will post 12.06 EPS for the current year.

Prudential Financial declared that its Board of Directors has authorized a share repurchase plan on Thursday, December 14th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders 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 dividend yield of 3.30%. This is a boost from Prudential Financial’s previous quarterly dividend of $0.75. Prudential Financial’s dividend payout ratio (DPR) is currently 20.10%.

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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.

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

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