All Terrain Financial Advisors LLC purchased a new position in shares of Prudential Financial (NYSE:PRU) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,013 shares of the financial services provider’s stock, valued at approximately $1,036,000.
Several other large investors have also modified their holdings of PRU. Truewealth LLC bought a new stake in Prudential Financial in the fourth quarter valued at $105,000. Pinnacle Wealth Planning Services Inc. bought a new stake in Prudential Financial in the fourth quarter valued at $105,000. FTB Advisors Inc. increased 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 worth $124,000 after acquiring an additional 750 shares in the last quarter. Virtue Capital Management LLC bought a new stake in shares of Prudential Financial during the fourth quarter worth about $123,000. Finally, Cerebellum GP LLC bought a new stake in shares of Prudential Financial during the fourth quarter worth about $127,000. Institutional investors own 66.76% of the company’s stock.
Several research firms recently weighed in on PRU. Sandler O’Neill restated a “buy” rating and set a $134.00 price target on shares of Prudential Financial 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 on the stock in a report on Monday, January 8th. Keefe, Bruyette & Woods restated a “buy” rating and set a $127.00 price target on shares of Prudential Financial in a report on Thursday, December 21st. UBS upgraded shares of Prudential Financial from a “neutral” rating to a “buy” rating in a research note on Friday, March 2nd. Finally, Bank of America initiated coverage on shares of Prudential Financial in a research note on Monday, March 26th. They issued a “buy” rating and a $117.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $119.25.
In other news, insider Stephen Pelletier sold 40,729 shares of the 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.66% of the company’s stock.
Prudential Financial stock traded down $2.58 during midday trading on Friday, reaching $102.33. 1,800,885 shares of the stock were exchanged, compared to its average volume of 2,158,703. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $44,272.02, a PE ratio of 9.67, a price-to-earnings-growth ratio of 1.02 and a beta of 1.52. Prudential Financial has a 52 week low of $97.88 and a 52 week high of $127.14.
Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, February 7th. The financial services provider reported $2.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.64 by $0.05. The business had revenue of $15.25 billion for the quarter, compared to analyst estimates 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 in the prior year, the firm posted $2.46 EPS. research analysts forecast that Prudential Financial will post 12.05 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Wednesday, February 21st were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend was Tuesday, February 20th. This is a positive change from Prudential Financial’s previous quarterly dividend of $0.75. Prudential Financial’s dividend payout ratio is 34.03%.
Prudential Financial declared that its Board of Directors has approved a share buyback program on Thursday, December 14th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
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Prudential Financial Profile
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through U.S. Individual Solutions, U.S. Workplace Solutions, Investment Management, and International Insurance divisions.
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