Zeke Capital Advisors LLC grew its stake in shares of Prudential Financial (NYSE:PRU) by 51.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,456 shares of the financial services provider’s stock after buying an additional 2,890 shares during the quarter. Zeke Capital Advisors LLC’s holdings in Prudential Financial were worth $972,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the business. Kovitz Investment Group Partners LLC bought a new stake in shares of Prudential Financial in the 4th quarter worth approximately $372,000. Clark Capital Management Group Inc. raised its holdings in shares of Prudential Financial by 3.5% in the 4th quarter. Clark Capital Management Group Inc. now owns 129,859 shares of the financial services provider’s stock worth $14,931,000 after purchasing an additional 4,336 shares in the last quarter. LPL Financial LLC raised its holdings in shares of Prudential Financial by 6.7% in the 4th quarter. LPL Financial LLC now owns 51,077 shares of the financial services provider’s stock worth $5,873,000 after purchasing an additional 3,222 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Prudential Financial by 45.5% in the 4th quarter. Millennium Management LLC now owns 1,818,479 shares of the financial services provider’s stock worth $209,089,000 after purchasing an additional 568,343 shares in the last quarter. Finally, Sciencast Management LP raised its holdings in shares of Prudential Financial by 102.4% in the 4th quarter. Sciencast Management LP now owns 15,084 shares of the financial services provider’s stock worth $1,860,000 after purchasing an additional 7,633 shares in the last quarter. Institutional investors own 66.76% of the company’s stock.
In related news, insider Stephen Pelletier sold 40,729 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $108.75, for a total transaction of $4,429,278.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.66% of the company’s stock.
PRU has been the topic of a number of research reports. Sandler O’Neill reiterated a “buy” rating and issued a $134.00 target price 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 target price on the stock in a report on Monday, January 8th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $127.00 target price 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 report on Friday, March 2nd. Finally, Bank of America initiated coverage on shares of Prudential Financial in a report on Monday, March 26th. They issued a “buy” rating and a $117.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. Prudential Financial has an average rating of “Hold” and an average target price of $119.25.
Shares of Prudential Financial stock traded down $2.58 during trading on Friday, hitting $102.33. The stock had a trading volume of 1,800,885 shares, compared to its average volume of 2,158,703. The company has a market cap of $43,183.26, a P/E ratio of 9.67, a price-to-earnings-growth ratio of 1.00 and a beta of 1.52. 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 has a 1 year low of $97.88 and a 1 year high of $127.14.
Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, February 7th. The financial services provider reported $2.69 earnings per share 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 net margin of 13.41% and a return on equity of 9.29%. During the same period last year, the firm posted $2.46 earnings per share. analysts expect that Prudential Financial will post 12.05 EPS for the current fiscal year.
Prudential Financial declared that its Board of Directors has approved a share buyback plan on Thursday, December 14th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Wednesday, February 21st were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Tuesday, February 20th. This is an increase from Prudential Financial’s previous quarterly dividend of $0.75. This represents a $3.60 dividend on an annualized basis and a yield of 3.52%. Prudential Financial’s payout ratio is presently 34.03%.
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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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