Dalton Greiner Hartman Maher & Co. lessened its stake in Prudential Financial Inc (NYSE:PRU) by 9.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 218,770 shares of the financial services provider’s stock after selling 21,886 shares during the period. Prudential Financial accounts for about 1.3% of Dalton Greiner Hartman Maher & Co.’s holdings, making the stock its 13th biggest position. Dalton Greiner Hartman Maher & Co. owned approximately 0.05% of Prudential Financial worth $25,154,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently modified their holdings of the stock. Fieldpoint Private Securities LLC purchased a new stake in Prudential Financial in the 2nd quarter valued at approximately $103,000. Grove Bank & Trust boosted its stake in shares of Prudential Financial by 507.0% during the 3rd quarter. Grove Bank & Trust now owns 1,129 shares of the financial services provider’s stock worth $120,000 after acquiring an additional 943 shares in the last quarter. Legacy Advisors LLC purchased a new stake in shares of Prudential Financial during the 3rd quarter worth approximately $129,000. Zions Bancorporation boosted its stake in shares of Prudential Financial by 44.9% during the 3rd quarter. Zions Bancorporation now owns 1,690 shares of the financial services provider’s stock worth $180,000 after acquiring an additional 524 shares in the last quarter. Finally, Advisory Services Network LLC boosted its stake in shares of Prudential Financial by 128.8% during the 2nd quarter. Advisory Services Network LLC now owns 1,700 shares of the financial services provider’s stock worth $184,000 after acquiring an additional 957 shares in the last quarter. Hedge funds and other institutional investors own 64.50% of the company’s stock.
Shares of Prudential Financial Inc (NYSE PRU) traded down $2.03 during trading on Wednesday, reaching $122.09. 1,962,100 shares of the company were exchanged, compared to its average volume of 1,901,190. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.34. Prudential Financial Inc has a 12-month low of $97.88 and a 12-month high of $125.00. The stock has a market cap of $52,900.00, a PE ratio of 12.31, a price-to-earnings-growth ratio of 1.29 and a beta of 1.55.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.30. Prudential Financial had a net margin of 7.71% and a return on equity of 9.51%. The firm had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $12.24 billion. During the same period in the prior year, the company earned $2.66 EPS. analysts predict that Prudential Financial Inc will post 10.49 earnings per share for the current year.
Prudential Financial declared that its Board of Directors has approved a stock repurchase program 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 reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
In other Prudential Financial news, SVP Barbara Koster sold 16,801 shares of the company’s stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 37,327 shares of the company’s stock, valued at approximately $4,298,950.59. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Nicholas C. Silitch sold 44,860 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $111.77, for a total transaction of $5,014,002.20. Following the transaction, the insider now directly owns 27,927 shares in the company, valued at approximately $3,121,400.79. The disclosure for this sale can be found here. Over the last three months, insiders sold 116,818 shares of company stock valued at $13,154,122. 0.66% of the stock is currently owned by corporate insiders.
PRU has been the topic of several research analyst reports. Morgan Stanley boosted their price target on Prudential Financial from $118.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 5th. FBR & Co upgraded Prudential Financial from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $117.00 to $100.00 in a research report on Tuesday, October 10th. Zacks Investment Research upgraded Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 price objective for the company in a research report on Tuesday, October 10th. Keefe, Bruyette & Woods restated a “buy” rating and set a $121.00 price objective on shares of Prudential Financial in a research report on Monday, October 16th. Finally, Citigroup upgraded Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 price target for the company in a report on Tuesday, October 17th. Seven investment 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 company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $119.35.
About Prudential Financial
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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