Louisiana State Employees Retirement System decreased its stake in shares of Prudential Financial Inc (NYSE:PRU) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,700 shares of the financial services provider’s stock after selling 1,000 shares during the period. Louisiana State Employees Retirement System’s holdings in Prudential Financial were worth $2,955,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the company. Fieldpoint Private Securities LLC bought a new position in Prudential Financial in the second quarter valued at $103,000. Grove Bank & Trust grew its position in Prudential Financial by 507.0% in the third quarter. Grove Bank & Trust now owns 1,129 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 943 shares in the last quarter. Legacy Advisors LLC bought a new position in Prudential Financial in the third quarter valued at $129,000. Zions Bancorporation grew its position in Prudential Financial by 44.9% in the third quarter. Zions Bancorporation now owns 1,690 shares of the financial services provider’s stock valued at $180,000 after purchasing an additional 524 shares in the last quarter. Finally, Advisory Services Network LLC grew its position in Prudential Financial by 128.8% in the second quarter. Advisory Services Network LLC now owns 1,700 shares of the financial services provider’s stock valued at $184,000 after purchasing an additional 957 shares in the last quarter. 64.50% of the stock is owned by institutional investors.
Prudential Financial Inc (PRU) opened at $122.09 on Wednesday. Prudential Financial Inc has a 12-month low of $97.88 and a 12-month high of $125.00. The company has a market cap of $52,540.00, a PE ratio of 12.31, a PEG ratio of 1.29 and a beta of 1.55. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.13 and a quick ratio of 0.13.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.01 EPS for the quarter, beating 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 company had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $12.24 billion. During the same quarter last year, the firm posted $2.66 EPS. sell-side analysts expect that Prudential Financial Inc will post 10.49 earnings per share for the current year.
Prudential Financial announced that its board has initiated a share repurchase program on Thursday, December 14th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
A number of research firms recently weighed in on PRU. Wells Fargo & Co set a $122.00 target price on shares of Prudential Financial and gave the company a “hold” rating in a research report on Thursday, December 14th. Atlantic Securities raised shares of Prudential Financial from a “neutral” rating to an “overweight” rating in a research report on Thursday, January 11th. Morgan Stanley raised their target price on shares of Prudential Financial from $123.00 to $124.00 and gave the company an “equal weight” rating in a research report on Thursday, November 2nd. B. Riley reaffirmed a “buy” rating on shares of Prudential Financial in a research report on Monday, November 6th. Finally, Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a research report on Monday, January 8th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $119.35.
In other news, EVP Charles F. Lowrey sold 44,630 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $111.91, for a total transaction of $4,994,543.30. Following the completion of the sale, the executive vice president now owns 79,354 shares in the company, valued at approximately $8,880,506.14. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Barbara Koster sold 16,801 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $115.17, for a total transaction of $1,934,971.17. Following the sale, the senior vice president now owns 37,327 shares of the company’s stock, valued at approximately $4,298,950.59. The disclosure for this sale can be found here. In the last three months, insiders sold 116,818 shares of company stock valued at $13,154,122. Insiders own 0.66% of the company’s stock.
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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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