Livforsakringsbolaget Skandia Omsesidigt lowered its stake in Prudential Financial Inc (NYSE:PRU) by 12.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,158 shares of the financial services provider’s stock after selling 2,400 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Prudential Financial were worth $1,858,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the business. Douglas Lane & Associates LLC lifted its holdings in shares of Prudential Financial by 3.1% during the third quarter. Douglas Lane & Associates LLC now owns 647,412 shares of the financial services provider’s stock worth $68,833,000 after purchasing an additional 19,238 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Prudential Financial by 5.0% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 42,113 shares of the financial services provider’s stock worth $4,477,000 after purchasing an additional 1,990 shares during the period. APG Asset Management N.V. lifted its holdings in shares of Prudential Financial by 171.8% during the third quarter. APG Asset Management N.V. now owns 2,704,719 shares of the financial services provider’s stock worth $287,566,000 after purchasing an additional 1,709,699 shares during the period. Bank of Nova Scotia lifted its holdings in shares of Prudential Financial by 253.2% during the second quarter. Bank of Nova Scotia now owns 347,743 shares of the financial services provider’s stock worth $37,605,000 after purchasing an additional 249,277 shares during the period. Finally, Boston Advisors LLC lifted its holdings in shares of Prudential Financial by 0.8% during the third quarter. Boston Advisors LLC now owns 149,937 shares of the financial services provider’s stock worth $15,941,000 after purchasing an additional 1,195 shares during the period. Hedge funds and other institutional investors own 64.50% of the company’s stock.
In other Prudential Financial news, SVP Barbara Koster sold 16,801 shares of Prudential Financial stock in a transaction on 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 sale, the senior vice president now directly owns 37,327 shares of the company’s stock, valued at $4,298,950.59. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Nicholas C. Silitch sold 44,860 shares of Prudential Financial stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $111.77, for a total transaction of $5,014,002.20. Following the completion of the sale, the insider now directly owns 27,927 shares of the company’s stock, valued at $3,121,400.79. The disclosure for this sale can be found here. Insiders have sold 116,818 shares of company stock valued at $13,154,122 in the last three months. 0.66% of the stock is owned by insiders.
Prudential Financial Inc (NYSE PRU) opened at $124.13 on Friday. Prudential Financial Inc has a 52 week low of $97.88 and a 52 week high of $125.00. The firm has a market cap of $52,283.44, a price-to-earnings ratio of 11.91, a P/E/G ratio of 1.26 and a beta of 1.55. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.13 and a current ratio of 0.13.
Prudential Financial (NYSE:PRU) last announced its 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 business 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 earned $2.66 earnings per share. analysts expect that Prudential Financial Inc will post 10.49 EPS for the current fiscal year.
Prudential Financial announced that its board has authorized a stock repurchase plan on Thursday, December 14th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
A number of equities analysts have recently commented on the stock. Atlantic Securities upgraded shares of Prudential Financial from a “neutral” rating to an “overweight” rating in a report on Thursday, January 11th. Sandler O’Neill reiterated 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 reiterated a “buy” rating and set a $127.00 price target on shares of Prudential Financial in a report on Thursday, December 21st. Finally, ValuEngine upgraded shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 5th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $119.35.
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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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