Traders Buy Shares of Prudential Financial (PRU) on Weakness

Investors bought shares of Prudential Financial Inc (NYSE:PRU) on weakness during trading on Thursday. $66.92 million flowed into the stock on the tick-up and $47.00 million flowed out of the stock on the tick-down, for a money net flow of $19.92 million into the stock. Of all equities tracked, Prudential Financial had the 10th highest net in-flow for the day. Prudential Financial traded down ($1.54) for the day and closed at $109.73

A number of analysts recently weighed in on PRU shares. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $127.00 price objective on shares of Prudential Financial in a research note on Thursday, December 21st. ValuEngine lowered shares of Prudential Financial from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 10th. B. Riley reaffirmed a “buy” rating on shares of Prudential Financial in a research note on Monday, November 6th. Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $132.00 price objective for the company in a research note on Monday, January 8th. Finally, Sandler O’Neill reaffirmed a “buy” rating and issued a $134.00 price objective on shares of Prudential Financial in a research note on Thursday, January 11th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $119.14.

The firm has a market cap of $45,321.36, a PE ratio of 6.13, a P/E/G ratio of 1.11 and a beta of 1.50. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.13 and a current ratio of 0.13.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $2.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.64 by $0.05. The firm had revenue of $15.25 billion during 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 period last year, the firm posted $2.46 EPS. research analysts predict that Prudential Financial Inc will post 12.06 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 21st will be given a $0.90 dividend. This is a positive change from Prudential Financial’s previous quarterly dividend of $0.75. This represents a $3.60 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Tuesday, February 20th. Prudential Financial’s dividend payout ratio (DPR) is presently 16.75%.

Prudential Financial declared that its Board of Directors has approved a stock buyback 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 repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

In related news, EVP Timothy P. Harris sold 10,527 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $115.00, for a total value of $1,210,605.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Barbara Koster sold 16,801 shares of the stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now owns 37,327 shares in the company, valued at approximately $4,298,950.59. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Large investors have recently modified their holdings of the stock. Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of Prudential Financial during the 4th quarter worth approximately $105,000. Truewealth LLC acquired a new stake in shares of Prudential Financial during the 4th quarter worth approximately $105,000. Grove Bank & Trust grew 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 purchasing an additional 943 shares during the period. Virtue Capital Management LLC acquired a new stake in shares of Prudential Financial during the 4th quarter worth approximately $123,000. Finally, FTB Advisors Inc. grew its stake in shares of Prudential Financial by 232.2% during the 4th quarter. FTB Advisors Inc. now owns 1,073 shares of the financial services provider’s stock worth $124,000 after purchasing an additional 750 shares during the period. Institutional investors own 64.37% of the company’s stock.

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Prudential Financial Company 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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