Vestpro Financial Partners Inc. dba CPF Texas acquired a new stake in shares of Prudential Financial Inc (NYSE:PRU) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 1,360 shares of the financial services provider’s stock, valued at approximately $156,000.
Several other large investors have also bought and sold shares of the company. Shell Asset Management Co. boosted its position in shares of Prudential Financial by 72.2% during the 4th quarter. Shell Asset Management Co. now owns 136,958 shares of the financial services provider’s stock valued at $15,747,000 after purchasing an additional 57,435 shares in the last quarter. Eagle Asset Management Inc. boosted its position in shares of Prudential Financial by 26.2% during the 4th quarter. Eagle Asset Management Inc. now owns 44,744 shares of the financial services provider’s stock valued at $4,985,000 after purchasing an additional 9,277 shares in the last quarter. Pinebridge Investments L.P. lifted its stake in Prudential Financial by 1,595.9% during the fourth quarter. Pinebridge Investments L.P. now owns 144,826 shares of the financial services provider’s stock valued at $16,652,000 after buying an additional 136,286 shares in the last quarter. Squar Milner Financial Services LLC purchased a new stake in Prudential Financial during the fourth quarter valued at about $235,000. Finally, Chartwell Investment Partners LLC lifted its stake in Prudential Financial by 20.0% during the fourth quarter. Chartwell Investment Partners LLC now owns 30,000 shares of the financial services provider’s stock valued at $3,449,000 after buying an additional 5,000 shares in the last quarter. Institutional investors own 64.37% of the company’s stock.
PRU has been the subject of a number of analyst reports. 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. B. Riley reaffirmed a “buy” rating on shares of Prudential Financial in a research note on Monday, November 6th. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Prudential Financial in a research note on Friday, November 10th. ValuEngine lowered shares of Prudential Financial from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 10th. Finally, Sandler O’Neill reaffirmed a “buy” rating and set 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 given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $119.14.
Shares of Prudential Financial Inc (NYSE PRU) opened at $109.43 on Friday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.32. The stock has a market cap of $46,398.32, a P/E ratio of 10.34, a PEG ratio of 1.13 and a beta of 1.50. Prudential Financial Inc has a 52-week low of $97.88 and a 52-week high of $127.14.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $2.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.05. The business 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 in the prior year, the firm earned $2.46 earnings per share. research analysts anticipate that Prudential Financial Inc will post 12.06 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 21st will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.29%. This is a positive change from Prudential Financial’s previous quarterly dividend of $0.75. The ex-dividend date is Tuesday, February 20th. Prudential Financial’s dividend payout ratio is 16.75%.
Prudential Financial declared that its Board of Directors has authorized a stock repurchase plan on Thursday, December 14th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
In other news, SVP Barbara Koster sold 16,801 shares of the stock in a transaction that occurred 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 Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy P. Harris sold 10,527 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $115.00, for a total transaction of $1,210,605.00. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.
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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