Traders Buy Prudential Financial (PRU) on Weakness

Traders purchased shares of Prudential Financial Inc (NYSE:PRU) on weakness during trading hours on Monday. $103.36 million flowed into the stock on the tick-up and $55.36 million flowed out of the stock on the tick-down, for a money net flow of $48.00 million into the stock. Of all companies tracked, Prudential Financial had the 13th highest net in-flow for the day. Prudential Financial traded down ($0.30) for the day and closed at $109.43

Several equities analysts recently issued reports on the company. ValuEngine raised Prudential Financial from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 5th. Royal Bank of Canada raised Prudential Financial from a “sector perform” rating to an “outperform” rating in a research note on Monday, February 12th. They noted that the move was a valuation call. B. Riley reissued a “buy” rating on shares of Prudential Financial in a research note on Monday, November 6th. Sandler O’Neill reissued a “buy” rating and set a $134.00 target price on shares of Prudential Financial in a research note on Thursday, January 11th. Finally, Morgan Stanley decreased their target price on Prudential Financial from $133.00 to $131.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 8th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $119.14.

The company has a debt-to-equity ratio of 0.32, a current ratio of 0.13 and a quick ratio of 0.13. The stock has a market cap of $46,400.00, a price-to-earnings ratio of 6.13, a price-to-earnings-growth ratio of 1.13 and a beta of 1.49.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $2.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.64 by $0.05. Prudential Financial had a return on equity of 9.29% and a net margin of 13.41%. The company had revenue of $15.25 billion for the quarter, compared to the consensus estimate of $12.87 billion. During the same quarter in the prior year, the business earned $2.46 EPS. equities analysts expect that Prudential Financial Inc will post 12.06 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 21st will be issued a $0.90 dividend. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.29%. This is an increase from Prudential Financial’s previous quarterly dividend of $0.75. Prudential Financial’s dividend payout ratio is presently 16.80%.

Prudential Financial declared that its board has approved a share repurchase plan on Thursday, December 14th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

In other news, EVP Timothy P. Harris sold 10,527 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $115.00, for a total value of $1,210,605.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Barbara Koster sold 16,801 shares of the 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 owns 37,327 shares in the company, valued at approximately $4,298,950.59. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC grew its stake in Prudential Financial by 3.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 13,045 shares of the financial services provider’s stock worth $1,499,000 after buying an additional 433 shares during the last quarter. Seaward Management Limited Partnership grew its stake in Prudential Financial by 1.1% during the 4th quarter. Seaward Management Limited Partnership now owns 42,653 shares of the financial services provider’s stock worth $4,904,000 after buying an additional 450 shares during the last quarter. Cetera Advisor Networks LLC grew its stake in Prudential Financial by 10.2% during the 4th quarter. Cetera Advisor Networks LLC now owns 5,142 shares of the financial services provider’s stock worth $586,000 after buying an additional 475 shares during the last quarter. Pinnacle Associates Ltd. grew its stake in Prudential Financial by 0.9% during the 4th quarter. Pinnacle Associates Ltd. now owns 52,269 shares of the financial services provider’s stock worth $6,010,000 after buying an additional 483 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. grew its stake in Prudential Financial by 2.0% during the 3rd quarter. Hussman Strategic Advisors Inc. now owns 25,500 shares of the financial services provider’s stock worth $2,711,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 63.81% 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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