Sciencast Management LP lifted its stake in Prudential Financial Inc (NYSE:PRU) by 102.4% in the 4th quarter, Holdings Channel reports. The firm owned 15,084 shares of the financial services provider’s stock after buying an additional 7,633 shares during the quarter. Prudential Financial makes up 1.0% of Sciencast Management LP’s holdings, making the stock its largest holding. Sciencast Management LP’s holdings in Prudential Financial were worth $1,860,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. increased its holdings in Prudential Financial by 4.8% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 30,338 shares of the financial services provider’s stock worth $3,489,000 after buying an additional 1,378 shares in the last quarter. Cornerstone Capital Management Holdings LLC. increased its holdings in Prudential Financial by 248.0% in the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 338,415 shares of the financial services provider’s stock worth $38,910,000 after buying an additional 241,164 shares in the last quarter. TIAA CREF Investment Management LLC increased its holdings in Prudential Financial by 0.7% in the 4th quarter. TIAA CREF Investment Management LLC now owns 1,172,975 shares of the financial services provider’s stock worth $134,869,000 after buying an additional 8,124 shares in the last quarter. Teachers Advisors LLC increased its holdings in Prudential Financial by 10.6% in the 4th quarter. Teachers Advisors LLC now owns 905,826 shares of the financial services provider’s stock worth $104,152,000 after buying an additional 86,447 shares in the last quarter. Finally, Captrust Financial Advisors increased its holdings in Prudential Financial by 27.5% in the 4th quarter. Captrust Financial Advisors now owns 11,476 shares of the financial services provider’s stock worth $1,319,000 after buying an additional 2,473 shares in the last quarter. 66.79% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Stephen Pelletier sold 40,729 shares of Prudential Financial stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $108.75, for a total transaction of $4,429,278.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Barbara Koster sold 16,801 shares of Prudential Financial 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 transaction, the senior vice president now directly owns 37,327 shares in the company, valued at $4,298,950.59. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.
Shares of Prudential Financial Inc (PRU) opened at $109.89 on Tuesday. Prudential Financial Inc has a 52 week low of $97.88 and a 52 week high of $127.14. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.13 and a current ratio of 0.13. The stock has a market capitalization of $46,546.60, a PE ratio of 6.14, a price-to-earnings-growth ratio of 1.14 and a beta of 1.54.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $2.69 earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $15.25 billion for the quarter, compared to analysts’ expectations of $12.87 billion. During the same period in the previous year, the firm earned $2.46 EPS. equities research analysts anticipate that Prudential Financial Inc will post 12.06 earnings per share for the current year.
Prudential Financial declared that its board has authorized a share buyback plan on Thursday, December 14th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 21st will be given a dividend of $0.90 per share. This is a boost from Prudential Financial’s previous quarterly dividend of $0.75. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Tuesday, February 20th. Prudential Financial’s payout ratio is presently 20.10%.
Several research firms recently commented on PRU. Zacks Investment Research downgraded Prudential Financial from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. UBS Group upgraded Prudential Financial from a “neutral” rating to a “buy” rating in a research note on Friday, March 2nd. Keefe, Bruyette & Woods restated a “buy” rating and set a $128.00 price target on shares of Prudential Financial in a research note on Friday, February 23rd. Royal Bank of Canada upgraded 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. Finally, Deutsche Bank cut their price target on Prudential Financial from $132.00 to $125.00 and set a “hold” rating for the company in a research note on Friday, February 9th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $118.45.
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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