Sciencast Management LP grew its stake in shares of Prudential Financial Inc (NYSE:PRU) by 102.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,084 shares of the financial services provider’s stock after acquiring an additional 7,633 shares during the period. Prudential Financial comprises 1.0% of Sciencast Management LP’s investment portfolio, making the stock its biggest position. Sciencast Management LP’s holdings in Prudential Financial were worth $1,860,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently added to or reduced their stakes in PRU. Ladenburg Thalmann Financial Services Inc. lifted its stake 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 purchasing an additional 1,378 shares in the last quarter. Cornerstone Capital Management Holdings LLC. lifted its stake 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 purchasing an additional 241,164 shares in the last quarter. TIAA CREF Investment Management LLC lifted its stake 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 purchasing an additional 8,124 shares in the last quarter. Teachers Advisors LLC lifted its stake 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 purchasing an additional 86,447 shares in the last quarter. Finally, Captrust Financial Advisors lifted its stake 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 purchasing an additional 2,473 shares in the last quarter. 66.75% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Stephen Pelletier sold 40,729 shares of Prudential Financial stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $108.75, for a total transaction of $4,429,278.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $1,934,971.17. Following the transaction, the senior vice president now directly owns 37,327 shares of the company’s stock, valued at $4,298,950.59. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.
A number of equities analysts have recently commented on the stock. Atlantic Securities raised shares of Prudential Financial from a “neutral” rating to an “overweight” rating in a report on Thursday, January 11th. Sandler O’Neill reissued a “buy” rating and issued a $134.00 price target on shares of Prudential Financial in a report on Thursday, January 11th. Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a report on Monday, January 8th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $127.00 target price on shares of Prudential Financial in a report on Thursday, December 21st. Finally, ValuEngine raised shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $118.45.
Prudential Financial Inc (NYSE PRU) traded up $1.24 during trading hours on Tuesday, hitting $108.96. 1,094,113 shares of the stock traded hands, compared to its average volume of 2,264,970. Prudential Financial Inc has a 12-month low of $97.88 and a 12-month 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 cap of $45,850.30, a PE ratio of 6.08, a price-to-earnings-growth ratio of 1.13 and a beta of 1.54.
Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, February 7th. The financial services provider reported $2.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.64 by $0.05. Prudential Financial had a net margin of 13.41% and a return on equity of 9.29%. The firm had revenue of $15.25 billion during the quarter, compared to analysts’ expectations of $12.87 billion. During the same period last year, the company posted $2.46 EPS. equities research analysts expect that Prudential Financial Inc will post 12.06 earnings per share for the current fiscal year.
Prudential Financial declared that its Board of Directors has initiated a share repurchase plan on Thursday, December 14th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Wednesday, February 21st were given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 3.30%. This is a boost from Prudential Financial’s previous quarterly dividend of $0.75. The ex-dividend date was Tuesday, February 20th. Prudential Financial’s dividend payout ratio (DPR) is currently 20.10%.
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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