Sentinel Trust Co. LBA lowered its position in Prudential Financial Inc (NYSE:PRU) by 16.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 56,840 shares of the financial services provider’s stock after selling 10,875 shares during the period. Prudential Financial accounts for approximately 1.4% of Sentinel Trust Co. LBA’s portfolio, making the stock its 13th largest position. Sentinel Trust Co. LBA’s holdings in Prudential Financial were worth $6,536,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Truewealth LLC bought a new stake in Prudential Financial during the 4th quarter valued at $105,000. Pinnacle Wealth Planning Services Inc. purchased a new position in shares of Prudential Financial in the 4th quarter worth about $105,000. FTB Advisors Inc. lifted its holdings in Prudential Financial by 232.2% during the fourth quarter. FTB Advisors Inc. now owns 1,073 shares of the financial services provider’s stock valued at $124,000 after purchasing an additional 750 shares during the last quarter. Virtue Capital Management LLC purchased a new stake in Prudential Financial during the fourth quarter valued at about $123,000. Finally, Cerebellum GP LLC purchased a new stake in shares of Prudential Financial in the fourth quarter worth about $127,000. Hedge funds and other institutional investors own 66.75% of the company’s stock.
Prudential Financial stock traded down $2.99 on Thursday, reaching $105.89. The company had a trading volume of 410,852 shares, compared to its average volume of 2,234,390. The firm has a market cap of $45,955.80, a PE ratio of 5.93, a price-to-earnings-growth ratio of 1.13 and a beta of 1.54. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.13 and a quick ratio of 0.13. Prudential Financial Inc has a 1 year low of $97.88 and a 1 year high of $127.14.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $2.69 earnings per share (EPS) for the quarter, topping 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 company had revenue of $15.25 billion during the quarter, compared to the consensus estimate of $12.87 billion. During the same period in the previous year, the business earned $2.46 EPS. equities research analysts anticipate that Prudential Financial Inc will post 12.06 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Wednesday, February 21st were given a dividend of $0.90 per share. This is a boost from Prudential Financial’s previous quarterly dividend of $0.75. The ex-dividend date was Tuesday, February 20th. This represents a $3.60 annualized dividend and a yield of 3.40%. Prudential Financial’s payout ratio is presently 20.10%.
Prudential Financial announced that its Board of Directors has initiated a stock repurchase 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. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
A number of research analysts have commented on PRU shares. Atlantic Securities upgraded shares of Prudential Financial from a “neutral” rating to an “overweight” rating in a research report on Thursday, January 11th. Sandler O’Neill reaffirmed a “buy” rating and issued a $134.00 price target on shares of Prudential Financial in a research note on Thursday, January 11th. Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $132.00 price objective for the company in a research report on Monday, January 8th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $127.00 price target on shares of Prudential Financial in a report on Thursday, December 21st. Finally, ValuEngine raised Prudential Financial from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Prudential Financial has an average rating of “Buy” and an average target price of $118.45.
In related news, SVP Barbara Koster sold 16,801 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $115.17, for a total value of $1,934,971.17. Following the sale, the senior vice president now owns 37,327 shares of the company’s stock, valued at approximately $4,298,950.59. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Stephen Pelletier sold 40,729 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $108.75, for a total value of $4,429,278.75. The disclosure for this sale can be found here. Insiders own 0.66% 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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