Captrust Financial Advisors raised its holdings in shares of Prudential Financial Inc (NYSE:PRU) by 27.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,476 shares of the financial services provider’s stock after purchasing an additional 2,473 shares during the quarter. Captrust Financial Advisors’ holdings in Prudential Financial were worth $1,319,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Prudential Financial in the 4th quarter worth approximately $105,000. Truewealth LLC acquired a new position in shares of Prudential Financial in the 4th quarter worth approximately $105,000. Grove Bank & Trust grew its position in shares of Prudential Financial by 507.0% in the 3rd quarter. Grove Bank & Trust now owns 1,129 shares of the financial services provider’s stock worth $120,000 after acquiring an additional 943 shares in the last quarter. Virtue Capital Management LLC acquired a new position in shares of Prudential Financial in the 4th quarter worth approximately $123,000. Finally, FTB Advisors Inc. grew its position in shares of Prudential Financial by 232.2% in the 4th quarter. FTB Advisors Inc. now owns 1,073 shares of the financial services provider’s stock worth $124,000 after acquiring an additional 750 shares in the last quarter. Hedge funds and other institutional investors own 66.79% of the company’s stock.
In other Prudential Financial news, insider Stephen Pelletier sold 40,729 shares of Prudential Financial stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $108.75, for a total transaction of $4,429,278.75. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Barbara Koster sold 16,801 shares of Prudential Financial stock in a transaction 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 sale, the senior vice president now directly owns 37,327 shares in the company, valued at approximately $4,298,950.59. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.
Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, February 7th. The financial services provider reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.05. The firm had revenue of $15.25 billion for the quarter, compared to the consensus estimate of $12.87 billion. Prudential Financial had a return on equity of 9.29% and a net margin of 13.41%. During the same quarter in the previous year, the business earned $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 announced that its board has approved a share buyback program on Thursday, December 14th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 21st will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $3.60 annualized dividend and a yield of 3.28%. This is an increase from Prudential Financial’s previous quarterly dividend of $0.75. Prudential Financial’s payout ratio is presently 32.00%.
Several brokerages recently issued reports on PRU. 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. ValuEngine raised Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Wells Fargo & Co set a $122.00 price target on Prudential Financial and gave the stock a “hold” rating in a report on Thursday, December 14th. Zacks Investment Research downgraded Prudential Financial from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Finally, UBS Group raised Prudential Financial from a “neutral” rating to a “buy” rating in a report on Friday, March 2nd. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Prudential Financial currently has an average rating of “Buy” and an average target price of $118.45.
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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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