Teachers Advisors LLC boosted its holdings in Prudential Financial Inc (NYSE:PRU) by 10.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 905,826 shares of the financial services provider’s stock after purchasing an additional 86,447 shares during the quarter. Teachers Advisors LLC owned about 0.21% of Prudential Financial worth $104,152,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Steward Partners Investment Advisory LLC grew its holdings in Prudential Financial by 3.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 13,045 shares of the financial services provider’s stock worth $1,499,000 after purchasing an additional 433 shares during the period. Seaward Management Limited Partnership grew its holdings in shares of Prudential Financial by 1.1% during the fourth quarter. Seaward Management Limited Partnership now owns 42,653 shares of the financial services provider’s stock valued at $4,904,000 after buying an additional 450 shares during the last quarter. Cetera Advisor Networks LLC grew its holdings in shares of Prudential Financial by 10.2% during the fourth quarter. Cetera Advisor Networks LLC now owns 5,142 shares of the financial services provider’s stock valued at $586,000 after buying an additional 475 shares during the last quarter. Pinnacle Associates Ltd. grew its holdings in shares of Prudential Financial by 0.9% during the fourth quarter. Pinnacle Associates Ltd. now owns 52,269 shares of the financial services provider’s stock valued at $6,010,000 after buying an additional 483 shares during the last quarter. Finally, First Allied Advisory Services Inc. grew its holdings in shares of Prudential Financial by 4.5% during the third quarter. First Allied Advisory Services Inc. now owns 11,820 shares of the financial services provider’s stock valued at $1,253,000 after buying an additional 507 shares during the last quarter. Institutional investors and hedge funds own 66.79% of the company’s stock.
In related news, SVP Barbara Koster sold 16,801 shares of the firm’s stock in a transaction on 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 completion of the transaction, the senior vice president now directly owns 37,327 shares of the company’s stock, valued at $4,298,950.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen Pelletier sold 40,729 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $108.75, for a total transaction of $4,429,278.75. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.
Prudential Financial Inc (NYSE PRU) opened at $109.60 on Wednesday. The firm has a market cap of $46,373.58, a P/E ratio of 10.39, a price-to-earnings-growth ratio of 1.14 and a beta of 1.54. 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 current ratio of 0.13 and a quick ratio of 0.13.
Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $2.69 EPS for the quarter, beating the Thomson Reuters’ 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 net margin of 13.41% and a return on equity of 9.29%. During the same period last year, the firm earned $2.46 EPS. sell-side analysts predict that Prudential Financial Inc will post 12.06 EPS for the current fiscal year.
Prudential Financial declared that its board has authorized a stock buyback plan on Thursday, December 14th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
The company 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 represents a $3.60 annualized dividend and a dividend yield of 3.28%. This is an increase from Prudential Financial’s previous quarterly dividend of $0.75. The ex-dividend date is Tuesday, February 20th. Prudential Financial’s dividend payout ratio (DPR) is presently 20.10%.
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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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