CrestPoint Capital Management LLC Has $609,000 Holdings in Prudential Financial Inc (PRU)

CrestPoint Capital Management LLC lowered its position in shares of Prudential Financial Inc (NYSE:PRU) by 30.3% during the 4th quarter, HoldingsChannel reports. The firm owned 5,300 shares of the financial services provider’s stock after selling 2,300 shares during the period. CrestPoint Capital Management LLC’s holdings in Prudential Financial were worth $609,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Green Square Capital LLC lifted its holdings in Prudential Financial by 0.3% during the second quarter. Green Square Capital LLC now owns 2,065 shares of the financial services provider’s stock valued at $223,000 after purchasing an additional 7 shares in the last quarter. Security National Bank of SO Dak lifted its holdings in Prudential Financial by 3.3% during the second quarter. Security National Bank of SO Dak now owns 4,539 shares of the financial services provider’s stock valued at $491,000 after purchasing an additional 145 shares in the last quarter. Horizon Investment Services LLC lifted its holdings in Prudential Financial by 9.8% during the second quarter. Horizon Investment Services LLC now owns 2,199 shares of the financial services provider’s stock valued at $238,000 after purchasing an additional 196 shares in the last quarter. Wealthfront Inc. lifted its holdings in Prudential Financial by 1.8% during the second quarter. Wealthfront Inc. now owns 11,447 shares of the financial services provider’s stock valued at $1,238,000 after purchasing an additional 205 shares in the last quarter. Finally, Afam Capital Inc. lifted its holdings in Prudential Financial by 0.3% during the second quarter. Afam Capital Inc. now owns 87,423 shares of the financial services provider’s stock valued at $9,454,000 after purchasing an additional 247 shares in the last quarter. 64.50% of the stock is currently owned by institutional investors and hedge funds.

Shares of Prudential Financial Inc (NYSE PRU) traded down $2.03 on Wednesday, reaching $122.09. 1,962,100 shares of the company traded hands, compared to its average volume of 1,901,190. Prudential Financial Inc has a 12 month low of $97.88 and a 12 month high of $125.00. The company has a market capitalization of $52,890.00, a PE ratio of 12.31, a PEG ratio of 1.29 and a beta of 1.55. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.13 and a quick ratio of 0.13.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.30. Prudential Financial had a net margin of 7.71% and a return on equity of 9.51%. The company had revenue of $13.36 billion for the quarter, compared to analysts’ expectations of $12.24 billion. During the same quarter in the previous year, the business posted $2.66 earnings per share. analysts anticipate that Prudential Financial Inc will post 10.49 earnings per share for the current year.

Prudential Financial declared that its board has authorized a share buyback plan on Thursday, December 14th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

In other Prudential Financial news, SVP Barbara Koster sold 16,801 shares of the business’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 transaction, the senior vice president now owns 37,327 shares in the company, valued at $4,298,950.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Charles F. Lowrey sold 44,630 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $111.91, for a total transaction of $4,994,543.30. Following the transaction, the executive vice president now owns 79,354 shares in the company, valued at approximately $8,880,506.14. The disclosure for this sale can be found here. Insiders sold 116,818 shares of company stock worth $13,154,122 in the last 90 days. 0.66% of the stock is currently owned by company insiders.

PRU has been the topic of several research analyst reports. Citigroup raised shares of Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 target price on the stock in a report on Tuesday, October 17th. Morgan Stanley boosted their target price on shares of Prudential Financial from $118.00 to $123.00 and gave the stock an “equal weight” rating in a report on Thursday, October 5th. Royal Bank of Canada reissued a “hold” rating and issued a $119.00 target price on shares of Prudential Financial in a report on Friday, November 3rd. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $127.00 target price on shares of Prudential Financial in a report on Thursday, December 21st. Finally, Sandler O’Neill reissued a “buy” rating and issued a $134.00 target price on shares of Prudential Financial in a report on Thursday, January 11th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $119.35.

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About Prudential Financial

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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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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