Quadrature Capital Ltd cut its position in Prudential Financial Inc (NYSE:PRU) by 31.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 42,797 shares of the financial services provider’s stock after selling 19,953 shares during the quarter. Quadrature Capital Ltd’s holdings in Prudential Financial were worth $4,922,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Prudential Financial by 5.0% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 42,113 shares of the financial services provider’s stock worth $4,477,000 after acquiring an additional 1,990 shares during the period. Boston Advisors LLC raised its holdings in shares of Prudential Financial by 0.8% during the third quarter. Boston Advisors LLC now owns 149,937 shares of the financial services provider’s stock worth $15,941,000 after acquiring an additional 1,195 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Prudential Financial by 10.3% during the third quarter. Pacer Advisors Inc. now owns 10,836 shares of the financial services provider’s stock worth $1,152,000 after acquiring an additional 1,014 shares during the period. Korea Investment CORP raised its holdings in shares of Prudential Financial by 10.1% during the third quarter. Korea Investment CORP now owns 581,545 shares of the financial services provider’s stock worth $61,830,000 after acquiring an additional 53,300 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Prudential Financial during the third quarter worth $8,739,000. Institutional investors and hedge funds own 63.81% 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 value of $1,934,971.17. Following the completion of the transaction, the senior vice president now owns 37,327 shares of the company’s stock, valued at $4,298,950.59. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 68,057 shares of company stock valued at $7,574,855. 0.66% of the stock is owned by insiders.
A number of equities research analysts recently commented on the stock. Royal Bank of Canada upgraded shares of Prudential Financial from a “sector perform” rating to an “outperform” rating in a report on Monday, February 12th. They noted that the move was a valuation call. Deutsche Bank dropped their price objective on shares of Prudential Financial from $132.00 to $125.00 and set a “hold” rating on the stock in a report on Friday, February 9th. Wells Fargo & Co dropped their price objective on shares of Prudential Financial from $122.00 to $111.00 and set a “market perform” rating on the stock in a report on Friday, February 9th. Morgan Stanley dropped their price objective on shares of Prudential Financial from $133.00 to $131.00 and set an “equal weight” rating on the stock in a report on Thursday, February 8th. Finally, Sandler O’Neill restated a “buy” rating and set a $134.00 price objective on shares of Prudential Financial in a report on Thursday, January 11th. Six analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $118.38.
Prudential Financial Inc (NYSE PRU) opened at $108.98 on Friday. The firm has a market cap of $45,487.38, a price-to-earnings ratio of 6.08, a P/E/G ratio of 1.12 and a beta of 1.50. 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 current ratio of 0.13 and a quick ratio of 0.13.
Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, February 7th. The financial services provider reported $2.69 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.05. The business had revenue of $15.25 billion during 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 quarter last year, the firm earned $2.46 earnings per share. equities analysts forecast that Prudential Financial Inc will post 12.06 EPS for the current year.
Prudential Financial declared that its Board of Directors has approved a share repurchase plan on Thursday, December 14th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 21st will be given a $0.90 dividend. The ex-dividend date is Tuesday, February 20th. This represents a $3.60 dividend on an annualized basis and a yield of 3.30%. This is an increase from Prudential Financial’s previous quarterly dividend of $0.75. Prudential Financial’s dividend payout ratio (DPR) is 20.10%.
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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