Keybank National Association OH reduced its holdings in Prudential Financial Inc (NYSE:PRU) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 94,477 shares of the financial services provider’s stock after selling 4,302 shares during the quarter. Keybank National Association OH’s holdings in Prudential Financial were worth $10,863,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of PRU. Dynamic Technology Lab Private Ltd increased its holdings in Prudential Financial by 21.7% in the second quarter. Dynamic Technology Lab Private Ltd now owns 4,962 shares of the financial services provider’s stock worth $536,000 after purchasing an additional 885 shares in the last quarter. Advisory Services Network LLC increased its holdings in Prudential Financial by 128.8% in the second quarter. Advisory Services Network LLC now owns 1,700 shares of the financial services provider’s stock worth $184,000 after purchasing an additional 957 shares in the last quarter. Achmea Investment Management B.V. increased its holdings in Prudential Financial by 22.4% in the second quarter. Achmea Investment Management B.V. now owns 69,821 shares of the financial services provider’s stock worth $7,548,000 after purchasing an additional 12,759 shares in the last quarter. Intl Fcstone Inc. bought a new stake in Prudential Financial in the second quarter worth approximately $247,000. Finally, Eqis Capital Management Inc. bought a new stake in Prudential Financial in the third quarter worth approximately $535,000. Institutional investors and hedge funds own 64.37% of the company’s stock.
In related news, EVP Timothy P. Harris sold 10,527 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $115.00, for a total transaction of $1,210,605.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Barbara Koster sold 16,801 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.
Shares of Prudential Financial Inc (PRU) opened at $109.73 on Friday. The company has a market capitalization of $47,178.48, a P/E ratio of 6.13, a PEG ratio of 1.15 and a beta of 1.50. Prudential Financial Inc has a 1-year low of $97.88 and a 1-year high of $127.14. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.32.
Prudential Financial (NYSE:PRU) last released 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 during 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 company posted $2.46 earnings per share. sell-side analysts expect that Prudential Financial Inc will post 12.06 EPS for the current year.
Prudential Financial announced that its Board of Directors has initiated a stock buyback program on Thursday, December 14th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 21st will be issued 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 dividend payout ratio is 16.75%.
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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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