Capital Growth Management LP Sells 515,000 Shares of Prudential Financial Inc (PRU)

Capital Growth Management LP reduced its stake in Prudential Financial Inc (NYSE:PRU) by 97.2% during the 4th quarter, Holdings Channel reports. The firm owned 15,000 shares of the financial services provider’s stock after selling 515,000 shares during the period. Capital Growth Management LP’s holdings in Prudential Financial were worth $1,725,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of PRU. Grove Bank & Trust boosted 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 purchasing an additional 943 shares during the last quarter. FTB Advisors Inc. boosted 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 purchasing an additional 750 shares during the last quarter. Cerebellum GP LLC bought a new position in shares of Prudential Financial in the 4th quarter worth $127,000. Legacy Advisors LLC bought a new position in shares of Prudential Financial in the 3rd quarter worth $129,000. Finally, Community Bank N.A. boosted its position in shares of Prudential Financial by 269.7% in the 4th quarter. Community Bank N.A. now owns 1,353 shares of the financial services provider’s stock worth $156,000 after purchasing an additional 987 shares during the last quarter. Institutional investors and hedge funds own 64.37% of the company’s stock.

In other Prudential Financial news, SVP Barbara Koster sold 16,801 shares of Prudential Financial stock in a transaction dated 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy P. Harris sold 10,527 shares of Prudential Financial stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $115.00, for a total value of $1,210,605.00. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

PRU has been the topic of several recent research reports. Zacks Investment Research upgraded Prudential Financial from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a research report on Monday, January 8th. B. Riley restated a “buy” rating on shares of Prudential Financial in a research report on Monday, November 6th. Keefe, Bruyette & Woods restated a “buy” rating on shares of Prudential Financial in a research report on Friday, November 10th. ValuEngine lowered Prudential Financial from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 10th. Finally, Sandler O’Neill reiterated a “buy” rating and set a $134.00 target price on shares of Prudential Financial in a report on Thursday, January 11th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $119.14.

Prudential Financial Inc (NYSE PRU) opened at $109.43 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.13 and a current ratio of 0.13. The firm has a market capitalization of $46,400.00, a PE ratio of 6.13, a price-to-earnings-growth ratio of 1.13 and a beta of 1.49. Prudential Financial Inc has a twelve month low of $97.88 and a twelve month high of $127.14.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, February 7th. The financial services provider reported $2.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.64 by $0.05. The firm had revenue of $15.25 billion for the quarter, compared to analyst estimates of $12.87 billion. Prudential Financial had a return on equity of 9.29% and a net margin of 13.41%. During the same period in the previous year, the company posted $2.46 earnings per share. equities analysts predict that Prudential Financial Inc will post 12.06 EPS for the current year.

Prudential Financial announced that its board has initiated a stock buyback plan 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 plans are often a sign that the company’s board of directors believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 21st will be paid a $0.90 dividend. This is an increase from Prudential Financial’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $3.60 annualized dividend and a dividend yield of 3.29%. Prudential Financial’s dividend payout ratio (DPR) is currently 16.80%.

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

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