Whittier Trust Co. of Nevada Inc. lifted its position in Prudential Financial Inc (NYSE:PRU) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,504 shares of the financial services provider’s stock after purchasing an additional 815 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Prudential Financial were worth $2,127,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Grove Bank & Trust raised its stake in Prudential Financial by 507.0% in the third quarter. Grove Bank & Trust now owns 1,129 shares of the financial services provider’s stock worth $120,000 after buying an additional 943 shares in the last quarter. FTB Advisors Inc. raised its stake in Prudential Financial by 232.2% in the fourth quarter. FTB Advisors Inc. now owns 1,073 shares of the financial services provider’s stock worth $124,000 after buying an additional 750 shares in the last quarter. Cerebellum GP LLC acquired a new position in shares of Prudential Financial during the fourth quarter worth $127,000. Legacy Advisors LLC acquired a new position in shares of Prudential Financial during the third quarter worth $129,000. Finally, Community Bank N.A. increased its position in shares of Prudential Financial by 269.7% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 63.81% of the company’s stock.
Prudential Financial Inc (NYSE PRU) traded down $0.30 during mid-day trading on Monday, reaching $109.43. 2,520,400 shares of the company’s stock were exchanged, compared to its average volume of 2,329,773. The firm has a market cap of $46,400.00, a P/E ratio of 6.13, a price-to-earnings-growth ratio of 1.13 and a beta of 1.49. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial Inc has a 12 month low of $97.88 and a 12 month high of $127.14.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 21st will be given a dividend of $0.90 per share. The ex-dividend date is Tuesday, February 20th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.29%. This is a boost from Prudential Financial’s previous quarterly dividend of $0.75. Prudential Financial’s dividend payout ratio (DPR) is presently 16.80%.
Prudential Financial declared that its board has authorized a share 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 buy shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
A number of brokerages have recently issued reports on PRU. Royal Bank of Canada raised Prudential Financial from a “sector perform” rating to an “outperform” rating in a research report on Monday, February 12th. They noted that the move was a valuation call. Deutsche Bank reduced their price target on Prudential Financial from $132.00 to $125.00 and set a “hold” rating on the stock in a research report on Friday, February 9th. Wells Fargo & Co reduced their price target on Prudential Financial from $122.00 to $111.00 and set a “market perform” rating on the stock in a research report on Friday, February 9th. Morgan Stanley cut their target price on Prudential Financial from $133.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 8th. Finally, Sandler O’Neill reissued a “buy” rating and issued a $134.00 target price on shares of Prudential Financial in a research report on Thursday, January 11th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $119.14.
In related news, SVP Barbara Koster sold 16,801 shares of the stock in a transaction that occurred 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 owns 37,327 shares of the company’s stock, valued at approximately $4,298,950.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy P. Harris sold 10,527 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.
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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