Alliancebernstein L.P. decreased its position in shares of Prudential Financial (NYSE:PRU) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 750,465 shares of the financial services provider’s stock after selling 26,837 shares during the period. Alliancebernstein L.P. owned 0.18% of Prudential Financial worth $86,288,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. Delpha Capital Management LLC bought a new position in shares of Prudential Financial in the fourth quarter valued at $408,000. Lombard Odier Asset Management Switzerland SA increased its holdings in shares of Prudential Financial by 401.9% in the fourth quarter. Lombard Odier Asset Management Switzerland SA now owns 11,905 shares of the financial services provider’s stock valued at $1,369,000 after buying an additional 9,533 shares in the last quarter. Haverford Trust Co. increased its holdings in shares of Prudential Financial by 47.0% in the fourth quarter. Haverford Trust Co. now owns 3,073 shares of the financial services provider’s stock valued at $353,000 after buying an additional 982 shares in the last quarter. Geode Capital Management LLC grew its position in Prudential Financial by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 4,456,237 shares of the financial services provider’s stock worth $511,299,000 after purchasing an additional 137,541 shares in the last quarter. Finally, Burney Co. grew its position in Prudential Financial by 70.3% during the 4th quarter. Burney Co. now owns 3,557 shares of the financial services provider’s stock worth $409,000 after purchasing an additional 1,468 shares in the last quarter. 66.76% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on the stock. Atlantic Securities upgraded shares of Prudential Financial from a “neutral” rating to an “overweight” rating in a research report on Thursday, January 11th. Sandler O’Neill reiterated a “buy” rating and set a $134.00 price objective on shares of Prudential Financial in a research report on Thursday, January 11th. Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a research report on Monday, January 8th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $127.00 price objective on shares of Prudential Financial in a research report on Thursday, December 21st. Finally, ValuEngine upgraded shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $119.00.
Shares of Prudential Financial stock traded down $2.60 on Monday, hitting $100.95. 2,621,828 shares of the company traded hands, compared to its average volume of 2,276,983. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.32. Prudential Financial has a 12-month low of $97.88 and a 12-month high of $127.14. The stock has a market cap of $43,698.10, a P/E ratio of 9.54, a P/E/G ratio of 1.07 and a beta of 1.52.
Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.05. Prudential Financial had a net margin of 13.41% and a return on equity of 9.29%. The business had revenue of $15.25 billion during the quarter, compared to analyst estimates of $12.87 billion. During the same quarter in the previous year, the business earned $2.46 EPS. equities research analysts expect that Prudential Financial will post 12.07 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Wednesday, February 21st were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend was Tuesday, February 20th. This is a positive change from Prudential Financial’s previous quarterly dividend of $0.75. Prudential Financial’s payout ratio is presently 34.03%.
Prudential Financial declared that its board has authorized a share buyback program on Thursday, December 14th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In related news, insider Stephen Pelletier sold 40,729 shares of Prudential Financial stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $108.75, for a total value of $4,429,278.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Barbara Koster sold 16,801 shares of Prudential Financial 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 completion of the sale, the senior vice president now directly 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. 0.61% of the stock is currently owned by insiders.
About Prudential Financial
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through U.S. Individual Solutions, U.S. Workplace Solutions, Investment Management, and International Insurance divisions.
Receive News & Ratings for Prudential Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prudential Financial and related companies with MarketBeat.com's FREE daily email newsletter.