Prudential Financial (NYSE:PRU) Position Reduced by Guggenheim Capital LLC

Guggenheim Capital LLC lessened its stake in Prudential Financial (NYSE:PRU) by 13.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 665,305 shares of the financial services provider’s stock after selling 105,525 shares during the period. Guggenheim Capital LLC owned 0.16% of Prudential Financial worth $76,497,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PRU. Amundi Pioneer Asset Management Inc. purchased a new position in Prudential Financial in the 4th quarter worth about $151,327,000. Renaissance Technologies LLC increased its stake in Prudential Financial by 54.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,089,501 shares of the financial services provider’s stock worth $125,271,000 after buying an additional 383,901 shares during the period. Teacher Retirement System of Texas increased its stake in Prudential Financial by 386.4% in the 4th quarter. Teacher Retirement System of Texas now owns 322,308 shares of the financial services provider’s stock worth $37,059,000 after buying an additional 256,049 shares during the period. Retirement Systems of Alabama increased its stake in Prudential Financial by 93.9% in the 3rd quarter. Retirement Systems of Alabama now owns 403,359 shares of the financial services provider’s stock worth $42,885,000 after buying an additional 195,357 shares during the period. Finally, Thrivent Financial For Lutherans increased its stake in Prudential Financial by 1,001.8% in the 4th quarter. Thrivent Financial For Lutherans now owns 202,501 shares of the financial services provider’s stock worth $23,284,000 after buying an additional 184,122 shares during the period. 66.76% of the stock is currently owned by institutional investors.

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A number of research analysts have commented on PRU shares. Sandler O’Neill reissued a “buy” rating and set a $134.00 target price on shares of Prudential Financial in a research report on Thursday, January 11th. Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research report on Monday, January 8th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $127.00 target price on shares of Prudential Financial in a research report on Thursday, December 21st. UBS raised shares of Prudential Financial from a “neutral” rating to a “buy” rating in a research report on Friday, March 2nd. Finally, Bank of America started coverage on shares of Prudential Financial in a research report on Monday, March 26th. They set a “buy” rating and a $117.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $119.00.

Shares of NYSE:PRU traded down $2.60 during trading on Monday, reaching $100.95. The stock had a trading volume of 2,621,728 shares, compared to its average volume of 2,276,983. Prudential Financial has a one year low of $97.88 and a one year high of $127.14. The stock has a market capitalization 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. 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 (NYSE:PRU) last released its quarterly 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. 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 for the quarter, compared to analysts’ expectations of $12.87 billion. During the same period last year, the business earned $2.46 EPS. research analysts forecast that Prudential Financial will post 12.07 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Wednesday, February 21st were issued a $0.90 dividend. This is a boost from Prudential Financial’s previous quarterly dividend of $0.75. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date was Tuesday, February 20th. Prudential Financial’s dividend payout ratio (DPR) is currently 34.03%.

Prudential Financial announced that its board has approved a share repurchase program on Thursday, December 14th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

In other news, insider Stephen Pelletier sold 40,729 shares of the firm’s stock in a transaction dated 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 legal filing with the SEC, which can be accessed through this link. Also, SVP Barbara Koster sold 16,801 shares of the firm’s stock in a transaction dated 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 owns 37,327 shares in the company, valued at $4,298,950.59. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.

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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.

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

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