National Pension Service raised its holdings in shares of Prudential Financial, Inc. (NYSE:PRU – Get Rating) by 3.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 656,840 shares of the financial services provider’s stock after buying an additional 20,866 shares during the quarter. National Pension Service owned about 0.18% of Prudential Financial worth $56,685,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Wagner Wealth Management LLC purchased a new stake in shares of Prudential Financial in the second quarter valued at about $26,000. Pacific Center for Financial Services purchased a new stake in shares of Prudential Financial in the second quarter valued at about $31,000. Exos TFP Holdings LLC purchased a new stake in shares of Prudential Financial in the third quarter valued at about $36,000. Fairfield Bush & CO. purchased a new stake in shares of Prudential Financial in the first quarter valued at about $36,000. Finally, Tsfg LLC grew its holdings in shares of Prudential Financial by 45.7% in the third quarter. Tsfg LLC now owns 459 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 144 shares during the period. Hedge funds and other institutional investors own 56.33% of the company’s stock.
Insider Buying and Selling at Prudential Financial
In other Prudential Financial news, EVP Andrew F. Sullivan sold 4,126 shares of the firm’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $99.20, for a total value of $409,299.20. Following the completion of the sale, the executive vice president now owns 12,241 shares of the company’s stock, valued at $1,214,307.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Andrew F. Sullivan sold 4,126 shares of Prudential Financial stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $99.20, for a total transaction of $409,299.20. Following the completion of the transaction, the executive vice president now owns 12,241 shares of the company’s stock, valued at approximately $1,214,307.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Andrew F. Sullivan sold 11,405 shares of Prudential Financial stock in a transaction on Friday, February 17th. The stock was sold at an average price of $100.95, for a total value of $1,151,334.75. Following the transaction, the executive vice president now directly owns 12,300 shares of the company’s stock, valued at approximately $1,241,685. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Prudential Financial Stock Performance
Shares of PRU opened at $80.16 on Thursday. The company’s 50 day simple moving average is $99.17 and its 200-day simple moving average is $99.12. Prudential Financial, Inc. has a 12-month low of $78.47 and a 12-month high of $122.54. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.16. The firm has a market cap of $29.34 billion, a PE ratio of -20.35, a price-to-earnings-growth ratio of 0.57 and a beta of 1.41.
Prudential Financial (NYSE:PRU – Get Rating) last posted its quarterly earnings data on Tuesday, February 7th. The financial services provider reported $2.42 earnings per share for the quarter, missing analysts’ consensus estimates of $2.57 by ($0.15). Prudential Financial had a negative net margin of 2.33% and a positive return on equity of 13.31%. The firm had revenue of $12.65 billion during the quarter, compared to analysts’ expectations of $12.78 billion. During the same quarter last year, the business earned $3.18 earnings per share. As a group, equities analysts predict that Prudential Financial, Inc. will post 12.2 EPS for the current year.
Prudential Financial declared that its board has initiated a stock repurchase program on Tuesday, February 7th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 2.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
Prudential Financial Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 16th. Shareholders of record on Tuesday, February 21st will be issued a $1.25 dividend. The ex-dividend date of this dividend is Friday, February 17th. This represents a $5.00 dividend on an annualized basis and a yield of 6.24%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.20. Prudential Financial’s dividend payout ratio (DPR) is -126.90%.
About Prudential Financial
Prudential Financial, Inc engages in the provision of insurance, investment management, and other financial products and services to both individual and institutional customers. It operates through the following segments: PGIM, U.S. Businesses, International Businesses, Closed Block, and Corporate and Others.
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