Bremer Trust National Association purchased a new stake in Prudential Financial Inc (NYSE:PRU) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,019 shares of the financial services provider’s stock, valued at approximately $232,000.
Several other hedge funds also recently bought and sold shares of the company. Green Square Capital LLC grew its position in shares of Prudential Financial by 0.3% in the second quarter. Green Square Capital LLC now owns 2,065 shares of the financial services provider’s stock valued at $223,000 after purchasing an additional 7 shares in the last quarter. Security National Bank of SO Dak grew its position in shares of Prudential Financial by 3.3% in the second quarter. Security National Bank of SO Dak now owns 4,539 shares of the financial services provider’s stock valued at $491,000 after purchasing an additional 145 shares in the last quarter. Horizon Investment Services LLC grew its position in shares of Prudential Financial by 9.8% in the second quarter. Horizon Investment Services LLC now owns 2,199 shares of the financial services provider’s stock valued at $238,000 after purchasing an additional 196 shares in the last quarter. Wealthfront Inc. grew its position in Prudential Financial by 1.8% in the second quarter. Wealthfront Inc. now owns 11,447 shares of the financial services provider’s stock worth $1,238,000 after acquiring an additional 205 shares during the period. Finally, Comerica Securities Inc. grew its position in Prudential Financial by 6.4% in the second quarter. Comerica Securities Inc. now owns 3,434 shares of the financial services provider’s stock worth $371,000 after acquiring an additional 206 shares during the period. Institutional investors and hedge funds own 64.46% of the company’s stock.
PRU has been the subject of several analyst reports. Zacks Investment Research upgraded Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 price objective for the company in a research report on Tuesday, October 10th. Citigroup upgraded Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 price objective for the company in a research report on Tuesday, October 17th. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Prudential Financial in a research report on Friday, November 10th. Royal Bank of Canada reiterated a “hold” rating and issued a $119.00 price objective on shares of Prudential Financial in a research report on Friday, November 3rd. Finally, Morgan Stanley increased their price objective on Prudential Financial from $118.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 5th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Prudential Financial has a consensus rating of “Buy” and an average target price of $119.35.
Prudential Financial Inc (NYSE PRU) opened at $124.12 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial Inc has a 52 week low of $97.88 and a 52 week high of $125.00. The company has a market capitalization of $53,420.00, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 1.29 and a beta of 1.55.
Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.01 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.30. Prudential Financial had a return on equity of 9.51% and a net margin of 7.71%. The company had revenue of $13.36 billion for the quarter, compared to analysts’ expectations of $12.24 billion. During the same period in the prior year, the firm earned $2.66 earnings per share. sell-side analysts predict that Prudential Financial Inc will post 10.49 EPS for the current fiscal year.
Prudential Financial announced that its Board of Directors has initiated a stock repurchase plan on Thursday, December 14th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
In other Prudential Financial news, EVP Timothy P. Harris sold 10,527 shares of the company’s stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Barbara Koster sold 16,801 shares of the company’s stock in a transaction on 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 transaction, 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. Insiders have sold 116,818 shares of company stock worth $13,154,122 over the last 90 days. 0.66% of the stock is owned by insiders.
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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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