Benin Management CORP lifted its position in Prudential Financial Inc (NYSE:PRU) by 24.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 122,020 shares of the financial services provider’s stock after buying an additional 23,745 shares during the period. Prudential Financial makes up about 5.6% of Benin Management CORP’s portfolio, making the stock its 3rd biggest holding. Benin Management CORP’s holdings in Prudential Financial were worth $14,030,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Acadian Asset Management LLC grew its holdings in shares of Prudential Financial by 14.8% in the fourth quarter. Acadian Asset Management LLC now owns 927,521 shares of the financial services provider’s stock valued at $106,646,000 after purchasing an additional 119,622 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Prudential Financial by 5.5% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,561,532 shares of the financial services provider’s stock worth $179,545,000 after buying an additional 81,628 shares during the period. Creative Planning boosted its stake in Prudential Financial by 3.2% during the fourth quarter. Creative Planning now owns 24,588 shares of the financial services provider’s stock worth $2,827,000 after buying an additional 754 shares during the period. National Pension Service boosted its stake in Prudential Financial by 2.3% during the fourth quarter. National Pension Service now owns 391,289 shares of the financial services provider’s stock worth $44,990,000 after buying an additional 8,717 shares during the period. Finally, Bank of Montreal Can boosted its stake in Prudential Financial by 4.9% during the fourth quarter. Bank of Montreal Can now owns 1,551,788 shares of the financial services provider’s stock worth $178,423,000 after buying an additional 72,507 shares during the period. 64.50% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Inc (PRU) traded up $1.35 during midday trading on Thursday, hitting $123.44. 1,288,100 shares of the stock traded hands, compared to its average volume of 1,845,455. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.34. Prudential Financial Inc has a twelve month low of $97.88 and a twelve month high of $125.00. The stock has a market capitalization of $53,310.00, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 1.26 and a beta of 1.55.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.71 by $0.30. Prudential Financial had a net margin of 7.71% and a return on equity of 9.51%. The business had revenue of $13.36 billion during the quarter, compared to analyst estimates of $12.24 billion. During the same quarter last year, the firm posted $2.66 earnings per share. analysts forecast that Prudential Financial Inc will post 10.49 EPS for the current fiscal year.

Prudential Financial declared that its board has approved a stock buyback plan on Thursday, December 14th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

In other news, SVP Barbara Koster sold 16,801 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $115.17, for a total value 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 $4,298,950.59. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Nicholas C. Silitch sold 44,860 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $111.77, for a total transaction of $5,014,002.20. Following the completion of the transaction, the insider now directly owns 27,927 shares of the company’s stock, valued at approximately $3,121,400.79. The disclosure for this sale can be found here. In the last three months, insiders sold 116,818 shares of company stock valued at $13,154,122. Insiders own 0.66% of the company’s stock.

PRU has been the subject of several research analyst reports. Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 target price for the company in a research note on Tuesday, October 10th. Citigroup raised shares of Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 target price for the company in a research note on Tuesday, October 17th. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Prudential Financial in a research note on Friday, November 10th. Royal Bank of Canada reaffirmed a “hold” rating and set a $119.00 target price on shares of Prudential Financial in a research note on Friday, November 3rd. Finally, Wells Fargo & Co set a $122.00 target price on shares of Prudential Financial and gave the stock a “hold” rating in a research note on Thursday, December 14th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $119.35.

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

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