Wealth Advisors of Tampa Bay LLC purchased a new stake in Prudential Financial Inc (NYSE:PRU) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 11,713 shares of the financial services provider’s stock, valued at approximately $1,378,000.

Other large investors have also bought and sold shares of the company. Grove Bank & Trust boosted its holdings in Prudential Financial by 507.0% in the third quarter. Grove Bank & Trust now owns 1,129 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 943 shares during the last quarter. FTB Advisors Inc. boosted its holdings in Prudential Financial by 232.2% in the fourth quarter. FTB Advisors Inc. now owns 1,073 shares of the financial services provider’s stock valued at $124,000 after purchasing an additional 750 shares during the last quarter. Cerebellum GP LLC purchased a new stake in Prudential Financial in the fourth quarter valued at $127,000. Legacy Advisors LLC purchased a new stake in Prudential Financial in the third quarter valued at $129,000. Finally, Community Bank N.A. boosted its holdings in Prudential Financial by 269.7% in the fourth quarter. Community Bank N.A. now owns 1,353 shares of the financial services provider’s stock valued at $156,000 after purchasing an additional 987 shares during the last quarter. 64.37% of the stock is currently owned by institutional investors.

Several equities research analysts have commented on PRU shares. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $127.00 price target on shares of Prudential Financial in a report on Thursday, December 21st. B. Riley reissued a “buy” rating on shares of Prudential Financial in a research note on Monday, November 6th. ValuEngine lowered shares of Prudential Financial from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 10th. Citigroup raised shares of Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 target price on the stock in a research note on Tuesday, October 17th. Finally, 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 note on Monday, January 8th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Prudential Financial has an average rating of “Buy” and a consensus target price of $119.14.

Shares of Prudential Financial Inc (NYSE:PRU) opened at $107.00 on Monday. Prudential Financial Inc has a 12 month low of $97.88 and a 12 month high of $127.14. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.13 and a current ratio of 0.13. The stock has a market cap of $44,960.96, a PE ratio of 5.92, a PEG ratio of 1.09 and a beta of 1.50.

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, topping 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 firm had revenue of $15.25 billion during the quarter, compared to the consensus estimate of $12.87 billion. During the same quarter in the prior year, the firm earned $2.46 EPS. research analysts predict that Prudential Financial Inc will post 12.17 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 21st will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 3.36%. The ex-dividend date is Tuesday, February 20th. This is an increase from Prudential Financial’s previous quarterly dividend of $0.75. Prudential Financial’s dividend payout ratio is 16.75%.

Prudential Financial announced that its board has approved a share 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. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

In related news, SVP Barbara Koster sold 16,801 shares of the company’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 transaction, the senior vice president now owns 37,327 shares in the company, valued at approximately $4,298,950.59. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Timothy P. Harris sold 10,527 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $115.00, for a total transaction of $1,210,605.00. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

TRADEMARK VIOLATION WARNING: This news story was reported by Daily Political and is the sole property of of Daily Political. If you are accessing this news story on another website, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The original version of this news story can be viewed at https://www.dailypolitical.com/2018/02/12/wealth-advisors-of-tampa-bay-llc-purchases-shares-of-11713-prudential-financial-inc-pru.html.

Prudential Financial Company 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.

Want to see what other hedge funds are holding PRU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prudential Financial Inc (NYSE:PRU).

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

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.