Bailard Inc. Sells 1,169 Shares of Prudential Financial Inc (PRU)
Bailard Inc. lessened its stake in Prudential Financial Inc (NYSE:PRU) by 2.3% in the 4th quarter, Holdings Channel reports. The firm owned 48,914 shares of the financial services provider’s stock after selling 1,169 shares during the period. Bailard Inc.’s holdings in Prudential Financial were worth $5,624,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. FTB Advisors Inc. increased its holdings in shares of 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 acquired a new stake in shares of Prudential Financial in the fourth quarter valued at approximately $127,000. Grove Bank & Trust increased its holdings in shares of 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. Legacy Advisors LLC acquired a new stake in shares of Prudential Financial in the third quarter valued at approximately $129,000. Finally, Community Bank N.A. increased its holdings in shares of 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 owned by hedge funds and other institutional investors.
Several research firms recently commented on PRU. ValuEngine raised Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 5th. Royal Bank of Canada upgraded Prudential Financial from a “sector perform” rating to an “outperform” rating in a research report on Monday. They noted that the move was a valuation call. B. Riley reiterated a “buy” rating on shares of Prudential Financial in a research report on Monday, November 6th. Sandler O’Neill reiterated a “buy” rating and issued a $134.00 price objective on shares of Prudential Financial in a research report on Thursday, January 11th. Finally, Wells Fargo & Co reiterated a “hold” rating and issued a $122.00 price objective on shares of Prudential Financial in a research report on Wednesday, February 7th. Six 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 currently has an average rating of “Buy” and an average target price of $119.14.
Prudential Financial Inc (PRU) opened at $106.89 on Wednesday. Prudential Financial Inc has a 52-week low of $97.88 and a 52-week high of $127.14. The company has a market capitalization of $46,000.00, a price-to-earnings ratio of 5.98, a PEG ratio of 1.09 and a beta of 1.49. 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 EPS for the quarter, topping the consensus estimate of $2.64 by $0.05. Prudential Financial had a return on equity of 9.29% and a net margin of 13.41%. The business had revenue of $15.25 billion during the quarter, compared to analyst estimates of $12.87 billion. During the same period last year, the business posted $2.46 earnings per share. equities research analysts predict that Prudential Financial Inc will post 12.17 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 21st will be given a dividend of $0.90 per share. This is a positive change from Prudential Financial’s previous quarterly dividend of $0.75. This represents a $3.60 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Tuesday, February 20th. Prudential Financial’s dividend payout ratio (DPR) is currently 16.80%.
Prudential Financial declared that its board has initiated a share buyback plan 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 plans are typically an indication that the company’s management believes its stock is undervalued.
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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.
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