The Manufacturers Life Insurance Company raised its position in Prudential Financial Inc (NYSE:PRU) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,994,321 shares of the financial services provider’s stock after purchasing an additional 34,046 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Prudential Financial were worth $229,307,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of PRU. Grove Bank & Trust boosted 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 buying an additional 943 shares during the period. FTB Advisors Inc. boosted 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 buying an additional 750 shares during the period. Cerebellum GP LLC acquired a new position in shares of Prudential Financial in the fourth quarter valued at approximately $127,000. Legacy Advisors LLC acquired a new position in shares of Prudential Financial in the third quarter valued at approximately $129,000. Finally, Community Bank N.A. boosted 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 buying an additional 987 shares during the period. 64.37% of the stock is owned by hedge funds and other institutional investors.

PRU has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a report on Monday, January 8th. Citigroup upgraded shares of Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 target price for the company in a report on Tuesday, October 17th. Wells Fargo & Co set a $122.00 target price on shares of Prudential Financial and gave the stock a “hold” rating in a report on Thursday, December 14th. Keefe, Bruyette & Woods restated a “buy” rating on shares of Prudential Financial in a report on Friday, November 10th. Finally, ValuEngine upgraded shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. 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 company. Prudential Financial presently has a consensus rating of “Buy” and a consensus price target of $119.14.

In other news, EVP Timothy P. Harris sold 10,527 shares of the stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $115.00, for a total value of $1,210,605.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Barbara Koster sold 16,801 shares of the 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 directly owns 37,327 shares in the company, valued at $4,298,950.59. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

Shares of Prudential Financial Inc (NYSE PRU) opened at $107.00 on Wednesday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.32. Prudential Financial Inc has a 1 year low of $97.88 and a 1 year high of $127.14. The stock has a market cap of $45,732.64, a price-to-earnings ratio of 5.97, a price-to-earnings-growth ratio of 1.12 and a beta of 1.50.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $2.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.64 by $0.05. The company had revenue of $15.25 billion for the quarter, compared to analyst estimates of $12.87 billion. Prudential Financial had a net margin of 13.41% and a return on equity of 9.29%. During the same period in the prior year, the firm earned $2.46 earnings per share. equities analysts anticipate that Prudential Financial Inc will post 12.05 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 21st will be given a $0.90 dividend. The ex-dividend date is Tuesday, February 20th. 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 3.36%. Prudential Financial’s dividend payout ratio is presently 16.75%.

Prudential Financial declared that its Board of Directors has authorized a stock buyback 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 purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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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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