Prudential Financial Inc (PRU) Shares Sold by Flippin Bruce & Porter Inc.
Flippin Bruce & Porter Inc. reduced its stake in Prudential Financial Inc (NYSE:PRU) by 1.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 59,972 shares of the financial services provider’s stock after selling 980 shares during the quarter. Flippin Bruce & Porter Inc.’s holdings in Prudential Financial were worth $6,896,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Grove Bank & Trust raised its position in shares of Prudential Financial by 507.0% in the 3rd 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. raised its position in shares of Prudential Financial by 232.2% in the 4th 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 position in shares of Prudential Financial in the 4th quarter valued at approximately $127,000. Legacy Advisors LLC purchased a new position in shares of Prudential Financial in the 3rd quarter valued at approximately $129,000. Finally, Community Bank N.A. raised its position in shares of Prudential Financial by 269.7% in the 4th 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. 63.81% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on PRU shares. Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a research report on Monday, January 8th. B. Riley reissued a “buy” rating on shares of Prudential Financial in a research report on Monday, November 6th. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Prudential Financial in a research report on Friday, November 10th. ValuEngine lowered shares of Prudential Financial from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 10th. Finally, Sandler O’Neill reissued a “buy” rating and set a $134.00 price target on shares of Prudential Financial in a research report on Thursday, January 11th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $118.45.
Shares of Prudential Financial Inc (PRU) opened at $108.98 on Friday. The company has a market cap of $45,989.56, a P/E ratio of 6.08, a PEG ratio of 1.13 and a beta of 1.50. Prudential Financial Inc has a one year low of $97.88 and a one year 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.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $2.69 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.05. The business had revenue of $15.25 billion for the quarter, compared to analysts’ expectations of $12.87 billion. Prudential Financial had a net margin of 13.41% and a return on equity of 9.29%. During the same quarter last year, the company earned $2.46 EPS. research analysts forecast that Prudential Financial Inc will post 12.06 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 21st will be paid a dividend of $0.90 per share. This is a boost from Prudential Financial’s previous quarterly dividend of $0.75. The ex-dividend date is Tuesday, February 20th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.30%. Prudential Financial’s dividend payout ratio (DPR) is presently 20.10%.
Prudential Financial announced that its Board of Directors has approved a share repurchase program on Thursday, December 14th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are generally 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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