MANA Advisors LLC acquired a new stake in Prudential Financial Inc (NYSE:PRU) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,520 shares of the financial services provider’s stock, valued at approximately $405,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Steward Partners Investment Advisory LLC raised its holdings in Prudential Financial by 3.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 13,045 shares of the financial services provider’s stock valued at $1,499,000 after buying an additional 433 shares during the period. Seaward Management Limited Partnership raised its holdings in Prudential Financial by 1.1% in the 4th quarter. Seaward Management Limited Partnership now owns 42,653 shares of the financial services provider’s stock valued at $4,904,000 after buying an additional 450 shares during the period. Cetera Advisor Networks LLC raised its holdings in Prudential Financial by 10.2% in the 4th quarter. Cetera Advisor Networks LLC now owns 5,142 shares of the financial services provider’s stock valued at $586,000 after buying an additional 475 shares during the period. Pinnacle Associates Ltd. raised its holdings in Prudential Financial by 0.9% in the 4th quarter. Pinnacle Associates Ltd. now owns 52,269 shares of the financial services provider’s stock valued at $6,010,000 after buying an additional 483 shares during the period. Finally, First Allied Advisory Services Inc. raised its holdings in Prudential Financial by 4.5% in the 3rd quarter. First Allied Advisory Services Inc. now owns 11,820 shares of the financial services provider’s stock valued at $1,253,000 after buying an additional 507 shares during the period. Hedge funds and other institutional investors own 65.52% of the company’s stock.
In other news, SVP Barbara Koster sold 16,801 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was 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 of the company’s stock, valued at $4,298,950.59. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Stephen Pelletier sold 40,729 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $108.75, for a total value of $4,429,278.75. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.
Prudential Financial Inc (NYSE:PRU) opened at $110.30 on Friday. 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 $46,546.60, a PE ratio of 10.43, a PEG ratio of 1.14 and a beta of 1.54. 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 announced its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $2.69 EPS for the quarter, topping the Zacks’ 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 the consensus estimate of $12.87 billion. During the same period in the previous year, the company posted $2.46 earnings per share. research analysts predict that Prudential Financial Inc will post 12.06 EPS for the current year.
Prudential Financial declared that its Board of Directors has approved a share buyback program on Thursday, December 14th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
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 dividend of $0.90 per share. The ex-dividend date of this dividend is Tuesday, February 20th. This is an increase from Prudential Financial’s previous quarterly dividend of $0.75. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.26%. Prudential Financial’s payout ratio is currently 20.10%.
About Prudential Financial
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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