Cetera Advisor Networks LLC increased its stake in Prudential Financial Inc (NYSE:PRU) by 10.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,142 shares of the financial services provider’s stock after buying an additional 475 shares during the period. Cetera Advisor Networks LLC’s holdings in Prudential Financial were worth $586,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. Cetera Advisors LLC increased its stake in Prudential Financial by 20.4% in the 4th quarter. Cetera Advisors LLC now owns 3,404 shares of the financial services provider’s stock worth $392,000 after buying an additional 576 shares during the period. Barings LLC increased its position in Prudential Financial by 47.3% during the 4th quarter. Barings LLC now owns 24,812 shares of the financial services provider’s stock valued at $2,853,000 after purchasing an additional 7,970 shares during the period. New Mexico Educational Retirement Board increased its position in Prudential Financial by 3.0% during the 4th quarter. New Mexico Educational Retirement Board now owns 41,031 shares of the financial services provider’s stock valued at $4,718,000 after purchasing an additional 1,200 shares during the period. Roosevelt Investment Group Inc. increased its position in Prudential Financial by 0.9% during the 4th quarter. Roosevelt Investment Group Inc. now owns 111,987 shares of the financial services provider’s stock valued at $12,876,000 after purchasing an additional 962 shares during the period. Finally, Carnick & Kubik Group LLC purchased a new position in Prudential Financial during the 4th quarter valued at about $5,142,000. 64.37% of the stock is currently owned by institutional investors.
In other news, SVP Barbara Koster sold 16,801 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $115.17, for a total value of $1,934,971.17. Following the sale, the senior vice president now directly owns 37,327 shares in the company, valued at approximately $4,298,950.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy P. Harris sold 10,527 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were 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 currently owned by company insiders.
Shares of Prudential Financial Inc (PRU) opened at $109.43 on Monday. Prudential Financial Inc has a 1-year low of $97.88 and a 1-year high of $127.14. The firm has a market cap of $46,400.00, a PE ratio of 6.13, a PEG ratio of 1.13 and a beta of 1.49. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.13 and a quick 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 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.05. Prudential Financial had a net margin of 13.41% and a return on equity of 9.29%. The business had revenue of $15.25 billion for the quarter, compared to analysts’ expectations of $12.87 billion. During the same period last year, the business earned $2.46 EPS. sell-side analysts predict that Prudential Financial Inc will post 12.06 earnings per share for the current fiscal year.
Prudential Financial announced that its board has authorized a share repurchase plan on Thursday, December 14th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
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 issued a $0.90 dividend. This is a boost 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 3.29%. The ex-dividend date of this dividend is Tuesday, February 20th. Prudential Financial’s dividend payout ratio (DPR) is currently 16.80%.
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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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