Boston Partners Reduces Holdings in Prudential Financial Inc (PRU)

Boston Partners reduced its position in Prudential Financial Inc (NYSE:PRU) by 0.8% during the 4th quarter, Holdings Channel reports. The firm owned 1,265,386 shares of the financial services provider’s stock after selling 9,769 shares during the quarter. Boston Partners’ holdings in Prudential Financial were worth $145,494,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Grove Bank & Trust increased its holdings in shares of Prudential Financial by 507.0% during the 3rd quarter. Grove Bank & Trust now owns 1,129 shares of the financial services provider’s stock valued at $120,000 after acquiring an additional 943 shares during the last quarter. FTB Advisors Inc. increased its holdings in shares of Prudential Financial by 232.2% during the 4th quarter. FTB Advisors Inc. now owns 1,073 shares of the financial services provider’s stock valued at $124,000 after acquiring an additional 750 shares during the last quarter. Cerebellum GP LLC acquired a new position in shares of Prudential Financial during the 4th quarter valued at about $127,000. Legacy Advisors LLC acquired a new position in shares of Prudential Financial during the 3rd quarter valued at about $129,000. Finally, Zions Bancorporation increased its holdings in shares of Prudential Financial by 44.9% during the 3rd quarter. Zions Bancorporation now owns 1,690 shares of the financial services provider’s stock valued at $180,000 after acquiring an additional 524 shares during the last quarter. 64.57% of the stock is currently owned by institutional investors.

Shares of Prudential Financial Inc (PRU) opened at $117.33 on Monday. The stock has a market capitalization of $49,747.92, a P/E ratio of 11.80, a price-to-earnings-growth ratio of 1.19 and a beta of 1.50. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.34. Prudential Financial Inc has a fifty-two week low of $97.88 and a fifty-two week high of $127.14.

Prudential Financial announced that its Board of Directors has approved a share buyback program on Thursday, December 14th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

In other Prudential Financial news, SVP Barbara Koster sold 16,801 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was 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 owns 37,327 shares of the company’s stock, valued at approximately $4,298,950.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Timothy P. Harris sold 10,527 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $115.00, for a total value of $1,210,605.00. The disclosure for this sale can be found here. Insiders sold a total of 116,818 shares of company stock worth $13,154,122 in the last ninety days. Insiders own 0.66% of the company’s stock.

A number of research analysts have recently commented on the company. ValuEngine raised Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 5th. B. Riley reissued a “buy” rating on shares of Prudential Financial in a report on Monday, November 6th. Sandler O’Neill reaffirmed a “buy” rating and issued a $134.00 target price on shares of Prudential Financial in a report on Thursday, January 11th. FBR & Co raised Prudential Financial from a “neutral” rating to a “buy” rating and lowered their target price for the company from $117.00 to $100.00 in a report on Tuesday, October 10th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $121.00 target price on shares of Prudential Financial in a report on Monday, October 16th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Prudential Financial has a consensus rating of “Buy” and an average target price of $119.35.

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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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