Goelzer Investment Management Inc. Has $9.77 Million Holdings in Prudential Financial Inc (PRU)

Goelzer Investment Management Inc. cut its position in Prudential Financial Inc (NYSE:PRU) by 1.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 84,995 shares of the financial services provider’s stock after selling 842 shares during the quarter. Prudential Financial comprises about 1.1% of Goelzer Investment Management Inc.’s portfolio, making the stock its 16th largest holding. Goelzer Investment Management Inc.’s holdings in Prudential Financial were worth $9,773,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PRU. APG Asset Management N.V. raised its holdings in Prudential Financial by 171.8% in the third quarter. APG Asset Management N.V. now owns 2,704,719 shares of the financial services provider’s stock worth $287,566,000 after purchasing an additional 1,709,699 shares during the period. PGGM Investments raised its holdings in Prudential Financial by 102.2% in the third quarter. PGGM Investments now owns 578,084 shares of the financial services provider’s stock worth $61,462,000 after purchasing an additional 292,174 shares during the period. Teacher Retirement System of Texas raised its holdings in Prudential Financial by 386.4% in the fourth quarter. Teacher Retirement System of Texas now owns 322,308 shares of the financial services provider’s stock worth $37,059,000 after purchasing an additional 256,049 shares during the period. Retirement Systems of Alabama raised its holdings in Prudential Financial by 93.9% in the third quarter. Retirement Systems of Alabama now owns 403,359 shares of the financial services provider’s stock worth $42,885,000 after purchasing an additional 195,357 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in Prudential Financial by 17.7% in the third quarter. Canada Pension Plan Investment Board now owns 863,385 shares of the financial services provider’s stock worth $91,795,000 after purchasing an additional 129,700 shares during the period. Institutional investors own 64.35% of the company’s stock.

PRU has been the topic of several analyst reports. Royal Bank of Canada reiterated a “hold” rating and issued a $119.00 target price on shares of Prudential Financial in a report on Friday, November 3rd. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $127.00 target price on shares of Prudential Financial in a report on Thursday, December 21st. Morgan Stanley raised their price objective on shares of Prudential Financial from $123.00 to $124.00 and gave the stock an “equal weight” rating in a report on Thursday, November 2nd. Goldman Sachs Group assumed coverage on shares of Prudential Financial in a report on Wednesday, October 18th. They set a “neutral” rating and a $114.00 price objective on the stock. Finally, Citigroup upgraded shares of Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 price objective on the stock in a report on Tuesday, October 17th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Prudential Financial presently has a consensus rating of “Buy” and a consensus target price of $119.06.

In related news, SVP Barbara Koster sold 16,801 shares of the firm’s stock in a transaction on 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 completion of the transaction, the senior vice president now owns 37,327 shares of the company’s stock, valued at $4,298,950.59. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Timothy P. Harris sold 10,527 shares of the firm’s stock in a transaction on 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 (NYSE PRU) opened at $103.38 on Friday. Prudential Financial Inc has a twelve month low of $97.88 and a twelve month high of $127.14. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.34. The company has a market cap of $47,136.08, a price-to-earnings ratio of 5.77, a P/E/G ratio of 1.13 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 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 analyst estimates of $12.87 billion. Prudential Financial had a net margin of 13.41% and a return on equity of 9.55%. During the same period last year, the business posted $2.46 earnings per share. analysts predict that Prudential Financial Inc will post 12.28 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 21st will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 3.48%. This is an increase from Prudential Financial’s previous quarterly dividend of $0.75. Prudential Financial’s dividend payout ratio (DPR) is 16.75%.

Prudential Financial declared that its board has authorized a share repurchase plan on Thursday, December 14th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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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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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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