Two Sigma Advisers LP raised its position in Prudential Financial Inc (NYSE:PRU) by 305.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,412,795 shares of the financial services provider’s stock after buying an additional 1,064,223 shares during the quarter. Two Sigma Advisers LP’s holdings in Prudential Financial were worth $162,443,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of PRU. Victory Capital Management Inc. raised its stake in shares of Prudential Financial by 35.7% in the third quarter. Victory Capital Management Inc. now owns 88,236 shares of the financial services provider’s stock valued at $9,381,000 after buying an additional 23,200 shares during the period. American Century Companies Inc. grew its position in shares of Prudential Financial by 13.6% in the third quarter. American Century Companies Inc. now owns 26,267 shares of the financial services provider’s stock valued at $2,793,000 after purchasing an additional 3,153 shares in the last quarter. Alps Advisors Inc. grew its position in shares of Prudential Financial by 18.7% in the third quarter. Alps Advisors Inc. now owns 7,366 shares of the financial services provider’s stock valued at $783,000 after purchasing an additional 1,159 shares in the last quarter. FDx Advisors Inc. grew its position in shares of Prudential Financial by 8.8% in the third quarter. FDx Advisors Inc. now owns 19,688 shares of the financial services provider’s stock valued at $2,093,000 after purchasing an additional 1,592 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of Prudential Financial by 19.3% in the third quarter. Sei Investments Co. now owns 82,017 shares of the financial services provider’s stock valued at $8,720,000 after purchasing an additional 13,289 shares in the last quarter. Hedge funds and other institutional investors own 66.79% of the company’s stock.
In other news, SVP Barbara Koster sold 16,801 shares of the company’s stock in a transaction dated 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 completion of the transaction, 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 is available through the SEC website. Also, insider Stephen Pelletier sold 40,729 shares of the company’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. 0.66% of the stock is owned by insiders.
Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, February 7th. The financial services provider reported $2.69 EPS for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $12.87 billion. During the same period in the previous year, the business earned $2.46 earnings per share. equities research analysts predict that Prudential Financial Inc will post 12.06 EPS for the current year.
Prudential Financial declared that its board has initiated a share repurchase 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 repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.
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 dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 3.28%. This is a boost from Prudential Financial’s previous quarterly dividend of $0.75. The ex-dividend date is Tuesday, February 20th. Prudential Financial’s payout ratio is presently 20.10%.
Several equities analysts have recently weighed in on PRU shares. Royal Bank of Canada upgraded Prudential Financial from a “sector perform” rating to an “outperform” rating in a research report on Monday, February 12th. They noted that the move was a valuation call. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $128.00 price target on shares of Prudential Financial in a research report on Friday, February 23rd. Sandler O’Neill reiterated a “buy” rating and issued a $134.00 price target on shares of Prudential Financial in a research report on Thursday, January 11th. UBS Group upgraded Prudential Financial from a “neutral” rating to a “buy” rating in a research report on Friday, March 2nd. Finally, ValuEngine upgraded Prudential Financial from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $118.45.
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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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