12,612 Shares in Prudential Financial, Inc. (PRU) Purchased by Steward Partners Investment Advisory LLC
Steward Partners Investment Advisory LLC bought a new stake in Prudential Financial, Inc. (NYSE:PRU) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 12,612 shares of the financial services provider’s stock, valued at approximately $1,340,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in PRU. Global X Management Co. LLC lifted its position in shares of Prudential Financial by 27.8% in the 2nd quarter. Global X Management Co. LLC now owns 3,331 shares of the financial services provider’s stock worth $360,000 after acquiring an additional 725 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Prudential Financial by 2.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 23,977 shares of the financial services provider’s stock worth $2,593,000 after acquiring an additional 521 shares during the period. Alps Advisors Inc. bought a new stake in shares of Prudential Financial in the 2nd quarter worth approximately $671,000. Ballentine Partners LLC lifted its position in shares of Prudential Financial by 4.6% in the 2nd quarter. Ballentine Partners LLC now owns 3,021 shares of the financial services provider’s stock worth $342,000 after acquiring an additional 134 shares during the period. Finally, KBC Group NV lifted its position in shares of Prudential Financial by 19.7% in the 2nd quarter. KBC Group NV now owns 569,274 shares of the financial services provider’s stock worth $61,561,000 after acquiring an additional 93,704 shares during the period. 64.65% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Timothy P. Harris sold 10,527 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $115.00, for a total transaction of $1,210,605.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nicholas C. Silitch sold 44,860 shares of the firm’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $111.77, for a total value of $5,014,002.20. Following the sale, the insider now directly owns 27,927 shares of the company’s stock, valued at $3,121,400.79. The disclosure for this sale can be found here. Insiders have sold a total of 100,017 shares of company stock valued at $11,219,151 over the last ninety days. Insiders own 0.66% of the company’s stock.
Prudential Financial, Inc. (NYSE PRU) opened at $115.73 on Friday. 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 capitalization of $48,535.28, a P/E ratio of 11.06, a P/E/G ratio of 1.29 and a beta of 1.55. Prudential Financial, Inc. has a 52-week low of $97.88 and a 52-week high of $117.99.
Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.71 by $0.30. Prudential Financial had a return on equity of 9.51% and a net margin of 7.71%. The firm had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $12.24 billion. During the same period last year, the firm posted $2.66 EPS. analysts forecast that Prudential Financial, Inc. will post 10.44 earnings per share for the current fiscal year.
Prudential Financial announced that its board has authorized a share buyback plan on Thursday, December 14th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 14th. Investors of record on Monday, November 27th were issued a dividend of $0.75 per share. The ex-dividend date was Friday, November 24th. This represents a $3.00 dividend on an annualized basis and a yield of 2.59%. Prudential Financial’s dividend payout ratio is 30.18%.
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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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