Jaffetilchin Investment Partners LLC reduced its stake in Prudential Financial Inc (NYSE:PRU) by 53.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,161 shares of the financial services provider’s stock after selling 2,510 shares during the quarter. Jaffetilchin Investment Partners LLC’s holdings in Prudential Financial were worth $248,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Sit Investment Associates Inc. lifted its stake in shares of Prudential Financial by 2.6% in the fourth quarter. Sit Investment Associates Inc. now owns 51,605 shares of the financial services provider’s stock worth $5,934,000 after acquiring an additional 1,310 shares during the period. Gillespie Robinson & Grimm Inc. lifted its stake in Prudential Financial by 67.2% in the fourth quarter. Gillespie Robinson & Grimm Inc. now owns 5,599 shares of the financial services provider’s stock valued at $644,000 after buying an additional 2,250 shares during the period. DnB Asset Management AS lifted its stake in Prudential Financial by 1.6% in the fourth quarter. DnB Asset Management AS now owns 93,950 shares of the financial services provider’s stock valued at $10,802,000 after buying an additional 1,500 shares during the period. Copper Rock Capital Partners LLC lifted its stake in Prudential Financial by 72.0% in the fourth quarter. Copper Rock Capital Partners LLC now owns 96,162 shares of the financial services provider’s stock valued at $11,078,000 after buying an additional 40,250 shares during the period. Finally, Washington Trust Bank lifted its stake in Prudential Financial by 5.2% in the fourth quarter. Washington Trust Bank now owns 65,392 shares of the financial services provider’s stock valued at $7,519,000 after buying an additional 3,206 shares during the period. 64.46% of the stock is currently owned by institutional investors.

In other news, insider Nicholas C. Silitch sold 44,860 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $111.77, for a total transaction of $5,014,002.20. Following the completion of the sale, the insider now owns 27,927 shares in the company, valued at $3,121,400.79. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Charles F. Lowrey sold 44,630 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $111.91, for a total value of $4,994,543.30. Following the sale, the executive vice president now owns 79,354 shares of the company’s stock, valued at approximately $8,880,506.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 116,818 shares of company stock valued at $13,154,122. Corporate insiders own 0.66% of the company’s stock.

PRU has been the topic of several recent analyst reports. Citigroup raised Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 price target on the stock in a research note on Tuesday, October 17th. Morgan Stanley boosted their price target on Prudential Financial from $118.00 to $123.00 and gave the company an “equal weight” rating in a research note on Thursday, October 5th. Royal Bank of Canada reissued a “hold” rating and issued a $119.00 price target on shares of Prudential Financial in a research note on Friday, November 3rd. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $127.00 price target on shares of Prudential Financial in a research note on Thursday, December 21st. Finally, Sandler O’Neill reissued a “buy” rating and issued a $134.00 price target on shares of Prudential Financial in a research note on Thursday. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $119.35.

Shares of Prudential Financial Inc (NYSE:PRU) opened at $124.12 on Friday. The company has a market capitalization of $52,457.28, a P/E ratio of 11.95, a PEG ratio of 1.29 and a beta of 1.55. Prudential Financial Inc has a 1-year low of $97.88 and a 1-year high of $125.00. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.34.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.71 by $0.30. The firm had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $12.24 billion. Prudential Financial had a return on equity of 9.51% and a net margin of 7.71%. During the same quarter in the previous year, the company posted $2.66 earnings per share. sell-side analysts expect that Prudential Financial Inc will post 10.49 EPS for the current year.

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

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 14th. Stockholders of record on Monday, November 27th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, November 24th. This represents a $3.00 annualized dividend and a dividend yield of 2.42%. Prudential Financial’s dividend payout ratio is 30.18%.

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Prudential Financial Company 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.

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

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