Oakbrook Investments LLC Has $2.53 Million Stake in Prudential Financial Inc (PRU)
Oakbrook Investments LLC lifted its stake in shares of Prudential Financial Inc (NYSE:PRU) by 27.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,025 shares of the financial services provider’s stock after purchasing an additional 4,725 shares during the period. Oakbrook Investments LLC’s holdings in Prudential Financial were worth $2,532,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in PRU. Stephens Inc. AR raised its stake in shares of Prudential Financial by 7.5% during the 2nd quarter. Stephens Inc. AR now owns 4,536 shares of the financial services provider’s stock worth $491,000 after purchasing an additional 315 shares in the last quarter. BT Investment Management Ltd bought a new stake in shares of Prudential Financial during the 2nd quarter worth approximately $962,000. Thrivent Financial For Lutherans raised its stake in shares of Prudential Financial by 3.3% during the 2nd quarter. Thrivent Financial For Lutherans now owns 17,556 shares of the financial services provider’s stock worth $1,903,000 after purchasing an additional 555 shares in the last quarter. Quantitative Investment Management LLC raised its stake in shares of Prudential Financial by 520.7% during the 2nd quarter. Quantitative Investment Management LLC now owns 72,000 shares of the financial services provider’s stock worth $7,786,000 after purchasing an additional 60,400 shares in the last quarter. Finally, Pinebridge Investments L.P. raised its stake in shares of Prudential Financial by 18.7% during the 2nd quarter. Pinebridge Investments L.P. now owns 6,557 shares of the financial services provider’s stock worth $709,000 after purchasing an additional 1,034 shares in the last quarter. Institutional investors own 64.50% of the company’s stock.
Prudential Financial Inc (NYSE:PRU) traded up $0.54 during mid-day trading on Thursday, hitting $123.98. The company had a trading volume of 745,392 shares, compared to its average volume of 1,845,455. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a market cap of $53,420.00, a price-to-earnings ratio of 12.50, a PEG ratio of 1.26 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.
Prudential Financial declared that its Board of Directors has approved a share repurchase plan on Thursday, December 14th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In other Prudential Financial news, SVP Barbara Koster sold 16,801 shares of the company’s stock in a transaction 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 transaction, the senior vice president now directly owns 37,327 shares of the company’s stock, valued at approximately $4,298,950.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Charles F. Lowrey sold 44,630 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 79,354 shares in the company, valued at $8,880,506.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 116,818 shares of company stock worth $13,154,122. Insiders own 0.66% of the company’s stock.
PRU has been the topic of a number of analyst reports. Morgan Stanley upped their price objective on Prudential Financial from $118.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 5th. FBR & Co upgraded Prudential Financial from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $117.00 to $100.00 in a research note on Tuesday, October 10th. Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $122.00 target price on the stock in a report on Tuesday, October 10th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $121.00 target price on shares of Prudential Financial in a report on Monday, October 16th. Finally, Citigroup raised Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 target price on the stock in a report on Tuesday, October 17th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average 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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