Oakworth Capital Inc. Has $293,000 Position in Prudential Financial Inc (PRU)
Oakworth Capital Inc. increased its holdings in Prudential Financial Inc (NYSE:PRU) by 27.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,526 shares of the financial services provider’s stock after acquiring an additional 543 shares during the period. Oakworth Capital Inc.’s holdings in Prudential Financial were worth $293,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. Green Square Capital LLC grew its position in Prudential Financial by 0.3% in the second quarter. Green Square Capital LLC now owns 2,065 shares of the financial services provider’s stock worth $223,000 after acquiring an additional 7 shares during the period. Security National Bank of SO Dak grew its position in Prudential Financial by 3.3% in the second quarter. Security National Bank of SO Dak now owns 4,539 shares of the financial services provider’s stock worth $491,000 after acquiring an additional 145 shares during the period. Horizon Investment Services LLC grew its position in Prudential Financial by 9.8% in the second quarter. Horizon Investment Services LLC now owns 2,199 shares of the financial services provider’s stock worth $238,000 after acquiring an additional 196 shares during the period. Afam Capital Inc. grew its position in Prudential Financial by 0.3% in the second quarter. Afam Capital Inc. now owns 87,423 shares of the financial services provider’s stock worth $9,454,000 after acquiring an additional 247 shares during the period. Finally, Signet Financial Management LLC grew its position in Prudential Financial by 4.6% in the second quarter. Signet Financial Management LLC now owns 9,553 shares of the financial services provider’s stock worth $1,033,000 after acquiring an additional 419 shares during the period. Institutional investors own 64.50% of the company’s stock.
In related news, SVP Barbara Koster sold 16,801 shares of Prudential Financial 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 completion of the transaction, the senior vice president now directly owns 37,327 shares in the company, valued at $4,298,950.59. The transaction was disclosed in a document filed with the SEC, which is available at 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 value of $1,210,605.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 116,818 shares of company stock valued at $13,154,122. 0.66% of the stock is currently owned by company insiders.
Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.01 EPS for the quarter, topping the consensus estimate of $2.71 by $0.30. The business had revenue of $13.36 billion during the quarter, compared to analyst estimates of $12.24 billion. Prudential Financial had a return on equity of 9.51% and a net margin of 7.71%. During the same period last year, the business posted $2.66 earnings per share. research analysts expect that Prudential Financial Inc will post 10.49 earnings per share for the current year.
Prudential Financial announced that its board has authorized a share buyback plan on Thursday, December 14th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
PRU has been the subject of several analyst reports. Royal Bank of Canada reiterated a “hold” rating and issued a $119.00 price objective on shares of Prudential Financial in a research report on Friday, November 3rd. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $127.00 price objective on shares of Prudential Financial in a research report on Thursday, December 21st. Morgan Stanley increased their price objective on Prudential Financial from $123.00 to $124.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 2nd. Goldman Sachs Group began coverage on Prudential Financial in a research report on Wednesday, October 18th. They set a “neutral” rating and a $114.00 price target for the company. Finally, Citigroup upgraded Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 price target for the company in a research report on Tuesday, October 17th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Prudential Financial presently 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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