Tradition Capital Management LLC Has $2.66 Million Stake in Prudential Financial Inc (PRU)
Tradition Capital Management LLC lowered its holdings in shares of Prudential Financial Inc (NYSE:PRU) by 2.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 23,109 shares of the financial services provider’s stock after selling 466 shares during the period. Tradition Capital Management LLC’s holdings in Prudential Financial were worth $2,657,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. Community Bank N.A. raised its stake in shares of Prudential Financial by 269.7% during the fourth quarter. Community Bank N.A. now owns 1,353 shares of the financial services provider’s stock valued at $156,000 after acquiring an additional 987 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Prudential Financial by 386.4% during the fourth quarter. Teacher Retirement System of Texas now owns 322,308 shares of the financial services provider’s stock valued at $37,059,000 after acquiring an additional 256,049 shares during the last quarter. Canandaigua National Bank & Trust Co. bought a new position in shares of Prudential Financial during the fourth quarter valued at $217,000. ING Groep NV raised its stake in shares of Prudential Financial by 9.2% during the fourth quarter. ING Groep NV now owns 40,315 shares of the financial services provider’s stock valued at $4,635,000 after acquiring an additional 3,413 shares during the last quarter. Finally, Motco raised its stake in shares of Prudential Financial by 22,512.3% during the fourth quarter. Motco now owns 23,969 shares of the financial services provider’s stock valued at $2,756,000 after acquiring an additional 23,863 shares during the last quarter. 64.35% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on the stock. Wells Fargo & Co decreased their price objective on shares of Prudential Financial from $122.00 to $111.00 and set a “market perform” rating for the company in a research report on Friday. Morgan Stanley decreased their price objective on shares of Prudential Financial from $133.00 to $131.00 and set an “equal weight” rating for the company in a research report on Thursday. Sandler O’Neill reiterated a “buy” rating and set a $134.00 price objective on shares of Prudential Financial in a research report on Thursday, January 11th. B. Riley reiterated a “buy” rating on shares of Prudential Financial in a research report on Monday, November 6th. Finally, Goldman Sachs Group assumed coverage on shares of Prudential Financial in a research report on Wednesday, October 18th. They set a “neutral” rating and a $114.00 price objective for the company. Seven investment 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’s stock. The company has an average rating of “Buy” and an average price target of $119.06.
Shares of Prudential Financial Inc (NYSE:PRU) opened at $105.00 on Friday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.34. The company has a market cap of $47,136.08, a price-to-earnings ratio of 5.77, a price-to-earnings-growth ratio of 1.13 and a beta of 1.50. Prudential Financial Inc has a twelve month low of $97.88 and a twelve month high of $127.14.
Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $2.69 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.05. The business had revenue of $15.25 billion during the quarter, compared to analysts’ expectations of $12.87 billion. Prudential Financial had a net margin of 13.41% and a return on equity of 9.55%. During the same period last year, the company posted $2.46 earnings per share. equities analysts predict that Prudential Financial Inc will post 12.28 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 21st will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 3.43%. This is a boost from Prudential Financial’s previous quarterly dividend of $0.75. Prudential Financial’s dividend payout ratio (DPR) is presently 16.75%.
Prudential Financial declared that its Board of Directors has initiated a share repurchase 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. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
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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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