ACG Wealth bought a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,236 shares of the financial services provider’s stock, valued at approximately $204,000.
Several other institutional investors have also recently made changes to their positions in the business. Avestar Capital LLC grew its position in Prudential Financial by 15.4% in the first quarter. Avestar Capital LLC now owns 3,766 shares of the financial services provider’s stock worth $376,000 after acquiring an additional 502 shares during the period. Oxler Private Wealth LLC increased its position in shares of Prudential Financial by 73.0% during the first quarter. Oxler Private Wealth LLC now owns 9,477 shares of the financial services provider’s stock worth $863,000 after purchasing an additional 4,000 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Prudential Financial by 32.7% during the first quarter. Signaturefd LLC now owns 10,669 shares of the financial services provider’s stock worth $972,000 after buying an additional 2,630 shares during the last quarter. MUFG Americas Holdings Corp grew its holdings in shares of Prudential Financial by 2.0% during the first quarter. MUFG Americas Holdings Corp now owns 29,319 shares of the financial services provider’s stock worth $2,671,000 after buying an additional 572 shares during the last quarter. Finally, Rosenberg Matthew Hamilton boosted its holdings in Prudential Financial by 60.6% in the 1st quarter. Rosenberg Matthew Hamilton now owns 710 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 268 shares in the last quarter. 54.50% of the stock is owned by institutional investors and hedge funds.
In related news, SVP Nicholas C. Silitch sold 8,200 shares of the firm’s stock in a transaction on Friday, March 5th. The shares were sold at an average price of $90.62, for a total value of $743,084.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kenneth Tanji sold 29,285 shares of the firm’s stock in a transaction on Monday, March 22nd. The stock was sold at an average price of $90.94, for a total transaction of $2,663,177.90. Following the completion of the sale, the chief financial officer now owns 36,477 shares in the company, valued at $3,317,218.38. The disclosure for this sale can be found here. Insiders have sold a total of 42,485 shares of company stock worth $3,876,812 in the last 90 days. 0.33% of the stock is owned by insiders.
PRU stock opened at $104.91 on Wednesday. Prudential Financial, Inc. has a 12-month low of $48.52 and a 12-month high of $108.56. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.30. The company has a market cap of $41.48 billion, a price-to-earnings ratio of -291.42, a PEG ratio of 1.72 and a beta of 1.72. The company has a 50 day moving average of $96.79 and a two-hundred day moving average of $83.98.
Prudential Financial (NYSE:PRU) last released its earnings results on Tuesday, May 4th. The financial services provider reported $4.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.75 by $1.36. Prudential Financial had a negative net margin of 0.12% and a positive return on equity of 6.06%. The company had revenue of $14.22 billion during the quarter, compared to the consensus estimate of $14.45 billion. During the same quarter in the prior year, the firm earned $2.32 EPS. On average, research analysts anticipate that Prudential Financial, Inc. will post 9.82 EPS for the current year.
Prudential Financial declared that its Board of Directors has approved a share repurchase plan on Tuesday, May 4th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the financial services provider to buy up to 1.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 17th. Stockholders of record on Tuesday, May 25th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.38%. Prudential Financial’s dividend payout ratio is currently 39.35%.
Prudential Financial Company Profile
Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block.
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