Buckingham Capital Management Inc. Cuts Holdings in Prudential Financial, Inc. (PRU)
Buckingham Capital Management Inc. lowered its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,708 shares of the financial services provider’s stock after selling 880 shares during the period. Buckingham Capital Management Inc.’s holdings in Prudential Financial were worth $1,989,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Fieldpoint Private Securities LLC acquired a new position in Prudential Financial during the second quarter worth about $103,000. Hudock Capital Group LLC raised its position in shares of Prudential Financial by 0.7% in the second quarter. Hudock Capital Group LLC now owns 1,144 shares of the financial services provider’s stock valued at $123,000 after buying an additional 8 shares during the last quarter. Legacy Advisors LLC acquired a new position in shares of Prudential Financial in the third quarter valued at approximately $129,000. Accurate Investment Solutions Inc. raised its position in shares of Prudential Financial by 2.3% in the second quarter. Accurate Investment Solutions Inc. now owns 1,664 shares of the financial services provider’s stock valued at $180,000 after buying an additional 38 shares during the last quarter. Finally, Advisory Services Network LLC raised its position in shares of Prudential Financial by 128.8% in the second quarter. Advisory Services Network LLC now owns 1,700 shares of the financial services provider’s stock valued at $184,000 after buying an additional 957 shares during the last quarter. Institutional investors own 64.48% of the company’s stock.
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Prudential Financial, Inc. (NYSE PRU) traded up $0.15 on Friday, reaching $110.37. 1,857,500 shares of the company’s stock traded hands, compared to its average volume of 1,857,134. 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, Inc. has a 12 month low of $97.53 and a 12 month high of $115.26. The stock has a market capitalization of $47,610.00, a P/E ratio of 10.65, a P/E/G ratio of 1.25 and a beta of 1.56.
Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.30. Prudential Financial had a net margin of 7.71% and a return on equity of 9.51%. The company had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $12.24 billion. During the same period in the previous year, the firm earned $2.66 earnings per share. equities research analysts anticipate that Prudential Financial, Inc. will post 10.38 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Monday, November 27th will be paid a dividend of $0.75 per share. The ex-dividend date is Friday, November 24th. This represents a $3.00 annualized dividend and a yield of 2.72%. Prudential Financial’s dividend payout ratio is currently 30.24%.
In other Prudential Financial news, insider Nicholas C. Silitch sold 44,860 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were 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 directly owns 27,927 shares in the company, valued at $3,121,400.79. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Charles F. Lowrey sold 44,630 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $111.91, for a total transaction of $4,994,543.30. Following the sale, the executive vice president now owns 79,354 shares of the company’s stock, valued at $8,880,506.14. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.
PRU has been the subject of a number of analyst reports. Citigroup Inc. raised shares of Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 price objective for the company in a research report on Tuesday, October 17th. Morgan Stanley boosted their price objective on shares of Prudential Financial from $118.00 to $123.00 and gave the company an “equal weight” rating in a research report on Thursday, October 5th. Royal Bank Of Canada reissued a “hold” rating and issued a $119.00 price objective on shares of Prudential Financial in a research report on Friday, November 3rd. Wells Fargo & Company reissued a “hold” rating on shares of Prudential Financial in a research report on Thursday, August 3rd. Finally, BidaskClub raised shares of Prudential Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Prudential Financial presently has a consensus rating of “Buy” and an average price target of $115.13.
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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