Prudential Financial, Inc. (PRU) Holdings Reduced by Cetera Advisors LLC
Cetera Advisors LLC reduced its stake in Prudential Financial, Inc. (NYSE:PRU) by 20.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,828 shares of the financial services provider’s stock after selling 728 shares during the period. Cetera Advisors LLC’s holdings in Prudential Financial were worth $301,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the business. Yellowstone Partners LLC purchased a new position in shares of Prudential Financial during the third quarter worth approximately $702,000. Fieldpoint Private Securities LLC grew its position in shares of Prudential Financial by 173.1% during the third quarter. Fieldpoint Private Securities LLC now owns 2,594 shares of the financial services provider’s stock worth $276,000 after acquiring an additional 1,644 shares during the last quarter. Dana Investment Advisors Inc. grew its position in shares of Prudential Financial by 3.7% during the third quarter. Dana Investment Advisors Inc. now owns 287,298 shares of the financial services provider’s stock worth $30,546,000 after acquiring an additional 10,188 shares during the last quarter. Afam Capital Inc. grew its position in shares of Prudential Financial by 0.6% during the third quarter. Afam Capital Inc. now owns 87,943 shares of the financial services provider’s stock worth $9,350,000 after acquiring an additional 520 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its position in shares of Prudential Financial by 1.6% during the third quarter. Neuberger Berman Group LLC now owns 52,860 shares of the financial services provider’s stock worth $5,620,000 after acquiring an additional 852 shares during the last quarter. Institutional investors own 64.65% of the company’s stock.
In other Prudential Financial news, EVP Charles F. Lowrey sold 44,630 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $111.91, for a total value of $4,994,543.30. Following the completion of the sale, the executive vice president now owns 79,354 shares of the company’s stock, valued at $8,880,506.14. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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. In the last three months, insiders sold 100,017 shares of company stock valued at $11,219,151. 0.66% of the stock is owned by corporate insiders.
Shares of Prudential Financial, Inc. (NYSE PRU) opened at $115.73 on Friday. 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 fifty-two week low of $97.88 and a fifty-two week high of $117.99. The firm has a market capitalization of $48,535.28, a price-to-earnings ratio of 11.06, a P/E/G ratio of 1.29 and a beta of 1.55.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.71 by $0.30. Prudential Financial had a return on equity of 9.51% and a net margin of 7.71%. The firm had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $12.24 billion. During the same period last year, the company earned $2.66 earnings per share. analysts anticipate that Prudential Financial, Inc. will post 10.44 EPS for the current year.
Prudential Financial announced that its board has approved a share repurchase plan on Thursday, December 14th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 14th. Shareholders of record on Monday, November 27th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend was Friday, November 24th. Prudential Financial’s dividend payout ratio (DPR) is currently 30.18%.
A number of equities analysts have recently issued reports on the stock. ValuEngine upgraded shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 5th. Wells Fargo & Company set a $122.00 target price on shares of Prudential Financial and gave the stock a “hold” rating in a research report on Thursday. Royal Bank of Canada restated a “hold” rating and set a $119.00 target price on shares of Prudential Financial in a research report on Friday, November 3rd. B. Riley reaffirmed a “buy” rating on shares of Prudential Financial in a report on Monday, November 6th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Prudential Financial in a report on Friday, November 10th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $115.78.
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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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