Willingdon Wealth Management Has $1.01 Million Stake in Prudential Financial Inc (PRU)
Willingdon Wealth Management grew its stake in Prudential Financial Inc (NYSE:PRU) by 14.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,806 shares of the financial services provider’s stock after acquiring an additional 1,123 shares during the quarter. Willingdon Wealth Management’s holdings in Prudential Financial were worth $1,013,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. APG Asset Management N.V. increased its holdings in shares of Prudential Financial by 171.8% in the 3rd quarter. APG Asset Management N.V. now owns 2,704,719 shares of the financial services provider’s stock valued at $287,566,000 after acquiring an additional 1,709,699 shares during the period. Legal & General Group Plc increased its holdings in shares of Prudential Financial by 2.3% in the 3rd quarter. Legal & General Group Plc now owns 2,341,330 shares of the financial services provider’s stock valued at $248,931,000 after acquiring an additional 52,597 shares during the period. Swiss National Bank increased its holdings in shares of Prudential Financial by 0.6% in the 3rd quarter. Swiss National Bank now owns 1,580,987 shares of the financial services provider’s stock valued at $168,091,000 after acquiring an additional 10,000 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Prudential Financial by 5.5% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,561,532 shares of the financial services provider’s stock valued at $179,545,000 after acquiring an additional 81,628 shares during the period. Finally, Bank of Montreal Can increased its holdings in shares of Prudential Financial by 4.9% in the 4th quarter. Bank of Montreal Can now owns 1,551,788 shares of the financial services provider’s stock valued at $178,423,000 after acquiring an additional 72,507 shares during the period. Institutional investors and hedge funds own 64.37% of the company’s stock.
Shares of Prudential Financial Inc (NYSE:PRU) opened at $106.66 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.13 and a current ratio of 0.13. The firm has a market capitalization of $46,420.00, a PE ratio of 5.97, a price-to-earnings-growth ratio of 1.09 and a beta of 1.49. Prudential Financial Inc has a one year low of $97.88 and a one year high of $127.14.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 21st will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 3.38%. The ex-dividend date is Tuesday, February 20th. This is an increase from Prudential Financial’s previous quarterly dividend of $0.75. Prudential Financial’s payout ratio is presently 16.80%.
Prudential Financial announced that its board has authorized a stock buyback plan on Thursday, December 14th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
A number of research analysts have recently issued reports on the company. Wells Fargo & Co set a $122.00 price target on Prudential Financial and gave the company a “hold” rating in a report on Thursday, December 14th. Atlantic Securities upgraded Prudential Financial from a “neutral” rating to an “overweight” rating in a research note on Thursday, January 11th. Morgan Stanley boosted their target price on Prudential Financial from $123.00 to $124.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 2nd. B. Riley restated a “buy” rating on shares of Prudential Financial in a research note on Monday, November 6th. Finally, Zacks Investment Research upgraded Prudential Financial from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research note on Monday, January 8th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $119.14.
In other Prudential Financial news, EVP Timothy P. Harris sold 10,527 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $115.00, for a total transaction of $1,210,605.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Barbara Koster sold 16,801 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $115.17, for a total value of $1,934,971.17. Following the sale, the senior vice president now owns 37,327 shares in the company, valued at approximately $4,298,950.59. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.
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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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