Xact Kapitalforvaltning AB Has $12.35 Million Stake in Prudential Financial Inc (PRU)
Xact Kapitalforvaltning AB lifted its holdings in shares of Prudential Financial Inc (NYSE:PRU) by 4.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 107,415 shares of the financial services provider’s stock after acquiring an additional 4,612 shares during the period. Xact Kapitalforvaltning AB’s holdings in Prudential Financial were worth $12,351,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its holdings in shares of Prudential Financial by 2.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 45,971 shares of the financial services provider’s stock worth $5,286,000 after acquiring an additional 1,161 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Prudential Financial by 22.0% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 286,686 shares of the financial services provider’s stock worth $32,963,000 after acquiring an additional 51,733 shares during the period. We Are One Seven LLC bought a new position in shares of Prudential Financial during the 4th quarter worth about $111,000. OLD Mutual Customised Solutions Proprietary Ltd. lifted its holdings in shares of Prudential Financial by 41.8% during the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 27,800 shares of the financial services provider’s stock worth $3,196,000 after acquiring an additional 8,200 shares during the period. Finally, Banco de Sabadell S.A bought a new position in shares of Prudential Financial during the 4th quarter worth about $1,758,000. 66.75% of the stock is owned by institutional investors.
Shares of Prudential Financial stock opened at $108.77 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a market cap of $45,955.80, a PE ratio of 10.29, a price-to-earnings-growth ratio of 1.13 and a beta of 1.54. Prudential Financial Inc has a 1 year low of $97.88 and a 1 year high of $127.14.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Wednesday, February 21st were given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend was Tuesday, February 20th. This is a boost from Prudential Financial’s previous quarterly dividend of $0.75. Prudential Financial’s dividend payout ratio (DPR) is presently 20.10%.
Prudential Financial announced that its board has authorized a stock repurchase plan on Thursday, December 14th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
Several equities analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Prudential Financial from a “hold” rating to a “sell” rating in a report on Tuesday. Sandler O’Neill reissued a “buy” rating and set a $134.00 price target on shares of Prudential Financial in a report on Thursday, January 11th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $128.00 price target on shares of Prudential Financial in a report on Friday, February 23rd. Royal Bank of Canada raised shares of Prudential Financial from a “sector perform” rating to an “outperform” rating in a report on Monday, February 12th. They noted that the move was a valuation call. Finally, Wells Fargo reissued a “hold” rating and set a $122.00 price target on shares of Prudential Financial in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Prudential Financial has an average rating of “Buy” and an average price target of $118.45.
In other Prudential Financial news, SVP Barbara Koster sold 16,801 shares of the firm’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 completion of the sale, the senior vice president now owns 37,327 shares in the company, valued at approximately $4,298,950.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen Pelletier sold 40,729 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $108.75, for a total transaction of $4,429,278.75. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.
Prudential Financial Company 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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