Yellowstone Partners LLC Invests $702,000 in Prudential Financial, Inc. (PRU)
Yellowstone Partners LLC purchased a new position in Prudential Financial, Inc. (NYSE:PRU) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 6,602 shares of the financial services provider’s stock, valued at approximately $702,000.
Several other large investors have also added to or reduced their stakes in the stock. Fieldpoint Private Securities LLC bought a new stake in Prudential Financial in the second quarter valued at about $103,000. Grove Bank & Trust increased its holdings in Prudential Financial by 507.0% in the third quarter. Grove Bank & Trust now owns 1,129 shares of the financial services provider’s stock valued at $120,000 after buying an additional 943 shares during the last quarter. Hudock Capital Group LLC increased its holdings in 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 bought a new stake in Prudential Financial in the third quarter valued at about $129,000. Finally, Zions Bancorporation increased its holdings in Prudential Financial by 44.9% in the third quarter. Zions Bancorporation now owns 1,690 shares of the financial services provider’s stock valued at $180,000 after buying an additional 524 shares during the last quarter. Institutional investors and hedge funds own 64.65% of the company’s stock.
Several analysts recently weighed in on PRU shares. Royal Bank of Canada reissued a “hold” rating and issued a $119.00 price objective on shares of Prudential Financial in a report on Friday, November 3rd. Morgan Stanley boosted their price objective on Prudential Financial from $123.00 to $124.00 and gave the company an “equal weight” rating in a report on Thursday, November 2nd. Goldman Sachs Group started coverage on Prudential Financial in a report on Wednesday, October 18th. They issued a “neutral” rating and a $114.00 price objective for the company. Citigroup raised Prudential Financial from a “neutral” rating to a “buy” rating and set a $103.00 price objective for the company in a report on Tuesday, October 17th. Finally, Wells Fargo & Company reissued a “hold” rating and issued a $120.00 price objective (up from $114.00) on shares of Prudential Financial in a report on Wednesday, November 8th. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Prudential Financial presently has an average rating of “Buy” and an average price target of $115.64.
In other news, EVP Timothy P. Harris sold 10,527 shares of the company’s stock in a transaction that occurred on 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicholas C. Silitch sold 44,860 shares of the company’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 value of $5,014,002.20. Following the transaction, the insider now directly owns 27,927 shares of the company’s stock, valued at $3,121,400.79. The disclosure for this sale can be found here. Insiders have sold 100,017 shares of company stock valued at $11,219,151 over the last ninety days. Corporate insiders own 0.66% of the company’s stock.
Prudential Financial, Inc. (NYSE:PRU) traded up $0.13 during trading hours on Wednesday, hitting $116.39. The stock had a trading volume of 1,841,900 shares, compared to its average volume of 1,842,970. The company has a market capitalization of $49,294.24, a price-to-earnings ratio of 11.23, a PEG ratio of 1.31 and a beta of 1.55. Prudential Financial, Inc. has a 52 week low of $97.88 and a 52 week high of $117.99. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.13 and a quick ratio of 0.13.
Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, November 1st. The financial services provider reported $3.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.71 by $0.30. The company had revenue of $13.36 billion during the quarter, compared to analyst estimates of $12.24 billion. Prudential Financial had a return on equity of 9.51% and a net margin of 7.71%. During the same period in the prior year, the company earned $2.66 earnings per share. sell-side analysts forecast that Prudential Financial, Inc. will post 10.44 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Monday, November 27th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Friday, November 24th. Prudential Financial’s dividend payout ratio (DPR) is presently 30.18%.
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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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