Flinton Capital Management LLC trimmed its holdings in shares of Prudential Financial Inc (NYSE:PRU) by 39.5% in the fourth quarter, Holdings Channel reports. The firm owned 75,808 shares of the financial services provider’s stock after selling 49,584 shares during the period. Flinton Capital Management LLC’s holdings in Prudential Financial were worth $8,716,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of PRU. Victory Capital Management Inc. increased its position in shares of Prudential Financial by 35.7% during the 3rd quarter. Victory Capital Management Inc. now owns 88,236 shares of the financial services provider’s stock worth $9,381,000 after purchasing an additional 23,200 shares during the last quarter. American Century Companies Inc. increased its position in shares of Prudential Financial by 13.6% during the 3rd quarter. American Century Companies Inc. now owns 26,267 shares of the financial services provider’s stock worth $2,793,000 after purchasing an additional 3,153 shares during the last quarter. Alps Advisors Inc. boosted its holdings in Prudential Financial by 18.7% during the 3rd quarter. Alps Advisors Inc. now owns 7,366 shares of the financial services provider’s stock valued at $783,000 after acquiring an additional 1,159 shares during the period. Sei Investments Co. boosted its holdings in Prudential Financial by 19.3% during the 3rd quarter. Sei Investments Co. now owns 82,017 shares of the financial services provider’s stock valued at $8,720,000 after acquiring an additional 13,289 shares during the period. Finally, Toronto Dominion Bank boosted its holdings in Prudential Financial by 11.3% during the 3rd quarter. Toronto Dominion Bank now owns 164,406 shares of the financial services provider’s stock valued at $17,477,000 after acquiring an additional 16,701 shares during the period. 66.79% of the stock is owned by hedge funds and other institutional investors.
Prudential Financial Inc (NYSE:PRU) opened at $109.60 on Wednesday. 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 stock has a market capitalization of $46,373.58, a PE ratio of 6.12, a PEG ratio of 1.14 and a beta of 1.54. Prudential Financial Inc has a 52 week low of $97.88 and a 52 week high of $127.14.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 21st will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is 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 declared that its Board of Directors has initiated 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 buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
PRU has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Prudential Financial from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a report on Monday, January 8th. Wells Fargo & Co set a $122.00 target price on Prudential Financial and gave the company a “hold” rating in a report on Thursday, December 14th. ValuEngine upgraded Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Deutsche Bank initiated coverage on Prudential Financial in a report on Tuesday, January 2nd. They set a “hold” rating and a $124.00 target price for the company. Finally, Morgan Stanley lowered their target price on Prudential Financial from $133.00 to $131.00 and set an “equal weight” rating for the company in a report on Thursday, February 8th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $118.45.
In other news, insider Stephen Pelletier sold 40,729 shares of Prudential Financial stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $108.75, for a total value of $4,429,278.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Barbara Koster sold 16,801 shares of Prudential Financial 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 transaction, the senior vice president now owns 37,327 shares of the company’s stock, valued at approximately $4,298,950.59. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.
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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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