Prudential Financial, Inc. (PRU) Shares Bought by Atlantic Trust Group LLC

Atlantic Trust Group LLC lifted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 0.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,248,069 shares of the financial services provider’s stock after purchasing an additional 7,299 shares during the period. Atlantic Trust Group LLC owned 0.29% of Prudential Financial worth $132,694,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PRU. BlackRock Inc. raised its position in shares of Prudential Financial by 2.9% during the second quarter. BlackRock Inc. now owns 33,155,309 shares of the financial services provider’s stock worth $3,585,415,000 after purchasing an additional 934,352 shares during the period. Vanguard Group Inc. grew its stake in Prudential Financial by 2.0% in the second quarter. Vanguard Group Inc. now owns 30,885,285 shares of the financial services provider’s stock valued at $3,339,935,000 after purchasing an additional 612,799 shares in the last quarter. Capital Research Global Investors grew its stake in Prudential Financial by 1.2% in the second quarter. Capital Research Global Investors now owns 13,662,673 shares of the financial services provider’s stock valued at $1,477,481,000 after purchasing an additional 162,833 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Prudential Financial by 11.9% in the second quarter. Ameriprise Financial Inc. now owns 4,157,881 shares of the financial services provider’s stock valued at $449,637,000 after purchasing an additional 442,168 shares in the last quarter. Finally, LSV Asset Management grew its stake in Prudential Financial by 1.0% in the second quarter. LSV Asset Management now owns 3,372,864 shares of the financial services provider’s stock valued at $364,741,000 after purchasing an additional 32,998 shares in the last quarter. Institutional investors own 64.46% of the company’s stock.

In other Prudential Financial news, EVP Timothy P. Harris sold 10,527 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $115.00, for a total value of $1,210,605.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Nicholas C. Silitch sold 44,860 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now owns 27,927 shares in the company, valued at approximately $3,121,400.79. The disclosure for this sale can be found here. Insiders have sold a total of 100,017 shares of company stock worth $11,219,151 in the last 90 days. 0.66% of the stock is currently owned by corporate insiders.

A number of research firms have weighed in on PRU. Wells Fargo & Company set a $122.00 price target on Prudential Financial and gave the company a “hold” rating in a research note on Thursday, December 14th. Morgan Stanley raised their price target on Prudential Financial from $123.00 to $124.00 and gave the company 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. ValuEngine downgraded Prudential Financial from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 10th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $121.00 target price on shares of Prudential Financial in a research note on Monday, October 16th. Seven investment 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. The stock has a consensus rating of “Buy” and a consensus price target of $116.92.

Shares of Prudential Financial, Inc. (NYSE:PRU) traded up $0.25 on Thursday, hitting $117.11. The stock had a trading volume of 2,140,200 shares, compared to its average volume of 1,848,109. Prudential Financial, Inc. has a one year low of $97.88 and a one year high of $118.17. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.13 and a current ratio of 0.13. The company has a market cap of $49,548.64, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 1.40 and a beta of 1.55.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.30. The business had revenue of $13.36 billion for 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 quarter in the previous year, the company posted $2.66 EPS. equities analysts expect that Prudential Financial, Inc. will post 10.44 earnings per share for the current fiscal year.

Prudential Financial announced that its board has approved a share repurchase plan on Thursday, December 14th that authorizes the company to repurchase $1.50 billion in outstanding 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 management believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 14th. Investors of record on Monday, November 27th were given a dividend of $0.75 per share. The ex-dividend date was Friday, November 24th. This represents a $3.00 dividend on an annualized basis and a yield of 2.56%. Prudential Financial’s dividend payout ratio is currently 30.18%.

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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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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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