Gillespie Robinson & Grimm Inc. Raises Stake in Prudential Financial Inc (PRU)

Gillespie Robinson & Grimm Inc. lifted its position in Prudential Financial Inc (NYSE:PRU) by 67.2% in the 4th quarter, HoldingsChannel reports. The fund owned 5,599 shares of the financial services provider’s stock after acquiring an additional 2,250 shares during the period. Gillespie Robinson & Grimm Inc.’s holdings in Prudential Financial were worth $644,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fieldpoint Private Securities LLC acquired a new position in shares of Prudential Financial in the 2nd quarter worth approximately $103,000. Grove Bank & Trust grew its position in shares of Prudential Financial by 507.0% in the 3rd quarter. Grove Bank & Trust now owns 1,129 shares of the financial services provider’s stock worth $120,000 after acquiring an additional 943 shares in the last quarter. Legacy Advisors LLC acquired a new position in shares of Prudential Financial in the 3rd quarter worth approximately $129,000. Zions Bancorporation grew its position in shares of Prudential Financial by 44.9% in the 3rd quarter. Zions Bancorporation now owns 1,690 shares of the financial services provider’s stock worth $180,000 after acquiring an additional 524 shares in the last quarter. Finally, Advisory Services Network LLC grew its position in shares of Prudential Financial by 128.8% in the 2nd quarter. Advisory Services Network LLC now owns 1,700 shares of the financial services provider’s stock worth $184,000 after acquiring an additional 957 shares in the last quarter. Institutional investors own 64.46% of the company’s stock.

Prudential Financial Inc (PRU) traded up $1.39 during trading hours on Wednesday, reaching $119.00. The company had a trading volume of 2,536,200 shares, compared to its average volume of 1,871,033. Prudential Financial Inc has a twelve month low of $97.88 and a twelve month high of $119.70. The firm has a market cap of $52,140.00, a price-to-earnings ratio of 12.00, a P/E/G ratio of 1.27 and a beta of 1.55. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.34.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.71 by $0.30. Prudential Financial had a return on equity of 9.51% and a net margin of 7.71%. The business had revenue of $13.36 billion during the quarter, compared to analyst estimates of $12.24 billion. During the same quarter in the previous year, the firm posted $2.66 EPS. sell-side analysts forecast that Prudential Financial Inc will post 10.48 EPS for the current fiscal year.

The business 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 of this dividend was Friday, November 24th. This represents a $3.00 dividend on an annualized basis and a yield of 2.52%. Prudential Financial’s dividend payout ratio is currently 30.24%.

Prudential Financial announced that its Board of Directors has authorized a stock repurchase plan on Thursday, December 14th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Several brokerages have recently commented on PRU. 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 research report on Monday. Deutsche Bank began coverage on Prudential Financial in a research report on Tuesday, January 2nd. They issued a “hold” rating and a $124.00 target price for the company. Wells Fargo & Co reiterated a “hold” rating and issued a $120.00 target price (up previously from $114.00) on shares of Prudential Financial in a research report on Wednesday, November 8th. ValuEngine upgraded Prudential Financial from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Finally, FBR & Co upgraded Prudential Financial from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $117.00 to $100.00 in a research report on Tuesday, October 10th. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Prudential Financial currently has a consensus rating of “Buy” and a consensus target price of $118.22.

In other Prudential Financial news, EVP Timothy P. Harris sold 10,527 shares of Prudential Financial stock in a transaction 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Barbara Koster sold 16,801 shares of Prudential Financial stock in a transaction on 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 directly owns 37,327 shares in the company, valued at approximately $4,298,950.59. The disclosure for this sale can be found here. Insiders have sold a total of 116,818 shares of company stock valued at $13,154,122 in the last 90 days. 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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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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