State of Alaska Department of Revenue lifted its holdings in Prudential Financial Inc (NYSE:PRU) by 2.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 120,254 shares of the financial services provider’s stock after purchasing an additional 3,222 shares during the period. State of Alaska Department of Revenue’s holdings in Prudential Financial were worth $9,804,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. NEXT Financial Group Inc purchased a new stake in Prudential Financial in the 3rd quarter worth approximately $232,000. IFM Investors Pty Ltd increased its holdings in Prudential Financial by 16.7% in the 3rd quarter. IFM Investors Pty Ltd now owns 22,260 shares of the financial services provider’s stock worth $2,255,000 after acquiring an additional 3,186 shares in the last quarter. Putnam Investments LLC increased its holdings in Prudential Financial by 4.3% in the 2nd quarter. Putnam Investments LLC now owns 382,036 shares of the financial services provider’s stock worth $35,724,000 after acquiring an additional 15,636 shares in the last quarter. Summit Financial Wealth Advisors LLC purchased a new stake in Prudential Financial in the 3rd quarter worth approximately $3,965,000. Finally, Sheaff Brock Investment Advisors LLC increased its holdings in Prudential Financial by 2,043.7% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 68,406 shares of the financial services provider’s stock worth $6,931,000 after acquiring an additional 65,215 shares in the last quarter. Hedge funds and other institutional investors own 63.40% of the company’s stock.
Shares of PRU opened at $87.31 on Friday. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.37. Prudential Financial Inc has a 1 year low of $75.61 and a 1 year high of $127.14. The company has a market cap of $35.88 billion, a price-to-earnings ratio of 8.25, a P/E/G ratio of 0.75 and a beta of 1.40.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 13th. Stockholders of record on Monday, November 26th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Friday, November 23rd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.12%. Prudential Financial’s dividend payout ratio is currently 34.03%.
Several equities research analysts recently issued reports on PRU shares. ValuEngine lowered shares of Prudential Financial from a “sell” rating to a “strong sell” rating in a report on Friday, November 16th. Zacks Investment Research reissued a “sell” rating on shares of Prudential Financial in a report on Monday, December 31st. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $113.00 target price on shares of Prudential Financial in a report on Wednesday. UBS Group increased their target price on shares of Prudential Financial from $125.00 to $126.00 and gave the stock a “buy” rating in a report on Monday, October 8th. Finally, Evercore ISI raised shares of Prudential Financial from an “in-line” rating to an “outperform” rating and set a $85.50 target price for the company in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $115.61.
In other news, major shareholder Prudential Financial Inc bought 880,000 shares of the stock in a transaction dated Tuesday, October 16th. The stock was purchased at an average cost of $25.00 per share, for a total transaction of $22,000,000.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have bought a total of 880,315 shares of company stock valued at $22,026,194 over the last quarter. Corporate insiders own 0.61% of the company’s stock.
About Prudential Financial
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through U.S. Individual Solutions, U.S. Workplace Solutions, Investment Management, and International Insurance divisions.
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