FourThought Financial LLC Acquires 1,150 Shares of Prudential Financial, Inc. (NYSE:PRU)

FourThought Financial LLC raised its holdings in shares of Prudential Financial, Inc. (NYSE:PRU – Get Rating) by 9.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,793 shares of the financial services provider’s stock after buying an additional 1,150 shares during the period. FourThought Financial LLC’s holdings in Prudential Financial were worth $1,183,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Kovack Advisors Inc. lifted its position in Prudential Financial by 26.1% during the third quarter. Kovack Advisors Inc. now owns 3,040 shares of the financial services provider’s stock valued at $261,000 after purchasing an additional 630 shares in the last quarter. Cetera Advisor Networks LLC raised its stake in Prudential Financial by 16.1% during the 2nd quarter. Cetera Advisor Networks LLC now owns 49,730 shares of the financial services provider’s stock worth $4,758,000 after acquiring an additional 6,912 shares during the period. Gradient Investments LLC boosted its position in shares of Prudential Financial by 90.4% in the third quarter. Gradient Investments LLC now owns 1,165 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 553 shares during the period. Mutual Advisors LLC boosted its holdings in Prudential Financial by 3.5% in the 2nd quarter. Mutual Advisors LLC now owns 20,012 shares of the financial services provider’s stock worth $1,915,000 after buying an additional 670 shares during the period. Finally, LPL Financial LLC boosted its stake in shares of Prudential Financial by 42.8% in the second quarter. LPL Financial LLC now owns 504,929 shares of the financial services provider’s stock worth $48,312,000 after acquiring an additional 151,430 shares during the period. Hedge funds and other institutional investors own 56.33% of the company’s stock.

Prudential Financial Price Performance

NYSE:PRU opened at $80.16 on Thursday. Prudential Financial, Inc. has a one year low of $78.47 and a one year high of $122.54. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.07 and a current ratio of 0.07. The firm has a market cap of $29.34 billion, a price-to-earnings ratio of -20.35, a PEG ratio of 0.57 and a beta of 1.41. The firm’s fifty day moving average is $99.17 and its two-hundred day moving average is $99.12.

Prudential Financial (NYSE:PRU – Get Rating) last issued its quarterly earnings data on Tuesday, February 7th. The financial services provider reported $2.42 EPS for the quarter, missing analysts’ consensus estimates of $2.57 by ($0.15). Prudential Financial had a positive return on equity of 13.31% and a negative net margin of 2.33%. The firm had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.78 billion. During the same period in the previous year, the business earned $3.18 EPS. Research analysts expect that Prudential Financial, Inc. will post 12.2 EPS for the current year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 16th. Stockholders of record on Tuesday, February 21st will be given a dividend of $1.25 per share. The ex-dividend date is Friday, February 17th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a dividend yield of 6.24%. Prudential Financial’s dividend payout ratio (DPR) is -126.90%.

Prudential Financial announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 7th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PRU shares. Barclays reduced their target price on Prudential Financial from $106.00 to $105.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 10th. Wells Fargo & Company increased their price target on Prudential Financial from $97.00 to $100.00 and gave the stock an “underweight” rating in a report on Monday, February 13th. StockNews.com began coverage on shares of Prudential Financial in a report on Thursday. They set a “hold” rating for the company. Citigroup raised their price target on Prudential Financial from $98.00 to $105.00 in a research note on Wednesday, November 16th. Finally, JPMorgan Chase & Co. lowered their target price on Prudential Financial from $118.00 to $114.00 and set a “neutral” rating for the company in a report on Wednesday, February 8th. Four equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $103.00.

Insider Buying and Selling

In other news, EVP Andrew F. Sullivan sold 4,126 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $99.20, for a total value of $409,299.20. Following the transaction, the executive vice president now owns 12,241 shares in the company, valued at $1,214,307.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Prudential Financial news, EVP Andrew F. Sullivan sold 11,405 shares of the firm’s stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $100.95, for a total value of $1,151,334.75. Following the transaction, the executive vice president now directly owns 12,300 shares of the company’s stock, valued at approximately $1,241,685. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew F. Sullivan sold 4,126 shares of the stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $99.20, for a total value of $409,299.20. Following the completion of the sale, the executive vice president now directly owns 12,241 shares of the company’s stock, valued at approximately $1,214,307.20. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Prudential Financial Profile

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Prudential Financial, Inc engages in the provision of insurance, investment management, and other financial products and services to both individual and institutional customers. It operates through the following segments: PGIM, U.S. Businesses, International Businesses, Closed Block, and Corporate and Others.