NBC Securities Inc. Invests $264,000 in Prudential Financial, Inc. (NYSE:PRU)

NBC Securities Inc. bought a new position in shares of Prudential Financial, Inc. (NYSE:PRUFree Report) in the third quarter, HoldingsChannel reports. The firm bought 2,792 shares of the financial services provider’s stock, valued at approximately $264,000.

A number of other large investors have also modified their holdings of the business. Woodward Diversified Capital LLC raised its stake in shares of Prudential Financial by 1.9% during the 2nd quarter. Woodward Diversified Capital LLC now owns 5,830 shares of the financial services provider’s stock worth $514,000 after buying an additional 108 shares in the last quarter. Hilltop Holdings Inc. increased its stake in Prudential Financial by 1.5% in the 2nd quarter. Hilltop Holdings Inc. now owns 7,917 shares of the financial services provider’s stock valued at $698,000 after purchasing an additional 116 shares in the last quarter. Retirement Planning Co of New England Inc. increased its stake in Prudential Financial by 3.1% in the 2nd quarter. Retirement Planning Co of New England Inc. now owns 3,950 shares of the financial services provider’s stock valued at $348,000 after purchasing an additional 118 shares in the last quarter. Northwest Bancshares Inc. increased its stake in Prudential Financial by 3.2% in the 2nd quarter. Northwest Bancshares Inc. now owns 3,888 shares of the financial services provider’s stock valued at $343,000 after purchasing an additional 119 shares in the last quarter. Finally, Private Portfolio Partners LLC increased its stake in Prudential Financial by 1.7% in the 2nd quarter. Private Portfolio Partners LLC now owns 7,149 shares of the financial services provider’s stock valued at $631,000 after purchasing an additional 119 shares in the last quarter. 54.92% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Trading Up 1.0 %

Shares of NYSE PRU opened at $106.62 on Wednesday. The stock’s 50 day moving average price is $102.09 and its two-hundred day moving average price is $96.97. Prudential Financial, Inc. has a 52-week low of $75.37 and a 52-week high of $107.31. The stock has a market capitalization of $38.49 billion, a P/E ratio of 68.79, a PEG ratio of 0.75 and a beta of 1.38. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.70.

Prudential Financial (NYSE:PRUGet Free Report) last announced its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.16 by $0.28. The firm had revenue of $10.13 billion for the quarter, compared to analysts’ expectations of $12.91 billion. Prudential Financial had a return on equity of 16.03% and a net margin of 1.21%. During the same quarter in the prior year, the firm posted $2.13 earnings per share. On average, analysts anticipate that Prudential Financial, Inc. will post 11.69 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 14th. Stockholders of record on Tuesday, November 21st were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 4.69%. The ex-dividend date of this dividend was Monday, November 20th. Prudential Financial’s dividend payout ratio (DPR) is presently 322.58%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PRU shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $118.00 price objective (down from $119.00) on shares of Prudential Financial in a research note on Wednesday, January 3rd. Morgan Stanley increased their target price on Prudential Financial from $103.00 to $105.00 and gave the company an “equal weight” rating in a report on Wednesday, November 15th. Deutsche Bank Aktiengesellschaft began coverage on Prudential Financial in a report on Wednesday, October 4th. They set a “hold” rating and a $99.00 target price on the stock. TheStreet cut Prudential Financial from a “b” rating to a “c” rating in a report on Wednesday, November 1st. Finally, UBS Group increased their target price on Prudential Financial from $97.00 to $108.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $104.80.

Read Our Latest Report on Prudential Financial

Insider Activity

In other news, CFO Kenneth Tanji sold 23,124 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $105.14, for a total transaction of $2,431,257.36. Following the completion of the transaction, the chief financial officer now directly owns 47,155 shares of the company’s stock, valued at $4,957,876.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Kenneth Tanji sold 23,124 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $105.14, for a total value of $2,431,257.36. Following the completion of the transaction, the chief financial officer now directly owns 47,155 shares of the company’s stock, valued at approximately $4,957,876.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Timothy L. Schmidt sold 8,281 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $94.49, for a total value of $782,471.69. Following the completion of the transaction, the senior vice president now directly owns 14,621 shares of the company’s stock, valued at $1,381,538.29. The disclosure for this sale can be found here. Corporate insiders own 0.37% of the company’s stock.

Prudential Financial Profile

(Free Report)

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, and International Businesses segments.

See Also

Want to see what other hedge funds are holding PRU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prudential Financial, Inc. (NYSE:PRUFree Report).

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

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