1,103 Shares in Prudential Financial Inc (PRU) Purchased by Cerebellum GP LLC
Cerebellum GP LLC acquired a new position in Prudential Financial Inc (NYSE:PRU) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,103 shares of the financial services provider’s stock, valued at approximately $127,000.
Other institutional investors have also bought and sold shares of the company. First American Bank lifted its position in Prudential Financial by 6.4% during the 4th quarter. First American Bank now owns 28,487 shares of the financial services provider’s stock worth $3,275,000 after acquiring an additional 1,701 shares during the period. James Investment Research Inc. lifted its position in Prudential Financial by 62,500.0% during the 4th quarter. James Investment Research Inc. now owns 15,024 shares of the financial services provider’s stock worth $1,727,000 after acquiring an additional 15,000 shares during the period. Bowling Portfolio Management LLC acquired a new stake in Prudential Financial during the 4th quarter worth about $1,851,000. UMB Bank N A MO lifted its position in Prudential Financial by 5.7% during the 4th quarter. UMB Bank N A MO now owns 14,296 shares of the financial services provider’s stock worth $1,644,000 after acquiring an additional 776 shares during the period. Finally, Oakworth Capital Inc. lifted its position in Prudential Financial by 27.4% during the 4th quarter. Oakworth Capital Inc. now owns 2,526 shares of the financial services provider’s stock worth $293,000 after acquiring an additional 543 shares during the period. 64.50% of the stock is owned by hedge funds and other institutional investors.
Prudential Financial Inc (NYSE PRU) opened at $126.02 on Friday. The firm has a market capitalization of $54,240.00, a PE ratio of 12.70, a price-to-earnings-growth ratio of 1.27 and a beta of 1.55. Prudential Financial Inc has a 52 week low of $97.88 and a 52 week high of $126.02. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.13 and a current ratio of 0.13.
Prudential Financial declared that its Board of Directors has authorized a stock buyback plan on Thursday, December 14th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
In related news, SVP Barbara Koster sold 16,801 shares of Prudential Financial stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $115.17, for a total value of $1,934,971.17. Following the completion of the transaction, the senior vice president now owns 37,327 shares in the company, valued at approximately $4,298,950.59. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nicholas C. Silitch sold 44,860 shares of Prudential Financial 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 transaction, the insider now owns 27,927 shares of the company’s stock, valued at approximately $3,121,400.79. 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 quarter. Company insiders own 0.66% of the company’s stock.
A number of analysts have commented on the company. Sandler O’Neill reaffirmed a “buy” rating and set a $134.00 price target on shares of Prudential Financial in a research report on Thursday, January 11th. Atlantic Securities raised Prudential Financial from a “neutral” rating to an “overweight” rating in a research report on Thursday, January 11th. Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a research report on Monday, January 8th. Deutsche Bank assumed coverage on Prudential Financial in a research report on Tuesday, January 2nd. They set a “hold” rating and a $124.00 price target for the company. Finally, ValuEngine raised Prudential Financial from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $119.35.
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Prudential Financial Company 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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