Cadence Bank NA acquired a new stake in Prudential Financial Inc (NYSE:PRU) in the 4th quarter, Holdings Channel reports. The firm acquired 2,587 shares of the financial services provider’s stock, valued at approximately $297,000.

Other hedge funds have also added to or reduced their stakes in the company. FTB Advisors Inc. lifted its stake in shares of Prudential Financial by 232.2% in the 4th quarter. FTB Advisors Inc. now owns 1,073 shares of the financial services provider’s stock valued at $124,000 after purchasing an additional 750 shares during the last quarter. Cerebellum GP LLC acquired a new stake in shares of Prudential Financial in the 4th quarter valued at $127,000. Grove Bank & Trust lifted its stake 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 valued at $120,000 after purchasing an additional 943 shares during the last quarter. Legacy Advisors LLC acquired a new stake in shares of Prudential Financial in the 3rd quarter valued at $129,000. Finally, Zions Bancorporation lifted its stake 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 valued at $180,000 after purchasing an additional 524 shares during the last quarter. 64.57% of the stock is owned by institutional investors and hedge funds.

Several research firms recently issued reports on PRU. Sandler O’Neill reaffirmed a “buy” rating and issued a $134.00 price objective on shares of Prudential Financial in a research note on Thursday, January 11th. Atlantic Securities raised shares of Prudential Financial from a “neutral” rating to an “overweight” rating in a research note on Thursday, January 11th. Zacks Investment Research raised shares of 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, January 8th. Deutsche Bank assumed coverage on shares of Prudential Financial in a research report on Tuesday, January 2nd. They set a “hold” rating and a $124.00 target price for the company. Finally, ValuEngine raised shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Prudential Financial currently has a consensus rating of “Buy” and a consensus price target of $119.35.

In other news, SVP Barbara Koster sold 16,801 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $115.17, for a total transaction of $1,934,971.17. Following the completion of the transaction, the senior vice president now owns 37,327 shares of the company’s stock, valued at $4,298,950.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Charles F. Lowrey sold 44,630 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $111.91, for a total transaction of $4,994,543.30. Following the transaction, the executive vice president now directly owns 79,354 shares of the company’s stock, valued at approximately $8,880,506.14. The disclosure for this sale can be found here. Insiders have sold 116,818 shares of company stock valued at $13,154,122 in the last ninety days. 0.66% of the stock is owned by company insiders.

Prudential Financial Inc (PRU) opened at $117.33 on Friday. The company has a market cap of $51,100.48, a PE ratio of 11.80, a PEG ratio of 1.23 and a beta of 1.50. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.34. Prudential Financial Inc has a 52-week low of $97.88 and a 52-week high of $127.14.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.01 EPS for the quarter, beating the Zacks’ consensus estimate of $2.71 by $0.30. The business had revenue of $13.36 billion during the quarter, compared to analyst estimates of $12.24 billion. Prudential Financial had a net margin of 7.71% and a return on equity of 9.51%. During the same quarter in the prior year, the business earned $2.66 earnings per share. sell-side analysts forecast that Prudential Financial Inc will post 10.49 EPS for the current fiscal year.

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

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

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