Palouse Capital Management Inc. trimmed its stake in shares of Prudential Financial Inc (NYSE:PRU) by 1.4% during the fourth quarter, HoldingsChannel reports. The firm owned 85,372 shares of the financial services provider’s stock after selling 1,182 shares during the period. Prudential Financial accounts for approximately 3.3% of Palouse Capital Management Inc.’s holdings, making the stock its largest position. Palouse Capital Management Inc.’s holdings in Prudential Financial were worth $9,816,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Douglas Lane & Associates LLC lifted its holdings in Prudential Financial by 3.1% in the third quarter. Douglas Lane & Associates LLC now owns 647,412 shares of the financial services provider’s stock valued at $68,833,000 after buying an additional 19,238 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in Prudential Financial by 5.0% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 42,113 shares of the financial services provider’s stock valued at $4,477,000 after buying an additional 1,990 shares during the period. APG Asset Management N.V. lifted its holdings in Prudential Financial by 171.8% in the third quarter. APG Asset Management N.V. now owns 2,704,719 shares of the financial services provider’s stock valued at $287,566,000 after buying an additional 1,709,699 shares during the period. Bank of Nova Scotia lifted its holdings in Prudential Financial by 253.2% in the second quarter. Bank of Nova Scotia now owns 347,743 shares of the financial services provider’s stock valued at $37,605,000 after buying an additional 249,277 shares during the period. Finally, Boston Advisors LLC lifted its holdings in Prudential Financial by 0.8% in the third quarter. Boston Advisors LLC now owns 149,937 shares of the financial services provider’s stock valued at $15,941,000 after buying an additional 1,195 shares during the period. Institutional investors own 64.35% of the company’s stock.

Shares of Prudential Financial Inc (NYSE:PRU) opened at $110.99 on Wednesday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.34. The firm has a market cap of $46,974.96, a price-to-earnings ratio of 10.70, a price-to-earnings-growth ratio of 1.13 and a beta of 1.50. Prudential Financial Inc has a twelve month low of $97.88 and a twelve month high of $127.14.

Prudential Financial announced that its Board of Directors has initiated a stock buyback program on Thursday, December 14th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

In other news, EVP Timothy P. Harris sold 10,527 shares of the stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $115.00, for a total transaction of $1,210,605.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Barbara Koster sold 16,801 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $115.17, for a total transaction of $1,934,971.17. Following the sale, the senior vice president now directly owns 37,327 shares of the company’s stock, valued at approximately $4,298,950.59. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,188 shares of company stock worth $8,159,578. Company insiders own 0.66% of the company’s stock.

Several equities analysts recently weighed in on the stock. Wells Fargo & Co set a $122.00 price objective on shares of Prudential Financial and gave the company a “hold” rating in a report on Thursday, December 14th. Atlantic Securities upgraded shares of Prudential Financial from a “neutral” rating to an “overweight” rating in a report on Thursday, January 11th. Morgan Stanley increased their price objective on shares of Prudential Financial from $123.00 to $124.00 and gave the company an “equal weight” rating in a report on Thursday, November 2nd. B. Riley restated a “buy” rating on shares of Prudential Financial in a report on Monday, November 6th. Finally, Zacks Investment Research upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a report on Monday, January 8th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Prudential Financial currently has an average rating of “Buy” and an average 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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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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