Cetera Advisors LLC Buys New Stake in Prudential Financial, Inc. (PRU)

Cetera Advisors LLC bought a new stake in Prudential Financial, Inc. (NYSE:PRU) during the third quarter, Holdings Channel reports. The firm bought 3,159 shares of the company’s stock, valued at approximately $258,000.

Other large investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can raised its stake in shares of Prudential Financial by 39.5% in the third quarter. Bank of Montreal Can now owns 768,478 shares of the company’s stock worth $62,745,000 after buying an additional 217,589 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Prudential Financial by 20.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 320,604 shares of the company’s stock worth $22,872,000 after buying an additional 54,266 shares during the period. Cohen & Steers Inc. bought a new stake in shares of Prudential Financial during the second quarter worth about $5,313,000. Great Lakes Advisors LLC raised its stake in shares of Prudential Financial by 1.2% in the third quarter. Great Lakes Advisors LLC now owns 640,182 shares of the company’s stock worth $52,272,000 after buying an additional 7,515 shares during the period. Finally, Benin Management CORP raised its stake in shares of Prudential Financial by 6.6% in the third quarter. Benin Management CORP now owns 125,360 shares of the company’s stock worth $10,236,000 after buying an additional 7,739 shares during the period. 61.22% of the stock is owned by institutional investors.

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

Prudential Financial, Inc. (NYSE:PRU) traded up 0.33% during trading on Friday, reaching $108.75. The company’s stock had a trading volume of 2,707,760 shares. The stock has a market capitalization of $46.76 billion, a PE ratio of 10.25 and a beta of 1.69. Prudential Financial, Inc. has a 1-year low of $61.74 and a 1-year high of $109.15. The stock has a 50 day moving average price of $105.64 and a 200 day moving average price of $91.18.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, February 8th. The company reported $2.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.32 by $0.14. Prudential Financial had a return on equity of 7.96% and a net margin of 7.63%. During the same period last year, the firm posted $1.94 EPS. Analysts anticipate that Prudential Financial, Inc. will post $10.41 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 16th. Stockholders of record on Wednesday, February 22nd will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Friday, February 17th. This is a positive change from Prudential Financial’s previous quarterly dividend of $0.70. Prudential Financial’s dividend payout ratio is 28.90%.

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A number of equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Tuesday, December 6th. Morgan Stanley lowered shares of Prudential Financial from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $109.00 to $110.00 in a report on Wednesday, December 14th. They noted that the move was a valuation call. Citigroup Inc. initiated coverage on shares of Prudential Financial in a report on Thursday, January 26th. They set a “neutral” rating and a $103.00 price objective for the company. Atlantic Securities downgraded Prudential Financial from an “overweight” rating to a “neutral” rating in a research report on Friday. They noted that the move was a valuation call. Finally, FBR & Co downgraded Prudential Financial from an “outperform” rating to a “market perform” rating and set a $86.00 target price for the company. in a research report on Tuesday, October 18th. They noted that the move was a valuation call. Ten investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $98.44.

Prudential Financial Company Profile

Prudential Financial, Inc is a financial services company. The Company, through its subsidiaries and affiliates, provides a range of financial products and services, including life insurance, annuities and investment management. The Company’s divisions include U.S. Retirement Solutions and Investment Management Division; U.S.

5 Day Chart for NYSE:PRU

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:PRU).

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