CSM Advisors LLC Buys New Stake in Prudential Financial, Inc. $PRU

CSM Advisors LLC purchased a new position in shares of Prudential Financial, Inc. (NYSE:PRU) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,230 shares of the financial services provider’s stock, valued at approximately $562,000.

A number of other large investors also recently modified their holdings of PRU. Nuveen LLC bought a new position in Prudential Financial in the 1st quarter valued at about $90,010,000. Goldman Sachs Group Inc. lifted its stake in shares of Prudential Financial by 19.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider’s stock worth $469,777,000 after acquiring an additional 678,028 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Prudential Financial by 49.2% in the second quarter. Nordea Investment Management AB now owns 1,720,781 shares of the financial services provider’s stock valued at $184,192,000 after acquiring an additional 567,571 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Prudential Financial during the second quarter worth approximately $28,579,000. Finally, Amundi lifted its position in Prudential Financial by 14.1% in the first quarter. Amundi now owns 1,751,633 shares of the financial services provider’s stock worth $183,571,000 after purchasing an additional 216,119 shares during the period. 56.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Prudential Financial

In other news, EVP Ann M. Kappler sold 4,000 shares of Prudential Financial stock in a transaction on Friday, August 29th. The stock was sold at an average price of $109.65, for a total transaction of $438,600.00. Following the transaction, the executive vice president owned 21,506 shares in the company, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on PRU. Wall Street Zen upgraded Prudential Financial from a “hold” rating to a “buy” rating in a research report on Saturday. Barclays lowered their target price on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. Piper Sandler cut their price target on shares of Prudential Financial from $109.00 to $108.00 and set a “neutral” rating for the company in a report on Wednesday, July 16th. Wolfe Research began coverage on shares of Prudential Financial in a research note on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $120.73.

Prudential Financial Price Performance

NYSE PRU opened at $107.04 on Tuesday. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The stock’s 50-day moving average price is $103.70 and its two-hundred day moving average price is $104.59. The company has a market cap of $37.46 billion, a PE ratio of 14.70, a PEG ratio of 0.88 and a beta of 1.05. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. The business had revenue of $8.35 billion for the quarter. Prudential Financial had a net margin of 4.65% and a return on equity of 16.98%. On average, analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Tuesday, November 18th will be issued a $1.35 dividend. The ex-dividend date is Tuesday, November 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.0%. Prudential Financial’s dividend payout ratio is presently 74.18%.

Prudential Financial Profile

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 Life, and International Businesses segments.