Forsta AP Fonden Has $10.52 Million Stock Position in Prudential Financial, Inc. $PRU

Forsta AP Fonden lessened its holdings in Prudential Financial, Inc. (NYSE:PRU) by 17.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 97,900 shares of the financial services provider’s stock after selling 21,100 shares during the period. Forsta AP Fonden’s holdings in Prudential Financial were worth $10,518,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PRU. Meeder Asset Management Inc. boosted its stake in shares of Prudential Financial by 90.2% in the 1st quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 111 shares in the last quarter. Cheviot Value Management LLC bought a new position in Prudential Financial in the 1st quarter valued at approximately $26,000. AlphaQuest LLC boosted its position in Prudential Financial by 12,250.0% in the first quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock valued at $28,000 after buying an additional 245 shares in the last quarter. Clearstead Trust LLC grew its stake in shares of Prudential Financial by 350.8% during the first quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider’s stock worth $30,000 after buying an additional 207 shares during the last quarter. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of Prudential Financial during the first quarter worth $45,000. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Down 0.0%

NYSE:PRU opened at $107.75 on Friday. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. The firm’s fifty day moving average is $103.67 and its 200-day moving average is $104.66. The firm has a market cap of $37.71 billion, a P/E ratio of 14.80, a P/E/G ratio of 0.88 and a beta of 1.05.

Prudential Financial (NYSE:PRU) last announced 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 during the quarter. Prudential Financial had a net margin of 4.65% and a return on equity of 16.98%. Equities analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Barclays cut their price objective 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. Keefe, Bruyette & Woods boosted their price target on Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a report on Monday, November 3rd. Wall Street Zen upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Wolfe Research began coverage on shares of Prudential Financial in a report on Tuesday, September 16th. They set a “peer perform” rating on the stock. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Prudential Financial in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $120.73.

Insider Activity at Prudential Financial

In other Prudential Financial news, Chairman Charles F. Lowrey sold 48,164 shares of Prudential Financial stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $107.39, for a total value of $5,172,331.96. Following the completion of the sale, the chairman directly owned 165,564 shares in the company, valued at approximately $17,779,917.96. The trade was a 22.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ann M. Kappler sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $109.65, for a total value of $438,600.00. Following the completion of the transaction, the executive vice president directly owned 21,506 shares in the company, valued at approximately $2,358,132.90. This trade represents a 15.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.25% of the company’s stock.

Prudential Financial Company 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.