Swedbank AB Has $35.55 Million Stake in Prudential Financial, Inc. $PRU

Swedbank AB increased its stake in Prudential Financial, Inc. (NYSE:PRU) by 4.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 342,652 shares of the financial services provider’s stock after acquiring an additional 14,518 shares during the quarter. Swedbank AB’s holdings in Prudential Financial were worth $35,547,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. AlphaQuest LLC boosted its position in shares of Prudential Financial by 12,250.0% during the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 245 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in Prudential Financial in the 2nd quarter valued at about $36,000. AlphaCore Capital LLC bought a new position in Prudential Financial in the second quarter worth approximately $39,000. Capital A Wealth Management LLC grew its stake in Prudential Financial by 4,600.0% in the second quarter. Capital A Wealth Management LLC now owns 376 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 368 shares during the period. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of Prudential Financial during the second quarter valued at approximately $51,000. 56.83% of the stock is owned by institutional investors.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, SVP Timothy L. Schmidt sold 8,000 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $107.69, for a total transaction of $861,520.00. Following the sale, the senior vice president directly owned 11,535 shares of the company’s stock, valued at $1,242,204.15. This represents a 40.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Charles F. Lowrey sold 48,164 shares of Prudential Financial stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the completion of the transaction, the chairman owned 165,564 shares of the company’s stock, valued at $17,779,917.96. The trade was a 22.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 62,719 shares of company stock worth $6,796,067 over the last ninety days. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods increased their target price 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 raised shares of Prudential Financial from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Barclays reduced their price objective on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. Weiss Ratings restated a “hold (c+)” rating on shares of Prudential Financial in a report on Monday. Finally, Mizuho started coverage on shares of Prudential Financial in a research report on Tuesday, December 16th. They issued a “neutral” rating and a $125.00 price target on the stock. Eleven equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $118.00.

Prudential Financial Stock Up 0.3%

PRU opened at $114.55 on Friday. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $123.88. The firm has a market capitalization of $40.09 billion, a P/E ratio of 15.73, a PEG ratio of 0.93 and a beta of 0.97. The company’s 50-day moving average is $108.06 and its 200 day moving average is $106.07. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 EPS for the quarter. Prudential Financial had a net margin of 4.65% and a return on equity of 16.60%. The firm had revenue of $8.35 billion during the quarter. Research analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend was Tuesday, November 18th. Prudential Financial’s dividend payout ratio (DPR) is currently 74.18%.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.