ASR Vermogensbeheer N.V. Lowers Holdings in Prudential Financial, Inc. $PRU

ASR Vermogensbeheer N.V. trimmed its holdings in Prudential Financial, Inc. (NYSE:PRU) by 3.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 68,874 shares of the financial services provider’s stock after selling 2,180 shares during the quarter. ASR Vermogensbeheer N.V.’s holdings in Prudential Financial were worth $7,400,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Nuveen LLC purchased a new position in Prudential Financial during the first quarter valued at $90,010,000. Goldman Sachs Group Inc. boosted its holdings in shares of Prudential Financial by 19.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider’s stock valued at $469,777,000 after purchasing an additional 678,028 shares during the last quarter. Amundi grew its position in shares of Prudential Financial by 14.1% during the first quarter. Amundi now owns 1,751,633 shares of the financial services provider’s stock valued at $183,571,000 after purchasing an additional 216,119 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Prudential Financial by 72.8% in the first quarter. AQR Capital Management LLC now owns 424,659 shares of the financial services provider’s stock worth $46,789,000 after purchasing an additional 178,888 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Prudential Financial by 2.7% in the first quarter. Invesco Ltd. now owns 4,440,003 shares of the financial services provider’s stock worth $495,859,000 after buying an additional 116,079 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Down 1.1%

Shares of PRU opened at $101.87 on Friday. The company’s fifty day simple moving average is $105.21 and its 200-day simple moving average is $104.91. The company has a market cap of $35.86 billion, a P/E ratio of 22.59, a P/E/G ratio of 0.91 and a beta of 1.04. 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, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $3.58 EPS for the quarter, beating the consensus estimate of $3.22 by $0.36. The company had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.47 billion. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The firm’s revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.39 EPS. As a group, analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Tuesday, August 19th were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend was Tuesday, August 19th. Prudential Financial’s dividend payout ratio (DPR) is currently 119.73%.

Analysts Set New Price Targets

PRU has been the topic of a number of research reports. Piper Sandler reduced their price objective on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 16th. Wolfe Research started coverage on shares of Prudential Financial in a research report on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Wall Street Zen upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Barclays boosted their target price on shares of Prudential Financial from $119.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, July 17th. Finally, JPMorgan Chase & Co. increased their price target on shares of Prudential Financial from $126.00 to $136.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $122.08.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the company’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $109.65, for a total value of $438,600.00. Following the transaction, the executive vice president owned 21,506 shares of the company’s stock, valued at $2,358,132.90. This represents a 15.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.25% of the stock is currently owned by insiders.

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.