Prudential Financial, Inc. (NYSE:PRU) Holdings Boosted by Swedbank AB

Swedbank AB boosted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 4.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 311,700 shares of the financial services provider’s stock after acquiring an additional 12,468 shares during the period. Swedbank AB owned about 0.09% of Prudential Financial worth $37,747,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PRU. AQR Capital Management LLC lifted its holdings in Prudential Financial by 97.4% in the second quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock worth $84,874,000 after acquiring an additional 357,300 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Prudential Financial by 9.4% during the second quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock valued at $415,134,000 after buying an additional 305,143 shares during the last quarter. OFI Invest Asset Management raised its holdings in shares of Prudential Financial by 10,529.7% during the second quarter. OFI Invest Asset Management now owns 155,513 shares of the financial services provider’s stock valued at $17,004,000 after buying an additional 154,050 shares during the last quarter. Cullinan Associates Inc. raised its holdings in shares of Prudential Financial by 2,355.0% during the first quarter. Cullinan Associates Inc. now owns 151,598 shares of the financial services provider’s stock valued at $17,798,000 after buying an additional 145,423 shares during the last quarter. Finally, Natixis raised its holdings in shares of Prudential Financial by 815.4% during the first quarter. Natixis now owns 129,959 shares of the financial services provider’s stock valued at $15,257,000 after buying an additional 115,762 shares during the last quarter. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Up 1.0 %

Prudential Financial stock opened at $127.03 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. The firm has a market cap of $45.60 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 0.97 and a beta of 1.30. Prudential Financial, Inc. has a 1 year low of $87.95 and a 1 year high of $128.52. The firm’s 50 day moving average price is $118.11 and its two-hundred day moving average price is $117.34.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing the consensus estimate of $3.43 by ($0.04). Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. The firm had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. On average, research analysts predict that Prudential Financial, Inc. will post 13.28 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial’s payout ratio is 88.44%.

Insiders Place Their Bets

In other news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the stock in a transaction on Tuesday, October 8th. The shares were purchased at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the transaction, the insider now owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the firm’s stock in a transaction on Tuesday, October 8th. The shares were bought at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the purchase, the insider now directly owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Bank of America lifted their price target on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Morgan Stanley cut their price target on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Barclays assumed coverage on shares of Prudential Financial in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $118.00 price objective on the stock. Jefferies Financial Group lowered their price objective on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $123.69.

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.