Prudential Financial, Inc. (NYSE:PRU) Shares Acquired by Swedbank AB

Swedbank AB lifted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 4.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 311,700 shares of the financial services provider’s stock after purchasing an additional 12,468 shares during the quarter. Swedbank AB’s holdings in Prudential Financial were worth $37,747,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Creekmur Asset Management LLC grew its holdings in shares of Prudential Financial by 78.8% during the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after buying an additional 108 shares during the last quarter. Lynx Investment Advisory acquired a new position in shares of Prudential Financial in the second quarter valued at about $29,000. Ashton Thomas Securities LLC purchased a new position in shares of Prudential Financial in the third quarter worth about $31,000. Bank & Trust Co acquired a new stake in shares of Prudential Financial during the second quarter worth about $37,000. Finally, Hobbs Group Advisors LLC purchased a new stake in Prudential Financial in the second quarter valued at approximately $38,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Caroline Feeney sold 1,110 shares of the company’s 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 represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was acquired at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the purchase, the insider now owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This represents a 6.61 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Piper Sandler increased their price target on Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Morgan Stanley reduced their price objective on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and raised their target price for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $121.00 price target on shares of Prudential Financial in a report on Wednesday, August 21st. Eleven investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $125.69.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $128.72 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. The firm has a market cap of $45.82 billion, a PE ratio of 11.44, a PEG ratio of 0.91 and a beta of 1.29. Prudential Financial, Inc. has a one year low of $94.92 and a one year high of $129.69. The firm has a fifty day moving average of $123.52 and a 200 day moving average of $119.82.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The firm had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter in the prior year, the firm earned $3.44 EPS. As a group, research analysts predict that Prudential Financial, Inc. will post 13.33 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date is Tuesday, November 19th. Prudential Financial’s dividend payout ratio is presently 46.22%.

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.