AustralianSuper Pty Ltd Purchases 28,459 Shares of Prudential Financial, Inc. (NYSE:PRU)

AustralianSuper Pty Ltd increased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,265,996 shares of the financial services provider’s stock after acquiring an additional 28,459 shares during the period. AustralianSuper Pty Ltd’s holdings in Prudential Financial were worth $153,312,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in PRU. Creekmur Asset Management LLC boosted its position in shares of Prudential Financial by 78.8% during the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 108 shares during the last quarter. Lynx Investment Advisory purchased a new position in Prudential Financial in the 2nd quarter worth approximately $29,000. Crewe Advisors LLC purchased a new stake in shares of Prudential Financial in the first quarter valued at approximately $33,000. ESL Trust Services LLC acquired a new stake in shares of Prudential Financial in the 1st quarter worth $34,000. Finally, Bank & Trust Co purchased a new stake in shares of Prudential Financial in the second quarter valued at about $37,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on PRU. UBS Group boosted their target price on Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Citigroup raised their price target on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Argus raised Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Bank of America upped their price target on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company increased their target price on shares of Prudential Financial from $113.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $123.69.

Prudential Financial Stock Down 2.0 %

Prudential Financial stock traded down $2.56 during mid-day trading on Thursday, hitting $124.08. 366,741 shares of the company’s stock were exchanged, compared to its average volume of 1,472,360. Prudential Financial, Inc. has a 1-year low of $89.90 and a 1-year high of $128.52. The stock has a 50 day moving average of $120.88 and a two-hundred day moving average of $118.13. The stock has a market cap of $44.30 billion, a P/E ratio of 16.28, a P/E/G ratio of 0.94 and a beta of 1.30. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. The business had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same period last year, the business posted $3.44 EPS. As a group, analysts anticipate that Prudential Financial, Inc. will post 13.3 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were given a dividend of $1.30 per share. The ex-dividend date was Tuesday, August 20th. This represents a $5.20 annualized dividend and a yield of 4.19%. Prudential Financial’s dividend payout ratio (DPR) is 66.84%.

Insider Buying and Selling

In other news, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was bought 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 of the company’s stock, valued at $116,071,781.42. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is owned by insiders.

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.