Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Prudential Financial Inc (NYSE:PRU) by 11.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 130,738 shares of the financial services provider’s stock after acquiring an additional 13,696 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Prudential Financial were worth $12,012,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Old North State Trust LLC increased its position in Prudential Financial by 46.5% during the fourth quarter. Old North State Trust LLC now owns 438 shares of the financial services provider’s stock worth $35,000 after buying an additional 139 shares during the last quarter. Semmax Financial Advisors Inc. acquired a new position in Prudential Financial during the fourth quarter worth $35,000. Baldwin Brothers Inc. MA increased its position in Prudential Financial by 146.7% during the fourth quarter. Baldwin Brothers Inc. MA now owns 454 shares of the financial services provider’s stock worth $37,000 after buying an additional 270 shares during the last quarter. Somerset Trust Co increased its position in Prudential Financial by 276.4% during the first quarter. Somerset Trust Co now owns 414 shares of the financial services provider’s stock worth $38,000 after buying an additional 304 shares during the last quarter. Finally, PRW Wealth Management LLC acquired a new position in Prudential Financial during the fourth quarter worth $39,000. 66.25% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:PRU traded down $0.79 during midday trading on Wednesday, hitting $99.65. The company’s stock had a trading volume of 1,210,047 shares, compared to its average volume of 2,105,958. The company has a market cap of $40.11 billion, a P/E ratio of 8.52, a P/E/G ratio of 0.86 and a beta of 1.48. Prudential Financial Inc has a fifty-two week low of $75.61 and a fifty-two week high of $106.64. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.11 and a current ratio of 0.11.
Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.14 by ($0.14). The business had revenue of $13.65 billion during the quarter, compared to analyst estimates of $13.74 billion. Prudential Financial had a net margin of 6.18% and a return on equity of 9.87%. During the same period in the prior year, the business posted $3.08 earnings per share. As a group, equities analysts predict that Prudential Financial Inc will post 12.81 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, May 28th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend is Friday, May 24th. Prudential Financial’s dividend payout ratio is currently 34.22%.
In related news, insider Nicholas C. Silitch sold 13,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $95.25, for a total value of $1,238,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.76% of the company’s stock.
PRU has been the topic of several analyst reports. UBS Group increased their target price on shares of Prudential Financial from $114.00 to $116.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Deutsche Bank increased their target price on shares of Prudential Financial from $97.00 to $104.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Zacks Investment Research downgraded shares of Prudential Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, January 23rd. Finally, ValuEngine raised shares of Prudential Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $111.71.
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Prudential Financial Profile
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.
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