MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Increases Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,803 shares of the financial services provider’s stock after buying an additional 281 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Prudential Financial were worth $1,672,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Legal & General Group Plc lifted its position in shares of Prudential Financial by 9.4% during the 2nd 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 in the last quarter. AustralianSuper Pty Ltd lifted its position in shares of Prudential Financial by 2.8% during the 2nd quarter. AustralianSuper Pty Ltd now owns 1,237,537 shares of the financial services provider’s stock valued at $145,027,000 after buying an additional 34,160 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Prudential Financial by 8.8% during the 2nd quarter. Federated Hermes Inc. now owns 1,025,527 shares of the financial services provider’s stock valued at $120,181,000 after buying an additional 82,620 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Prudential Financial by 7.2% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 926,641 shares of the financial services provider’s stock valued at $108,788,000 after purchasing an additional 62,578 shares during the period. Finally, AQR Capital Management LLC raised its stake in Prudential Financial by 97.4% during the 2nd quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock valued at $84,874,000 after purchasing an additional 357,300 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The stock was bought at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the acquisition, the insider now directly owns 4,208,549 shares in the company, valued at $116,071,781.42. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the stock in a transaction on 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 acquisition, the insider now owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PRU shares. Bank of America lifted their target price on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Argus raised Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Barclays started coverage on Prudential Financial in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $118.00 target price on the stock. Wells Fargo & Company lifted their target price on Prudential Financial from $113.00 to $116.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Finally, Jefferies Financial Group reduced their price objective on Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and a consensus target price of $123.69.

Prudential Financial Price Performance

Shares of Prudential Financial stock opened at $125.17 on Tuesday. The stock has a market cap of $44.94 billion, a price-to-earnings ratio of 21.29, a price-to-earnings-growth ratio of 0.97 and a beta of 1.30. 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 stock has a 50 day moving average price of $117.33 and a 200-day moving average price of $117.21. Prudential Financial, Inc. has a one year low of $87.95 and a one year high of $128.52.

Prudential Financial (NYSE:PRU) last announced its earnings results on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. The company had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Equities analysts expect that Prudential Financial, Inc. will post 13.28 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date was Tuesday, August 20th. Prudential Financial’s payout ratio is currently 88.44%.

About Prudential Financial

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.