Bangor Savings Bank Grows Stock Holdings in Prudential Financial, Inc. $PRU

Bangor Savings Bank lifted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 5.3% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,521 shares of the financial services provider’s stock after buying an additional 525 shares during the quarter. Bangor Savings Bank’s holdings in Prudential Financial were worth $1,130,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PRU. GAMMA Investing LLC increased its holdings in Prudential Financial by 11,280.3% in the 1st quarter. GAMMA Investing LLC now owns 867,865 shares of the financial services provider’s stock valued at $96,923,000 after acquiring an additional 860,239 shares during the last quarter. Nuveen LLC bought a new stake in Prudential Financial in the 1st quarter valued at $90,010,000. Goldman Sachs Group Inc. increased its holdings in Prudential Financial by 19.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider’s stock valued at $469,777,000 after acquiring an additional 678,028 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Prudential Financial by 11.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,410,363 shares of the financial services provider’s stock valued at $404,230,000 after acquiring an additional 352,335 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Prudential Financial in the 4th quarter valued at $25,796,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. UBS Group reduced their price target on shares of Prudential Financial from $122.00 to $110.00 and set a “neutral” rating on the stock in a report on Tuesday, May 27th. Wells Fargo & Company reduced their price target on shares of Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 16th. Wall Street Zen upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Barclays boosted their target price on shares of Prudential Financial from $119.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, July 17th. Finally, Morgan Stanley boosted their target price on shares of Prudential Financial from $113.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday, August 18th. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Prudential Financial presently has an average rating of “Hold” and a consensus target price of $122.08.

Prudential Financial Price Performance

PRU stock opened at $106.94 on Friday. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $130.55. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average price of $105.61 and a 200 day moving average price of $105.49. The stock has a market cap of $37.64 billion, a PE ratio of 23.71, a P/E/G ratio of 0.95 and a beta of 1.07.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $3.58 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.36. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The firm had revenue of $13.50 billion during the quarter, compared to analysts’ expectations of $13.47 billion. During the same period in the previous year, the company earned $3.39 EPS. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. Equities research analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Tuesday, August 19th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.0%. Prudential Financial’s payout ratio is currently 119.73%.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential purchased 1,675,978 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The stock was purchased at an average cost of $28.64 per share, with a total value of $48,000,009.92. Following the purchase, the insider owned 3,168,461 shares in the company, valued at approximately $90,744,723.04. This trade represents a 112.29% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ann M. Kappler sold 4,000 shares of Prudential Financial stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $109.65, for a total transaction of $438,600.00. Following the transaction, the executive vice president directly owned 21,506 shares of the company’s stock, valued at approximately $2,358,132.90. This represents a 15.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently 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.