Fjarde AP Fonden Fourth Swedish National Pension Fund Lowers Position in Prudential Financial, Inc. $PRU

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its holdings in Prudential Financial, Inc. (NYSE:PRU) by 6.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,682 shares of the financial services provider’s stock after selling 2,200 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Prudential Financial were worth $3,189,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Brookwood Investment Group LLC purchased a new stake in Prudential Financial in the second quarter worth about $289,000. Envestnet Asset Management Inc. raised its stake in Prudential Financial by 2.4% in the second quarter. Envestnet Asset Management Inc. now owns 815,841 shares of the financial services provider’s stock worth $87,654,000 after buying an additional 18,901 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Prudential Financial by 0.9% in the second quarter. Nisa Investment Advisors LLC now owns 140,857 shares of the financial services provider’s stock worth $15,134,000 after buying an additional 1,204 shares in the last quarter. New Hampshire Trust raised its stake in Prudential Financial by 5.3% in the second quarter. New Hampshire Trust now owns 4,261 shares of the financial services provider’s stock worth $458,000 after buying an additional 216 shares in the last quarter. Finally, CVA Family Office LLC raised its stake in Prudential Financial by 11.0% in the second quarter. CVA Family Office LLC now owns 1,300 shares of the financial services provider’s stock worth $140,000 after buying an additional 129 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prudential Financial

In other news, EVP Ann M. Kappler sold 4,000 shares of the business’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $109.65, for a total transaction of $438,600.00. Following the sale, the executive vice president directly owned 21,506 shares of the company’s stock, valued at $2,358,132.90. The trade was a 15.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is owned by company insiders.

Prudential Financial Stock Performance

PRU opened at $102.97 on Friday. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $130.55. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60. The company has a market cap of $36.25 billion, a P/E ratio of 14.14, a price-to-earnings-growth ratio of 0.88 and a beta of 1.04. The firm’s 50-day moving average price is $104.29 and its 200-day moving average price is $104.28.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. The firm had revenue of $8.35 billion for the quarter. Prudential Financial had a net margin of 4.65% and a return on equity of 16.98%. As a group, equities analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th were issued 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 5.2%. Prudential Financial’s payout ratio is 119.73%.

Wall Street Analysts Forecast Growth

PRU has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Prudential Financial from $126.00 to $136.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. Wall Street Zen raised shares of Prudential Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Wolfe Research assumed coverage on shares of Prudential Financial in a research report on Tuesday, September 16th. They set a “peer perform” rating for the company. Barclays decreased their price target on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 8th. Finally, Evercore ISI increased their price target on shares of Prudential Financial from $120.00 to $122.00 and gave the company an “in-line” rating in a research report on Thursday. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $120.64.

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.