iSAM Funds UK Ltd Invests $2.72 Million in Prudential Financial, Inc. $PRU

iSAM Funds UK Ltd acquired a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 25,315 shares of the financial services provider’s stock, valued at approximately $2,720,000. Prudential Financial accounts for 0.6% of iSAM Funds UK Ltd’s investment portfolio, making the stock its 26th biggest holding.

Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in Prudential Financial during the 2nd quarter valued at about $122,778,000. Nuveen LLC bought a new position in shares of Prudential Financial in the first quarter valued at approximately $90,010,000. Vanguard Group Inc. grew its stake in Prudential Financial by 1.4% during the second quarter. Vanguard Group Inc. now owns 42,502,160 shares of the financial services provider’s stock valued at $4,566,432,000 after acquiring an additional 600,482 shares in the last quarter. Nordea Investment Management AB increased its holdings in Prudential Financial by 49.2% during the 2nd quarter. Nordea Investment Management AB now owns 1,720,781 shares of the financial services provider’s stock worth $184,192,000 after acquiring an additional 567,571 shares during the period. Finally, Marshall Wace LLP purchased a new stake in Prudential Financial in the 2nd quarter worth approximately $40,552,000. Institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling

In other news, SVP Timothy L. Schmidt sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $107.69, for a total value of $861,520.00. Following the transaction, the senior vice president owned 11,535 shares in the company, valued at approximately $1,242,204.15. This trade represents a 40.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Charles F. Lowrey sold 48,164 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the completion of the sale, the chairman directly owned 165,564 shares in the company, valued at approximately $17,779,917.96. This trade represents a 22.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.25% of the company’s stock.

Prudential Financial Stock Performance

Prudential Financial stock opened at $111.22 on Tuesday. The firm has a fifty day simple moving average of $104.71 and a two-hundred day simple moving average of $105.04. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $126.86. The company has a market capitalization of $38.93 billion, a PE ratio of 15.28, a P/E/G ratio of 0.91 and a beta of 0.97. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 EPS for the quarter. The firm had revenue of $8.35 billion for the quarter. Prudential Financial had a return on equity of 16.60% and a net margin of 4.65%. Research analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th will be given a $1.35 dividend. The ex-dividend date is Tuesday, November 18th. This represents a $5.40 annualized dividend and a yield of 4.9%. Prudential Financial’s payout ratio is presently 74.18%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Prudential Financial in a research report on Monday, December 1st. Wolfe Research started coverage on Prudential Financial in a report on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Evercore ISI boosted their price objective on Prudential Financial from $120.00 to $122.00 and gave the stock an “in-line” rating in a report on Thursday, October 30th. Keefe, Bruyette & Woods raised their target price on shares of Prudential Financial from $117.00 to $118.00 and gave the company a “market perform” rating in a research note on Monday, November 3rd. Finally, Barclays cut 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 note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $119.50.

Prudential Financial Company 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.