Prudential Financial, Inc. $PRU Stock: Eurizon Capital SGR S.p.A. Increases Holdings

Eurizon Capital SGR S.p.A. grew its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 589.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 463,411 shares of the financial services provider’s stock after acquiring an additional 396,220 shares during the quarter. Eurizon Capital SGR S.p.A.’s holdings in Prudential Financial were worth $52,646,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in PRU. Team Financial Group LLC bought a new stake in shares of Prudential Financial in the 3rd quarter valued at about $27,000. Archer Investment Corp acquired a new position in shares of Prudential Financial during the second quarter valued at about $26,000. Heritage Family Offices LLP bought a new position in Prudential Financial in the 3rd quarter valued at about $33,000. MADDEN SECURITIES Corp bought a new position in Prudential Financial in the 3rd quarter valued at about $38,000. Finally, Center for Financial Planning Inc. raised its holdings in shares of Prudential Financial by 90.4% in the third quarter. Center for Financial Planning Inc. now owns 339 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 161 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PRU shares. Mizuho raised their target price on Prudential Financial from $116.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday. UBS Group upped their price target on shares of Prudential Financial from $92.00 to $125.00 and gave the company a “neutral” rating in a research note on Wednesday. Evercore reduced their price objective on shares of Prudential Financial from $110.00 to $106.00 in a research note on Friday, October 9th. Barclays upped their price target on Prudential Financial from $94.00 to $98.00 and gave the company an “underweight” rating in a research report on Wednesday, November 4th. Finally, JPMorgan Chase & Co. cut their price target on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research note on Thursday, October 22nd. Two investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $115.67.

Prudential Financial Trading Up 0.9%

Shares of NYSE PRU opened at $123.55 on Friday. The stock has a market cap of $42.38 billion, a P/E ratio of 11.24, a price-to-earnings-growth ratio of 1.93 and a beta of 0.85. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.17 and a quick ratio of 0.17. The firm has a 50-day moving average of $117.32 and a 200 day moving average of $109.33. Prudential Financial, Inc. has a 1 year low of $91.89 and a 1 year high of $128.78.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, November 3rd. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.33 by $0.44. Prudential Financial had a net margin of 6.75% and a return on equity of 16.38%. The company had revenue of $14.45 billion for the quarter, compared to the consensus estimate of $14.66 billion. During the same quarter last year, the firm posted $4.26 earnings per share. As a group, sell-side analysts expect that Prudential Financial, Inc. will post 13.60 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Tuesday, November 24th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Tuesday, November 24th. Prudential Financial’s payout ratio is currently 50.96%.

Top Prudential Financial Stories

These are some of the PRU stories that stood out recently:

• Positive Sentiment: Prudential Wealth Advisors reported record third-quarter sales, about $80 billion in client assets, and revenue growth of 20% over two years. It also said it is attracting experienced advisors and serves nearly 4.3 million clients through more than 3,000 advisors, supporting the company’s push to expand wealth management. Prudential Wealth Advisors reports record sales
• Neutral Sentiment: A Seeking Alpha article describes Prudential as being in transition after divestitures, pointing to a period of strategic change; the provided article information does not specify the expected financial impact. Prudential Is In Transition After Divestitures
• Negative Sentiment: Wells Fargo raised its price target from $103 to $113 but kept an “underweight” rating, implying it sees downside from the referenced share price. Wells Fargo rating

Insiders Place Their Bets

In other Prudential Financial news, SVP Robert E. Boyle sold 2,794 shares of the stock in a transaction on Friday, November 6th. The shares were sold at an average price of $121.24, for a total transaction of $338,744.56. Following the transaction, the senior vice president directly owned 6,008 shares of the company’s stock, valued at $728,409.92. This trade represents a 31.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Sullivan sold 3,544 shares of Prudential Financial stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $121.32, for a total transaction of $429,958.08. Following the transaction, the chief executive officer directly owned 50,317 shares in the company, valued at $6,104,458.44. This trade represents a 6.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 9,135 shares of company stock worth $1,106,021. Company insiders own 0.05% of the company’s stock.

Prudential Financial Company Profile

Prudential Financial, Inc. is a financial services company headquartered in Newark, New Jersey. Founded in 1875 as the Prudential Friendly Society, it has grown into a provider of insurance, retirement and investment services. The company offers life insurance, annuities, workplace benefits and retirement-related products and services. Through its asset management businesses, Prudential also serves individual and institutional investors. Prudential serves customers in the United States and operates internationally, with a significant presence in Japan and other markets.