Nations Financial Group Inc. IA ADV Increases Holdings in Prudential Financial, Inc. (NYSE:PRU)

Nations Financial Group Inc. IA ADV grew its holdings in Prudential Financial, Inc. (NYSE:PRU) by 3.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,549 shares of the financial services provider’s stock after acquiring an additional 191 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Prudential Financial were worth $768,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in PRU. Vanguard Group Inc. lifted its position in shares of Prudential Financial by 13.9% in the fourth quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock worth $4,386,192,000 after buying an additional 5,154,865 shares in the last quarter. Norges Bank purchased a new stake in shares of Prudential Financial in the fourth quarter worth about $113,478,000. Dimensional Fund Advisors LP lifted its position in shares of Prudential Financial by 10.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,000,665 shares of the financial services provider’s stock worth $414,926,000 after buying an additional 388,363 shares in the last quarter. Swedbank AB purchased a new stake in shares of Prudential Financial in the first quarter worth about $35,855,000. Finally, Schroder Investment Management Group lifted its position in shares of Prudential Financial by 387.6% in the fourth quarter. Schroder Investment Management Group now owns 332,421 shares of the financial services provider’s stock worth $34,475,000 after buying an additional 264,247 shares in the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PRU shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $121.00 target price on shares of Prudential Financial in a research report on Wednesday, August 21st. Morgan Stanley reduced their price objective on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Citigroup boosted their price objective on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Piper Sandler reduced their price objective on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Finally, Wells Fargo & Company raised Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price objective on the stock in a research note on Monday, August 12th. One 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $119.33.

Prudential Financial Stock Up 1.1 %

Shares of NYSE:PRU opened at $121.16 on Friday. Prudential Financial, Inc. has a 52-week low of $87.95 and a 52-week high of $128.52. The stock has a market cap of $43.50 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34. The business’s 50 day moving average is $118.03 and its 200 day moving average is $115.13. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65.

Prudential Financial (NYSE:PRU) last posted its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The company had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. Sell-side analysts predict that Prudential Financial, Inc. will post 13.33 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.29%. Prudential Financial’s dividend payout ratio is currently 88.44%.

Insiders Place Their Bets

In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the sale, the executive vice president now owns 14,535 shares in the company, valued at $1,648,705.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were bought at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the transaction, the insider now owns 3,883,390 shares of the company’s stock, valued at $107,065,062.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the sale, the executive vice president now directly owns 14,535 shares in the company, valued at $1,648,705.05. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

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.