Andra AP fonden Takes $599,000 Position in Prudential Financial, Inc. $PRU

Andra AP fonden bought a new position in Prudential Financial, Inc. (NYSE:PRU) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 5,579 shares of the financial services provider’s stock, valued at approximately $599,000.

Other large investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its position in shares of Prudential Financial by 90.2% during the 1st quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 111 shares during the last quarter. AlphaQuest LLC grew its holdings in shares of Prudential Financial by 12,250.0% in the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 245 shares during the last quarter. Cheviot Value Management LLC acquired a new stake in shares of Prudential Financial during the first quarter worth $26,000. Clearstead Trust LLC boosted its position in shares of Prudential Financial by 350.8% in the 1st quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 207 shares during the period. Finally, N.E.W. Advisory Services LLC purchased a new position in Prudential Financial in the 1st quarter worth about $45,000. 56.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on PRU shares. Wolfe Research initiated coverage on shares of Prudential Financial in a report on Tuesday, September 16th. They issued a “peer perform” rating for the company. Morgan Stanley raised their price objective on shares of Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Wall Street Zen raised shares of Prudential Financial from a “hold” rating to a “buy” rating in a research note on Saturday. Barclays decreased their target price on 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, Piper Sandler lowered their price target on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating on the stock in a report on Wednesday, July 16th. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $120.73.

Prudential Financial Stock Up 1.0%

PRU opened at $106.24 on Friday. The company has a market capitalization of $37.19 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 0.88 and a beta of 1.05. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55. The business has a 50-day moving average of $103.75 and a 200-day moving average of $104.55.

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 16.98% and a net margin of 4.65%. Equities research analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend is Tuesday, November 18th. Prudential Financial’s dividend payout ratio is presently 74.18%.

Insiders Place Their Bets

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the business’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $109.65, for a total value of $438,600.00. Following the completion of the sale, the executive vice president 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 at this hyperlink. 0.25% of the stock is currently 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.