Nordea Investment Management AB Has $231.32 Million Stock Holdings in Prudential Financial, Inc. $PRU

Nordea Investment Management AB increased its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 16.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,044,374 shares of the financial services provider’s stock after purchasing an additional 291,422 shares during the quarter. Nordea Investment Management AB owned 0.58% of Prudential Financial worth $231,321,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Gilbert & Cook Inc. increased its position in shares of Prudential Financial by 2.4% during the fourth quarter. Gilbert & Cook Inc. now owns 9,245 shares of the financial services provider’s stock worth $1,044,000 after acquiring an additional 217 shares in the last quarter. Sagespring Wealth Partners LLC lifted its position in Prudential Financial by 17.1% in the 4th quarter. Sagespring Wealth Partners LLC now owns 6,911 shares of the financial services provider’s stock valued at $780,000 after acquiring an additional 1,009 shares in the last quarter. Everhart Financial Group Inc. boosted its stake in Prudential Financial by 16.4% in the 4th quarter. Everhart Financial Group Inc. now owns 4,639 shares of the financial services provider’s stock worth $524,000 after purchasing an additional 653 shares during the period. Avior Wealth Management LLC increased its holdings in Prudential Financial by 3.4% during the 4th quarter. Avior Wealth Management LLC now owns 5,364 shares of the financial services provider’s stock worth $605,000 after purchasing an additional 177 shares in the last quarter. Finally, Board of the Pension Protection Fund increased its holdings in Prudential Financial by 311.8% during the 4th quarter. Board of the Pension Protection Fund now owns 14,000 shares of the financial services provider’s stock worth $1,580,000 after purchasing an additional 10,600 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling

In other news, Director Thomas D. Stoddard purchased 250 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were purchased at an average cost of $102.97 per share, with a total value of $25,742.50. Following the completion of the transaction, the director owned 250 shares of the company’s stock, valued at $25,742.50. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph J. Wolk acquired 400 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was purchased at an average cost of $105.32 per share, with a total value of $42,128.00. Following the transaction, the director owned 400 shares in the company, valued at approximately $42,128. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders purchased 1,408,389 shares of company stock worth $35,154,439. 0.25% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Barclays cut their price target on Prudential Financial from $124.00 to $119.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 11th. JPMorgan Chase & Co. dropped their target price on Prudential Financial from $133.00 to $127.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 4th. Evercore restated a “negative” rating on shares of Prudential Financial in a research note on Friday, March 6th. Mizuho reduced their price target on Prudential Financial from $126.00 to $113.00 and set a “neutral” rating for the company in a research report on Tuesday, February 10th. Finally, UBS Group raised their price target on shares of Prudential Financial from $111.00 to $116.00 and gave the stock a “neutral” rating in a research note on Thursday, January 8th. Nine research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Prudential Financial has an average rating of “Reduce” and a consensus target price of $115.22.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $93.07 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. The business has a 50-day moving average of $103.31 and a 200-day moving average of $106.01. The stock has a market capitalization of $32.39 billion, a price-to-earnings ratio of 9.31, a PEG ratio of 1.15 and a beta of 0.98. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $119.76.

Prudential Financial (NYSE:PRU) last released its earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.37 by ($0.07). The company had revenue of $14.52 billion for the quarter, compared to the consensus estimate of $14.48 billion. Prudential Financial had a return on equity of 16.32% and a net margin of 6.20%.During the same quarter in the previous year, the company posted $2.96 EPS. As a group, sell-side analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Tuesday, February 17th were paid a dividend of $1.40 per share. The ex-dividend date was Tuesday, February 17th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 6.0%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.35. Prudential Financial’s dividend payout ratio (DPR) is currently 56.00%.

Prudential Financial Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.