AustralianSuper Pty Ltd Has $83.79 Million Stock Position in Prudential Financial, Inc. $PRU

AustralianSuper Pty Ltd cut its position in Prudential Financial, Inc. (NYSE:PRU) by 34.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 807,682 shares of the financial services provider’s stock after selling 433,251 shares during the period. AustralianSuper Pty Ltd owned 0.23% of Prudential Financial worth $83,789,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PRU. Mirae Asset Global Investments Co. Ltd. increased its holdings in Prudential Financial by 19.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,241 shares of the financial services provider’s stock valued at $5,523,000 after purchasing an additional 8,519 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Prudential Financial by 0.7% during the third quarter. Federated Hermes Inc. now owns 1,095,031 shares of the financial services provider’s stock worth $113,599,000 after purchasing an additional 7,526 shares during the last quarter. Principle Wealth Partners LLC increased its stake in shares of Prudential Financial by 3.5% in the third quarter. Principle Wealth Partners LLC now owns 43,796 shares of the financial services provider’s stock valued at $4,543,000 after buying an additional 1,463 shares in the last quarter. AGH Wealth Advisors LLC bought a new position in shares of Prudential Financial in the third quarter valued at about $207,000. Finally, J. Safra Sarasin Holding AG lifted its position in Prudential Financial by 315.3% during the 3rd quarter. J. Safra Sarasin Holding AG now owns 12,082 shares of the financial services provider’s stock worth $1,253,000 after buying an additional 9,173 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Price Performance

Shares of PRU opened at $107.72 on Thursday. The stock has a market cap of $37.70 billion, a P/E ratio of 14.80, a price-to-earnings-growth ratio of 1.19 and a beta of 0.97. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $123.88. The stock’s 50-day moving average price is $112.57 and its two-hundred day moving average price is $107.27. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $4.26 earnings per share for the quarter, beating analysts’ consensus estimates of $3.72 by $0.54. The business had revenue of $17.89 billion for the quarter, compared to the consensus estimate of $13.77 billion. Prudential Financial had a net margin of 4.65% and a return on equity of 16.60%. During the same period last year, the company posted $3.48 EPS. On average, equities analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Tuesday, November 18th were given a $1.35 dividend. The ex-dividend date was Tuesday, November 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.0%. Prudential Financial’s dividend payout ratio is currently 74.18%.

Insiders Place Their Bets

In other news, Chairman Charles F. Lowrey sold 48,164 shares of Prudential Financial stock in a transaction dated 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 transaction, the chairman owned 165,564 shares in the company, valued at $17,779,917.96. The trade was a 22.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential bought 1,406,739 shares of the stock in a transaction that occurred on Friday, January 23rd. The shares were acquired at an average cost of $24.87 per share, with a total value of $34,985,598.93. Following the completion of the purchase, the insider owned 7,709,624 shares in the company, valued at $191,738,348.88. This represents a 22.32% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders sold 62,719 shares of company stock worth $6,796,067. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Wall Street Zen cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Wells Fargo & Company boosted their price objective on shares of Prudential Financial from $113.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 13th. Barclays decreased their price objective on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Mizuho began coverage on Prudential Financial in a research report on Tuesday, December 16th. They set a “neutral” rating and a $125.00 target price for the company. Finally, Morgan Stanley raised their price target on Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. One research analyst has rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $120.78.

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.