Prudential Financial, Inc. (NYSE:PRU) Position Boosted by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,082 shares of the financial services provider’s stock after acquiring an additional 1,564 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Prudential Financial were worth $8,280,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Grove Bank & Trust grew its stake in Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 87 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Prudential Financial in the 4th quarter valued at approximately $29,000. CGC Financial Services LLC grew its stake in shares of Prudential Financial by 82.1% in the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock valued at $33,000 after buying an additional 124 shares in the last quarter. Wingate Wealth Advisors Inc. bought a new stake in shares of Prudential Financial in the 4th quarter valued at approximately $33,000. Finally, Quarry LP grew its stake in shares of Prudential Financial by 376.3% in the 3rd quarter. Quarry LP now owns 281 shares of the financial services provider’s stock valued at $34,000 after buying an additional 222 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Activity at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential purchased 87,047 shares of the stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of $28.72 per share, for a total transaction of $2,499,989.84. Following the completion of the transaction, the insider now directly owns 87,047 shares of the company’s stock, valued at approximately $2,499,989.84. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrew F. Sullivan sold 6,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total value of $635,880.00. Following the completion of the sale, the executive vice president now owns 27,072 shares in the company, valued at $2,869,090.56. This trade represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on PRU shares. Jefferies Financial Group boosted their price target on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods lowered their price target on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating for the company in a research note on Wednesday, February 12th. Piper Sandler decreased their target price on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Barclays upped their target price on Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Finally, Wells Fargo & Company upped their target price on Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $126.15.

Prudential Financial Stock Up 3.4 %

Shares of PRU stock opened at $108.64 on Friday. Prudential Financial, Inc. has a 12 month low of $104.45 and a 12 month high of $130.55. The firm has a market cap of $38.89 billion, a PE ratio of 14.54, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28. The stock has a 50 day moving average of $114.31 and a 200-day moving average of $119.38. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 EPS for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. On average, equities analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Tuesday, February 18th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.97%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, February 18th. Prudential Financial’s dividend payout ratio is presently 72.29%.

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.