Forsta AP Fonden Cuts Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Forsta AP Fonden lowered its stake in Prudential Financial, Inc. (NYSE:PRU) by 4.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 147,000 shares of the financial services provider’s stock after selling 6,500 shares during the quarter. Forsta AP Fonden’s holdings in Prudential Financial were worth $17,424,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PRU. Creative Planning raised its position in shares of Prudential Financial by 11.6% during the 2nd quarter. Creative Planning now owns 95,214 shares of the financial services provider’s stock worth $11,158,000 after purchasing an additional 9,889 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Prudential Financial by 4.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 34,354 shares of the financial services provider’s stock worth $4,026,000 after buying an additional 1,340 shares in the last quarter. EP Wealth Advisors LLC raised its holdings in shares of Prudential Financial by 17.9% during the second quarter. EP Wealth Advisors LLC now owns 6,339 shares of the financial services provider’s stock valued at $743,000 after acquiring an additional 963 shares during the last quarter. SPC Financial Inc. lifted its position in shares of Prudential Financial by 2.7% in the second quarter. SPC Financial Inc. now owns 3,802 shares of the financial services provider’s stock valued at $446,000 after acquiring an additional 100 shares in the last quarter. Finally, 3Chopt Investment Partners LLC acquired a new stake in shares of Prudential Financial in the second quarter worth approximately $281,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Activity

In other news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was acquired at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the transaction, the insider now owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.31% of the company’s stock.

Prudential Financial Trading Up 1.0 %

NYSE PRU opened at $122.44 on Thursday. Prudential Financial, Inc. has a one year low of $100.60 and a one year high of $130.55. The firm has a 50 day simple moving average of $121.07 and a 200-day simple moving average of $120.65. The firm has a market cap of $43.59 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 1.09 and a beta of 1.31. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. The business had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter in the prior year, the company earned $3.44 earnings per share. Equities research analysts anticipate that Prudential Financial, Inc. will post 13.24 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.25%. Prudential Financial’s dividend payout ratio (DPR) is 46.22%.

Wall Street Analyst Weigh In

PRU has been the subject of several recent research reports. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and increased their price objective for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. Keefe, Bruyette & Woods decreased their price target on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating on the stock in a research note on Thursday, January 16th. Bank of America upped their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. BMO Capital Markets started coverage on Prudential Financial in a report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 target price on the stock. Finally, Piper Sandler dropped their price target 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. One analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Prudential Financial has an average rating of “Hold” and an average price target of $125.31.

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.