Swiss National Bank Sells 135,000 Shares of Prudential Financial, Inc. (NYSE:PRU)

Swiss National Bank trimmed its position in Prudential Financial, Inc. (NYSE:PRU) by 9.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,325,400 shares of the financial services provider’s stock after selling 135,000 shares during the period. Swiss National Bank’s holdings in Prudential Financial were worth $116,927,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PRU. Moneta Group Investment Advisors LLC raised its position in shares of Prudential Financial by 104,987.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,450,633 shares of the financial services provider’s stock worth $243,740,000 after buying an additional 2,448,301 shares in the last quarter. Providence Capital Advisors LLC raised its holdings in shares of Prudential Financial by 8,350.2% in the 1st quarter. Providence Capital Advisors LLC now owns 2,219,790 shares of the financial services provider’s stock valued at $26,828,000 after acquiring an additional 2,193,521 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Prudential Financial by 98,060.5% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,968,118 shares of the financial services provider’s stock valued at $173,627,000 after acquiring an additional 1,966,113 shares during the last quarter. Norges Bank bought a new position in shares of Prudential Financial in the fourth quarter worth approximately $172,363,000. Finally, Cowa LLC lifted its position in Prudential Financial by 9,930.2% during the first quarter. Cowa LLC now owns 771,824 shares of the financial services provider’s stock valued at $912,000 after purchasing an additional 764,129 shares during the last quarter. 54.92% of the stock is currently owned by institutional investors.

Prudential Financial Price Performance

Shares of Prudential Financial stock opened at $94.28 on Wednesday. The firm has a market cap of $34.04 billion, a PE ratio of 60.83, a price-to-earnings-growth ratio of 0.74 and a beta of 1.39. The company’s fifty day simple moving average is $93.74 and its two-hundred day simple moving average is $90.38. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.70. Prudential Financial, Inc. has a 12-month low of $75.37 and a 12-month high of $110.22.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.16 by $0.28. Prudential Financial had a return on equity of 16.03% and a net margin of 1.21%. The company had revenue of $10.13 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter in the previous year, the business earned $2.13 EPS. As a group, equities analysts expect that Prudential Financial, Inc. will post 11.79 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Tuesday, November 21st will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 5.30%. The ex-dividend date of this dividend is Monday, November 20th. Prudential Financial’s dividend payout ratio is currently 322.58%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. StockNews.com started coverage on shares of Prudential Financial in a report on Thursday, October 5th. They set a “hold” rating for the company. JPMorgan Chase & Co. decreased their price objective on Prudential Financial from $121.00 to $119.00 and set an “overweight” rating on the stock in a report on Friday, October 6th. Wells Fargo & Company upped their target price on Prudential Financial from $89.00 to $92.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 15th. TheStreet lowered shares of Prudential Financial from a “b” rating to a “c” rating in a report on Wednesday, November 1st. Finally, Morgan Stanley increased their target price on shares of Prudential Financial from $102.00 to $103.00 and gave the company an “equal weight” rating in a report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $103.00.

About Prudential Financial

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 Annuities, Individual Life, Assurance IQ, and International Businesses segments.