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

Skandinaviska Enskilda Banken AB publ increased its position in shares of Prudential Financial, Inc. (NYSE:PRUFree Report) by 51.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 102,657 shares of the financial services provider’s stock after buying an additional 35,069 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Prudential Financial were worth $9,741,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Czech National Bank raised its position in shares of Prudential Financial by 46.8% during the 3rd quarter. Czech National Bank now owns 63,444 shares of the financial services provider’s stock valued at $6,020,000 after buying an additional 20,235 shares during the period. Bridgewater Associates LP increased its holdings in Prudential Financial by 80.5% in the 2nd quarter. Bridgewater Associates LP now owns 248,877 shares of the financial services provider’s stock valued at $21,956,000 after purchasing an additional 110,982 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Prudential Financial by 14.5% in the 3rd quarter. Victory Capital Management Inc. now owns 268,728 shares of the financial services provider’s stock valued at $25,500,000 after purchasing an additional 34,054 shares during the last quarter. AMF Tjanstepension AB increased its holdings in Prudential Financial by 5.5% in the 3rd quarter. AMF Tjanstepension AB now owns 265,099 shares of the financial services provider’s stock valued at $25,181,000 after purchasing an additional 13,800 shares during the last quarter. Finally, Cerity Partners LLC increased its holdings in Prudential Financial by 63.6% in the 2nd quarter. Cerity Partners LLC now owns 137,498 shares of the financial services provider’s stock valued at $12,130,000 after purchasing an additional 53,461 shares during the last quarter. Hedge funds and other institutional investors own 54.92% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on PRU shares. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $118.00 target price (down previously from $119.00) on shares of Prudential Financial in a report on Wednesday, January 3rd. Raymond James downgraded shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday. TheStreet upgraded shares of Prudential Financial from a “c+” rating to an “a-” rating in a research note on Tuesday, February 6th. UBS Group boosted their price target on shares of Prudential Financial from $97.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. Finally, Morgan Stanley boosted their target price on shares of Prudential Financial from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating and ten have issued a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $105.20.

View Our Latest Report on Prudential Financial

Insider Buying and Selling

In related news, CFO Kenneth Tanji sold 23,124 shares of the stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $105.14, for a total transaction of $2,431,257.36. Following the completion of the transaction, the chief financial officer now directly owns 47,155 shares of the company’s stock, valued at $4,957,876.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Prudential Financial news, SVP Timothy L. Schmidt sold 8,281 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $94.49, for a total transaction of $782,471.69. Following the completion of the transaction, the senior vice president now directly owns 14,621 shares of the company’s stock, valued at approximately $1,381,538.29. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kenneth Tanji sold 23,124 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $105.14, for a total transaction of $2,431,257.36. Following the transaction, the chief financial officer now directly owns 47,155 shares of the company’s stock, valued at $4,957,876.70. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by corporate insiders.

Prudential Financial Price Performance

Shares of PRU opened at $105.58 on Monday. Prudential Financial, Inc. has a 1-year low of $75.37 and a 1-year high of $109.63. The stock has a market cap of $38.11 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 0.67 and a beta of 1.37. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.07. The firm has a fifty day moving average price of $103.50 and a 200 day moving average price of $97.54.

Prudential Financial (NYSE:PRUGet Free Report) last announced its earnings results on Tuesday, February 6th. The financial services provider reported $2.58 EPS for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.09). Prudential Financial had a net margin of 4.89% and a return on equity of 14.52%. The business had revenue of $13.02 billion during the quarter, compared to analysts’ expectations of $12.99 billion. During the same period in the previous year, the company posted $2.42 earnings per share. Prudential Financial’s quarterly revenue was up 6.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Prudential Financial, Inc. will post 13.47 EPS for the current year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 14th. Investors of record on Tuesday, February 20th will be issued a dividend of $1.30 per share. This is a boost from Prudential Financial’s previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a yield of 4.93%. The ex-dividend date is Friday, February 16th. Prudential Financial’s dividend payout ratio is currently 74.74%.

Prudential Financial Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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