Skandinaviska Enskilda Banken AB publ Grows Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Skandinaviska Enskilda Banken AB publ increased its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 0.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 69,683 shares of the financial services provider’s stock after purchasing an additional 100 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Prudential Financial were worth $8,166,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Creekmur Asset Management LLC raised its holdings in shares of Prudential Financial by 78.8% during the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 108 shares during the last quarter. Lynx Investment Advisory purchased a new position in shares of Prudential Financial during the second quarter valued at approximately $29,000. Strategic Financial Concepts LLC raised its holdings in shares of Prudential Financial by 1,312.4% during the second quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 25,027 shares during the last quarter. Crewe Advisors LLC purchased a new position in shares of Prudential Financial during the first quarter valued at approximately $33,000. Finally, ESL Trust Services LLC purchased a new position in shares of Prudential Financial during the first quarter valued at approximately $34,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Ann M. Kappler sold 2,839 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the transaction, the executive vice president now owns 14,535 shares in the company, valued at $1,648,705.05. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the transaction, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the transaction, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PRU has been the subject of a number of research reports. Citigroup upped their target price on shares of Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $121.00 target price on shares of Prudential Financial in a report on Wednesday, August 21st. Morgan Stanley reduced their target price on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Jefferies Financial Group reduced their target price on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a report on Friday, June 28th. Finally, UBS Group upped their target price on shares of Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $120.83.

Prudential Financial Stock Performance

Shares of NYSE PRU opened at $121.36 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a fifty day moving average price of $117.83 and a 200-day moving average price of $116.34. Prudential Financial, Inc. has a 1 year low of $87.95 and a 1 year high of $128.52. The stock has a market cap of $43.57 billion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 0.91 and a beta of 1.30.

Prudential Financial (NYSE:PRU) last issued its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. The company had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Equities analysts anticipate that Prudential Financial, Inc. will post 13.31 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were given a dividend of $1.30 per share. The ex-dividend date was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.28%. Prudential Financial’s dividend payout ratio is 88.44%.

Prudential Financial 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.