Prudential Financial, Inc. (NYSE:PRU) Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board raised its position in Prudential Financial, Inc. (NYSE:PRU) by 7.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,880 shares of the financial services provider’s stock after acquiring an additional 4,212 shares during the quarter. Public Sector Pension Investment Board’s holdings in Prudential Financial were worth $7,135,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Prudential Financial by 13.9% during the fourth quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock valued at $4,386,192,000 after acquiring an additional 5,154,865 shares in the last quarter. AustralianSuper Pty Ltd raised its holdings in Prudential Financial by 2.8% in the second quarter. AustralianSuper Pty Ltd now owns 1,237,537 shares of the financial services provider’s stock valued at $145,027,000 after acquiring an additional 34,160 shares in the last quarter. Federated Hermes Inc. grew its holdings in Prudential Financial by 8.8% during the 2nd quarter. Federated Hermes Inc. now owns 1,025,527 shares of the financial services provider’s stock worth $120,181,000 after acquiring an additional 82,620 shares in the last quarter. Stifel Financial Corp raised its stake in shares of Prudential Financial by 0.4% in the 4th quarter. Stifel Financial Corp now owns 1,003,558 shares of the financial services provider’s stock valued at $104,080,000 after purchasing an additional 4,006 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in Prudential Financial by 7.2% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 926,641 shares of the financial services provider’s stock worth $108,788,000 after purchasing an additional 62,578 shares in the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Trading Down 0.8 %

Shares of PRU stock opened at $119.88 on Wednesday. The firm has a market capitalization of $42.80 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 0.96 and a beta of 1.30. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial, Inc. has a 1 year low of $87.95 and a 1 year high of $128.52. The stock has a fifty day moving average of $117.60 and a two-hundred day moving average of $116.52.

Prudential Financial (NYSE:PRU) last announced its earnings results on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing the consensus estimate of $3.43 by ($0.04). The firm had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. As a group, research analysts expect that Prudential Financial, Inc. will post 13.3 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders 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 annualized dividend and a dividend yield of 4.34%. Prudential Financial’s dividend payout ratio (DPR) is 88.44%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Barclays assumed coverage on Prudential Financial in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $118.00 price objective on the stock. Citigroup boosted their target price on shares of Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. UBS Group lifted their price target 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. Wells Fargo & Company upgraded shares of Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price objective on the stock in a research note on Monday, August 12th. Finally, Jefferies Financial Group lowered their target price on Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a report on Friday, June 28th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $120.83.

Insider Transactions at Prudential Financial

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

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 Life, and International Businesses segments.