Prudential Financial, Inc. $PRU Shares Bought by Viking Fund Management LLC

Viking Fund Management LLC lifted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 42.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 124,000 shares of the financial services provider’s stock after purchasing an additional 37,000 shares during the period. Prudential Financial comprises approximately 1.6% of Viking Fund Management LLC’s portfolio, making the stock its 14th largest position. Viking Fund Management LLC’s holdings in Prudential Financial were worth $12,864,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Prudential Financial by 1.4% in the second quarter. Vanguard Group Inc. now owns 42,502,160 shares of the financial services provider’s stock valued at $4,566,432,000 after buying an additional 600,482 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Prudential Financial by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 9,402,393 shares of the financial services provider’s stock worth $1,010,474,000 after acquiring an additional 163,874 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Prudential Financial by 1.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,408,942 shares of the financial services provider’s stock worth $258,817,000 after purchasing an additional 31,088 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Prudential Financial by 5.6% in the first quarter. Ameriprise Financial Inc. now owns 1,801,551 shares of the financial services provider’s stock valued at $201,201,000 after purchasing an additional 95,021 shares in the last quarter. Finally, Amundi boosted its holdings in Prudential Financial by 14.1% in the first quarter. Amundi now owns 1,751,633 shares of the financial services provider’s stock valued at $183,571,000 after purchasing an additional 216,119 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Transactions at Prudential Financial

In related news, EVP Caroline Feeney sold 6,555 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $116.28, for a total transaction of $762,215.40. Following the completion of the sale, the executive vice president directly owned 22,523 shares of the company’s stock, valued at $2,618,974.44. This trade represents a 22.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Timothy L. Schmidt sold 8,000 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $107.69, for a total transaction of $861,520.00. Following the completion of the transaction, the senior vice president directly owned 11,535 shares in the company, valued at $1,242,204.15. This represents a 40.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 62,719 shares of company stock worth $6,796,067 over the last 90 days. 0.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PRU. Wall Street Zen upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Morgan Stanley boosted their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. Wolfe Research began coverage on shares of Prudential Financial in a research note on Tuesday, September 16th. They issued a “peer perform” rating for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Prudential Financial in a research report on Monday, December 15th. Finally, Mizuho assumed coverage on Prudential Financial in a report on Tuesday, December 16th. They issued a “neutral” rating and a $125.00 target price for the company. Eleven investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $116.80.

Prudential Financial Trading Down 0.5%

NYSE PRU opened at $114.97 on Friday. The firm’s fifty day moving average is $107.05 and its two-hundred day moving average is $105.80. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $123.88. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market cap of $40.24 billion, a PE ratio of 15.79, a P/E/G ratio of 0.94 and a beta of 0.97.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. The firm had revenue of $8.35 billion for the quarter. Prudential Financial had a return on equity of 16.60% and a net margin of 4.65%. Analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Tuesday, November 18th were issued a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.7%. Prudential Financial’s payout ratio is presently 74.18%.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.