Raiffeisen Bank International AG Increases Stock Position in Prudential Financial, Inc. $PRU

Raiffeisen Bank International AG boosted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 7.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,566 shares of the financial services provider’s stock after purchasing an additional 6,237 shares during the quarter. Raiffeisen Bank International AG’s holdings in Prudential Financial were worth $9,999,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Rogco LP raised its holdings in shares of Prudential Financial by 2.1% in the second quarter. Rogco LP now owns 6,083 shares of the financial services provider’s stock valued at $657,000 after buying an additional 126 shares during the last quarter. TD Waterhouse Canada Inc. grew its holdings in shares of Prudential Financial by 4.2% during the second quarter. TD Waterhouse Canada Inc. now owns 28,036 shares of the financial services provider’s stock worth $3,114,000 after buying an additional 1,130 shares during the last quarter. Premier Path Wealth Partners LLC increased its position in Prudential Financial by 4.1% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 4,321 shares of the financial services provider’s stock valued at $466,000 after acquiring an additional 172 shares during the period. Prosperitas Financial LLC purchased a new stake in Prudential Financial during the 2nd quarter valued at approximately $226,000. Finally, NEOS Investment Management LLC lifted its position in Prudential Financial by 3.4% during the 2nd quarter. NEOS Investment Management LLC now owns 55,788 shares of the financial services provider’s stock worth $6,021,000 after acquiring an additional 1,844 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Prudential Financial

Here are the key news stories impacting Prudential Financial this week:

• Positive Sentiment: Prudential Advisors added an experienced advisor overseeing more than $106 million in client assets. Zachary Karason joined the Mid America Financial Group after roles at U.S. Bancorp Advisors and Merrill Lynch. The move could modestly support Prudential’s wealth-management growth and advisor recruiting efforts. Prudential Advisors Welcomes Zachary Karason to Mid America Financial Group
• Neutral Sentiment: Prudential’s latest earnings were better than expected, but revenue fell short of estimates. The company reported quarterly earnings of $4.08 per share, above the $3.52 analyst consensus, while revenue of $14.16 billion trailed the $14.36 billion estimate. The earnings beat is supportive, although the revenue miss and comparisons with the prior year provide a mixed signal for investors. Prudential Down Since Last Earnings Report: Can It Rebound?
• Negative Sentiment: PRU has slightly underperformed since its earnings release. A market update noted that the stock was down 0.3% over the 30 days following its report, suggesting that the earnings beat has not yet translated into sustained momentum and that investors may be looking for stronger forward guidance or estimate revisions. Prudential Down 0.3% Since Last Earnings Report

Analyst Ratings Changes

PRU has been the subject of several recent research reports. Piper Sandler increased their price target on Prudential Financial from $110.00 to $128.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Weiss Ratings raised shares of Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. raised their target price on shares of Prudential Financial from $129.00 to $131.00 and gave the stock a “neutral” rating in a research note on Monday, August 17th. TD Cowen increased their price target on shares of Prudential Financial from $102.00 to $114.00 and gave the stock a “hold” rating in a report on Wednesday, July 22nd. Finally, Wall Street Zen raised Prudential Financial from a “hold” rating to a “buy” rating in a report on Saturday, August 29th. One analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $109.31.

Insiders Place Their Bets

In other news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $24.75, for a total value of $5,314,963.50. Following the transaction, the insider directly owned 7,973,657 shares in the company, valued at $197,348,010.75. This trade represents a 2.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ann Kappler sold 7,652 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $125.01, for a total transaction of $956,576.52. Following the completion of the transaction, the executive vice president directly owned 14,407 shares in the company, valued at approximately $1,801,019.07. This represents a 34.69% decrease in their position. The SEC filing for this sale provides additional information. 0.05% of the stock is currently owned by company insiders.

Prudential Financial Price Performance

Prudential Financial stock opened at $123.15 on Friday. The firm has a market capitalization of $42.49 billion, a PE ratio of 11.15, a P/E/G ratio of 1.80 and a beta of 0.83. Prudential Financial, Inc. has a 52 week low of $91.89 and a 52 week high of $127.72. The firm’s 50-day simple moving average is $118.90 and its 200 day simple moving average is $106.72. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.62.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.52 by $0.56. The firm had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.36 billion. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%.During the same quarter last year, the business posted $3.58 EPS. On average, equities research analysts predict that Prudential Financial, Inc. will post 14.51 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Tuesday, August 25th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Tuesday, August 25th. Prudential Financial’s dividend payout ratio (DPR) is 50.72%.

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.