Nykredit A S Makes New $10.53 Million Investment in Prudential Financial, Inc. $PRU

Nykredit A S bought a new stake in Prudential Financial, Inc. (NYSE:PRU) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 97,518 shares of the financial services provider’s stock, valued at approximately $10,525,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jessup Wealth Management Inc purchased a new stake in shares of Prudential Financial during the 4th quarter valued at approximately $25,000. Garton & Associates Financial Advisors LLC purchased a new position in Prudential Financial in the fourth quarter worth approximately $26,000. Archer Investment Corp acquired a new stake in Prudential Financial during the second quarter worth $26,000. Basepoint Wealth LLC purchased a new stake in Prudential Financial in the fourth quarter valued at $30,000. Finally, SJS Investment Consulting Inc. raised its position in Prudential Financial by 93.1% in the first quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 134 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Performance

NYSE:PRU opened at $122.06 on Friday. Prudential Financial, Inc. has a 52 week low of $91.89 and a 52 week high of $127.72. The company has a fifty day simple moving average of $119.17 and a two-hundred day simple moving average of $106.83. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.62. The company has a market cap of $42.11 billion, a price-to-earnings ratio of 11.06, a price-to-earnings-growth ratio of 1.84 and a beta of 0.83.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.52 by $0.56. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%.The company had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.36 billion. During the same quarter in the prior year, the business earned $3.58 EPS. As a group, equities analysts anticipate that Prudential Financial, Inc. will post 14.51 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Tuesday, August 25th. Prudential Financial’s payout ratio is 50.72%.

Insider Activity

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

Wall Street Analysts Forecast Growth

PRU has been the subject of a number of research analyst reports. Zacks Research upgraded Prudential Financial from a “strong sell” rating to a “hold” rating in a report on Friday, June 12th. Keefe, Bruyette & Woods upped their target price on shares of Prudential Financial from $113.00 to $123.00 and gave the company a “market perform” rating in a research report on Tuesday, August 11th. Morgan Stanley lifted their price target on shares of Prudential Financial from $92.00 to $105.00 and gave the company an “underweight” rating in a research report on Monday, August 24th. Mizuho boosted their price target on shares of Prudential Financial from $101.00 to $109.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Finally, Weiss Ratings raised shares of Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $109.31.

Key Stories Impacting Prudential Financial

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

• Positive Sentiment: Prudential’s PGIM asset-management unit launched two core equity exchange-traded funds, expanding its investment-product lineup and potentially supporting fee-based revenue and distribution growth. Prudential Financial’s PGIM launches two core equity ETFs
• Positive Sentiment: Prudential recently reported second-quarter adjusted earnings of $4.08 per share, above the $3.52 analyst consensus and ahead of the $3.58 reported in the prior-year period. The earnings beat provides a supportive fundamental backdrop, although quarterly revenue was slightly below expectations. What Prudential Financial’s Targeted Long-Term Debt Issuance and Earnings Beat Means For Shareholders
• Positive Sentiment: Prudential Advisors added Cleveland-based advisor Zachary Karason, who brings more than 12 years of experience and over $106 million in client assets. The hire may modestly strengthen Prudential’s wealth-management distribution and asset-gathering capabilities. Prudential Advisors Welcomes Zachary Karason to Mid America Financial Group
• Neutral Sentiment: Prudential issued multiple senior unsecured fixed-rate notes with maturities from 2029 through 2036. The staggered maturities and mix of callable and non-callable debt could improve funding flexibility, but the offerings also add interest obligations. What Prudential Financial’s Targeted Long-Term Debt Issuance and Earnings Beat Means For Shareholders
• Negative Sentiment: A recent analysis noted that PRU has declined modestly since its latest earnings report, suggesting investors have not fully rewarded the earnings beat and may remain focused on forward estimates, interest rates and insurance-sector conditions. Prudential Down Since Last Earnings Report

About Prudential Financial

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.