Prudential Financial, Inc. $PRU Shares Acquired by National Pension Service

National Pension Service grew its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 840,126 shares of the financial services provider’s stock after purchasing an additional 35,677 shares during the quarter. National Pension Service’s holdings in Prudential Financial were worth $90,675,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Jessup Wealth Management Inc purchased a new stake in Prudential Financial in the fourth quarter valued at about $25,000. Archer Investment Corp purchased a new stake in shares of Prudential Financial during the second quarter worth about $26,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of Prudential Financial during the fourth quarter valued at about $26,000. SJS Investment Consulting Inc. raised its position in shares of Prudential Financial by 93.1% in the 1st 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 last quarter. Finally, Basepoint Wealth LLC acquired a new stake in Prudential Financial in the 4th quarter worth approximately $30,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wall Street Zen cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Saturday. TD Cowen upped their target price on Prudential Financial from $102.00 to $114.00 and gave the company a “hold” rating in a research report on Wednesday, July 22nd. Argus cut Prudential Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, June 9th. Zacks Research upgraded Prudential Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, June 12th. Finally, Mizuho increased their price target on shares of Prudential Financial from $101.00 to $109.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. One research 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. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $109.31.

Prudential Financial Stock Performance

NYSE PRU opened at $119.18 on Friday. The stock has a 50-day simple moving average of $120.03 and a two-hundred day simple moving average of $107.38. The firm has a market capitalization of $41.12 billion, a P/E ratio of 10.80, a PEG ratio of 1.78 and a beta of 0.83. Prudential Financial, Inc. has a fifty-two week low of $91.89 and a fifty-two week high of $127.72. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.16 and a current ratio of 0.16.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.52 by $0.56. The business 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 in the previous year, the firm posted $3.58 EPS. On average, equities analysts forecast that Prudential Financial, Inc. will post 14.51 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 4.7%. The ex-dividend date was Tuesday, August 25th. Prudential Financial’s dividend payout ratio is currently 50.72%.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of Prudential Financial stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $24.75, for a total value of $5,314,963.50. Following the sale, the insider owned 7,973,657 shares of the company’s stock, valued at approximately $197,348,010.75. This trade represents a 2.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ann M. Kappler sold 7,652 shares of the business’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $125.01, for a total transaction of $956,576.52. Following the completion of the sale, the executive vice president directly owned 14,407 shares of the company’s stock, valued at approximately $1,801,019.07. The trade was a 34.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.05% of the company’s stock.

About Prudential Financial

Prudential Financial, Inc is a global financial services company headquartered in Newark, New Jersey. Founded in 1875 as The Widows and Orphans Friendly Society, the company has grown from a life insurance provider into a diversified business offering insurance, retirement, investment management and related financial services.

Through its U.S. businesses, Prudential provides individual life insurance and annuities, workplace retirement plans, pension risk transfer solutions, group life and disability insurance, and other benefits and financial wellness products.