Nordea Investment Management AB Has $180.34 Million Stock Position in Prudential Financial, Inc. $PRU

Nordea Investment Management AB raised its position in Prudential Financial, Inc. (NYSE:PRU) by 1.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,752,952 shares of the financial services provider’s stock after purchasing an additional 32,171 shares during the quarter. Nordea Investment Management AB owned approximately 0.50% of Prudential Financial worth $180,344,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Darwin Wealth Management LLC acquired a new position in Prudential Financial in the second quarter worth approximately $36,000. AlphaCore Capital LLC acquired a new position in shares of Prudential Financial during the 2nd quarter worth $39,000. Capital A Wealth Management LLC raised its holdings in shares of Prudential Financial by 4,600.0% during the 2nd quarter. Capital A Wealth Management LLC now owns 376 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 368 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in shares of Prudential Financial in the 2nd quarter valued at $51,000. Finally, Crews Bank & Trust boosted its holdings in Prudential Financial by 36.4% in the second quarter. Crews Bank & Trust now owns 547 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 146 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Mizuho began coverage on Prudential Financial in a research report on Tuesday, December 16th. They issued a “neutral” rating and a $125.00 price target for the company. Morgan Stanley raised their price objective on Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Weiss Ratings raised Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Wall Street Zen lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a report on Monday, November 3rd. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Prudential Financial has a consensus rating of “Hold” and a consensus price target of $118.80.

Insider Buying and Selling

In related news, EVP Caroline Feeney sold 6,555 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $116.28, for a total transaction of $762,215.40. Following the transaction, the executive vice president directly owned 22,523 shares in the company, valued at $2,618,974.44. The trade was a 22.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Charles F. Lowrey sold 48,164 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $107.39, for a total value of $5,172,331.96. Following the completion of the sale, the chairman owned 165,564 shares of the company’s stock, valued at $17,779,917.96. This represents a 22.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 62,719 shares of company stock valued at $6,796,067 over the last three months. 0.25% of the stock is owned by corporate insiders.

Prudential Financial Stock Performance

Shares of NYSE PRU opened at $116.52 on Wednesday. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $123.88. The company has a market cap of $40.78 billion, a P/E ratio of 16.00, a P/E/G ratio of 0.94 and a beta of 0.97. The business’s 50 day moving average is $111.50 and its two-hundred day moving average is $107.05. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $4.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.72 by $0.54. The business had revenue of $17.89 billion for the quarter, compared to the consensus estimate of $13.77 billion. Prudential Financial had a net margin of 4.65% and a return on equity of 16.60%. During the same quarter last year, the company posted $3.48 earnings per share. On average, equities analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Tuesday, November 18th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Tuesday, November 18th. Prudential Financial’s dividend payout ratio (DPR) is presently 74.18%.

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.