Prudential Financial, Inc. $PRU Shares Acquired by Lansforsakringar Fondforvaltning AB publ

Lansforsakringar Fondforvaltning AB publ increased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 175.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,072 shares of the financial services provider’s stock after buying an additional 5,141 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Prudential Financial were worth $789,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Jessup Wealth Management Inc purchased a new stake in shares of Prudential Financial in the 4th quarter valued at $25,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of Prudential Financial in the 4th quarter valued at about $26,000. Salomon & Ludwin LLC boosted its stake in shares of Prudential Financial by 98.3% in the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock worth $27,000 after buying an additional 114 shares during the last quarter. Lodestone Wealth Management LLC acquired a new stake in Prudential Financial during the fourth quarter worth about $28,000. Finally, Coston McIsaac & Partners grew its holdings in Prudential Financial by 93.4% during the fourth quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 128 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Stock Performance

Shares of PRU stock opened at $112.83 on Friday. The company has a market capitalization of $39.15 billion, a P/E ratio of 11.61, a P/E/G ratio of 2.06 and a beta of 0.85. The business’s 50 day moving average is $103.68 and its two-hundred day moving average is $104.15. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. Prudential Financial, Inc. has a 12-month low of $91.89 and a 12-month high of $119.76.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.52. The business had revenue of $15.23 billion during the quarter, compared to analysts’ expectations of $14.10 billion. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.During the same period in the previous year, the business earned $3.29 earnings per share. Analysts expect that Prudential Financial, Inc. will post 13.81 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, May 26th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend was Tuesday, May 26th. Prudential Financial’s payout ratio is presently 57.61%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PRU shares. Evercore reissued a “negative” rating on shares of Prudential Financial in a report on Friday, March 6th. BMO Capital Markets dropped their price objective on shares of Prudential Financial from $91.00 to $87.00 and set an “underperform” rating on the stock in a research note on Thursday, April 23rd. Keefe, Bruyette & Woods lifted their target price on shares of Prudential Financial from $100.00 to $106.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. Piper Sandler increased their price target on shares of Prudential Financial from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, June 24th. Finally, Weiss Ratings upgraded shares of Prudential Financial from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 12th. Eleven equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $101.92.

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.