SEB Asset Management AB Invests $7.47 Million in Prudential Financial, Inc. $PRU

SEB Asset Management AB bought a new position in Prudential Financial, Inc. (NYSE:PRU) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 76,483 shares of the financial services provider’s stock, valued at approximately $7,472,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Sunflower Bank N.A. lifted its position in shares of Prudential Financial by 3.2% during the 4th quarter. Sunflower Bank N.A. now owns 2,911 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 91 shares during the last quarter. Wetzel Investment Advisors Inc. grew its holdings in Prudential Financial by 0.9% in the 4th quarter. Wetzel Investment Advisors Inc. now owns 10,022 shares of the financial services provider’s stock valued at $1,131,000 after buying an additional 94 shares during the last quarter. Transcend Capital Advisors LLC increased its position in Prudential Financial by 2.4% in the 4th quarter. Transcend Capital Advisors LLC now owns 4,175 shares of the financial services provider’s stock worth $471,000 after buying an additional 98 shares during the period. Rossby Financial LCC lifted its holdings in shares of Prudential Financial by 32.4% during the fourth quarter. Rossby Financial LCC now owns 421 shares of the financial services provider’s stock worth $48,000 after buying an additional 103 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its position in shares of Prudential Financial by 5.6% in the fourth quarter. TD Private Client Wealth LLC now owns 1,972 shares of the financial services provider’s stock valued at $223,000 after acquiring an additional 104 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Up 0.4%

PRU opened at $118.47 on Wednesday. The company has a market capitalization of $41.11 billion, a P/E ratio of 12.19, a P/E/G ratio of 2.35 and a beta of 0.85. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. The firm’s fifty day moving average price is $107.93 and its two-hundred day moving average price is $104.18. Prudential Financial, Inc. has a fifty-two week low of $91.89 and a fifty-two week high of $120.53.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.52. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. The company had revenue of $15.23 billion during the quarter, compared to the consensus estimate of $14.10 billion. During the same period last year, the firm earned $3.29 EPS. On average, analysts anticipate that Prudential Financial, Inc. will post 13.81 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, May 26th were paid a dividend of $1.40 per share. The ex-dividend date was Tuesday, May 26th. This represents a $5.60 dividend on an annualized basis and a yield of 4.7%. Prudential Financial’s dividend payout ratio (DPR) is currently 57.61%.

Wall Street Analysts Forecast Growth

PRU has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their target price on shares of Prudential Financial from $106.00 to $113.00 and gave the stock a “market perform” rating in a research report on Monday, July 13th. UBS Group decreased their price target on shares of Prudential Financial from $105.00 to $98.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. Jefferies Financial Group boosted their price objective on shares of Prudential Financial from $105.00 to $110.00 and gave the stock a “hold” rating in a report on Friday, July 10th. Morgan Stanley reiterated an “underweight” rating and issued a $92.00 target price (down from $106.00) on shares of Prudential Financial in a research note on Monday, May 4th. Finally, Barclays lifted their target price on Prudential Financial from $90.00 to $92.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 7th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $104.75.

Prudential Financial 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.