MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Trims Stock Position in Prudential Financial, Inc. (NYSE:PRU)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lessened its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 34.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,685 shares of the financial services provider’s stock after selling 6,627 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Prudential Financial were worth $1,489,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PRU. Vanguard Group Inc. raised its position in Prudential Financial by 13.9% in the 4th quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock valued at $4,386,192,000 after purchasing an additional 5,154,865 shares during the last quarter. International Assets Investment Management LLC raised its position in Prudential Financial by 9,281.4% in the 4th quarter. International Assets Investment Management LLC now owns 1,368,839 shares of the financial services provider’s stock valued at $141,962,000 after purchasing an additional 1,354,248 shares during the last quarter. Norges Bank purchased a new stake in Prudential Financial in the 4th quarter valued at $113,478,000. Dimensional Fund Advisors LP raised its position in Prudential Financial by 10.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,000,665 shares of the financial services provider’s stock valued at $414,926,000 after purchasing an additional 388,363 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new position in Prudential Financial during the 3rd quarter worth $34,251,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, SVP Timothy L. Schmidt sold 5,189 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total transaction of $604,933.62. Following the sale, the senior vice president now owns 12,236 shares in the company, valued at approximately $1,426,472.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Robert Falzon sold 130,092 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the sale, the executive vice president now owns 202,083 shares in the company, valued at $23,960,981.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Timothy L. Schmidt sold 5,189 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total value of $604,933.62. Following the sale, the senior vice president now owns 12,236 shares in the company, valued at approximately $1,426,472.88. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Prudential Financial Trading Up 0.9 %

Shares of PRU opened at $118.55 on Wednesday. Prudential Financial, Inc. has a 1-year low of $87.57 and a 1-year high of $121.39. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a 50 day simple moving average of $116.50 and a 200-day simple moving average of $111.05. The stock has a market cap of $42.56 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 0.88 and a beta of 1.34.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). The company had revenue of $15.01 billion for the quarter, compared to analyst estimates of $14.50 billion. Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. Prudential Financial’s quarterly revenue was up 69.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.66 EPS. Equities analysts forecast that Prudential Financial, Inc. will post 13.41 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date was Monday, May 20th. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PRU. Wells Fargo & Company upped their price objective on shares of Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. upped their price objective on shares of Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday. Jefferies Financial Group cut their price objective on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Piper Sandler cut their price objective on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and a consensus target price of $115.92.

About Prudential Financial

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.