Andra AP fonden Trims Stake in Prudential Financial, Inc. (NYSE:PRU)

Andra AP fonden cut its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 71.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,600 shares of the financial services provider’s stock after selling 6,600 shares during the period. Andra AP fonden’s holdings in Prudential Financial were worth $305,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Prudential Financial by 13.9% during 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 buying an additional 5,154,865 shares in the last quarter. Norges Bank bought a new position in shares of Prudential Financial in the fourth quarter worth approximately $113,478,000. Swedbank AB bought a new stake in shares of Prudential Financial during the 1st quarter valued at $35,855,000. Schroder Investment Management Group lifted its stake in shares of Prudential Financial by 387.6% during the 4th quarter. Schroder Investment Management Group now owns 332,421 shares of the financial services provider’s stock valued at $34,475,000 after buying an additional 264,247 shares in the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in Prudential Financial in the 4th quarter worth $18,568,000. Institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling

In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the sale, the executive vice president now owns 14,535 shares in the company, valued at $1,648,705.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the sale, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PRU has been the topic of several research analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $121.00 price objective on shares of Prudential Financial in a research report on Wednesday, August 21st. Jefferies Financial Group dropped their price target on Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Citigroup lifted their price objective on shares of Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Morgan Stanley dropped their target price on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Finally, Barclays started coverage on shares of Prudential Financial in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Prudential Financial currently has a consensus rating of “Hold” and a consensus target price of $120.83.

Prudential Financial Trading Up 1.0 %

PRU opened at $115.84 on Friday. Prudential Financial, Inc. has a 12 month low of $87.95 and a 12 month high of $128.52. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. The stock has a 50-day moving average of $117.89 and a 200 day moving average of $115.82. The firm has a market cap of $41.59 billion, a P/E ratio of 19.70, a P/E/G ratio of 0.88 and a beta of 1.30.

Prudential Financial (NYSE:PRU) last released its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing the consensus estimate of $3.43 by ($0.04). The company had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. As a group, research analysts forecast that Prudential Financial, Inc. will post 13.31 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were issued a $1.30 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 4.49%. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

Prudential Financial Profile

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.