Prudential Financial, Inc. (NYSE:PRU) Shares Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lifted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.6% during the second quarter, Holdings Channel.com reports. The firm owned 155,404 shares of the financial services provider’s stock after acquiring an additional 4,000 shares during the period. Canada Pension Plan Investment Board’s holdings in Prudential Financial were worth $18,212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in PRU. Vanguard Group Inc. grew its stake 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 acquiring an additional 5,154,865 shares during the period. Swedbank AB acquired a new stake in Prudential Financial in the 1st quarter valued at $35,855,000. Schroder Investment Management Group grew its stake in Prudential Financial by 387.6% in 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 acquiring an additional 264,247 shares during the period. Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in Prudential Financial in the 4th quarter valued at $18,568,000. Finally, Gillson Capital LP acquired a new stake in Prudential Financial in the 4th quarter valued at $16,536,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

PRU has been the topic of a number of research analyst reports. UBS Group lifted their price target on shares of Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Jefferies Financial Group decreased their price objective on Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Barclays started coverage on Prudential Financial in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 price objective on the stock. Citigroup raised their price objective on Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Finally, Morgan Stanley decreased their price objective on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $120.83.

Prudential Financial Stock Down 0.4 %

NYSE PRU opened at $121.36 on Monday. The firm has a market cap of $43.57 billion, a PE ratio of 20.64, a P/E/G ratio of 0.91 and a beta of 1.30. Prudential Financial, Inc. has a 52 week low of $87.95 and a 52 week high of $128.52. The business’s fifty day simple moving average is $117.83 and its 200-day simple moving average is $116.39. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65.

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

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors 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 yield of 4.28%. Prudential Financial’s dividend payout ratio (DPR) is currently 88.44%.

Insider Activity at Prudential Financial

In related news, EVP Caroline Feeney sold 1,110 shares of the business’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 sale, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the transaction, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of Prudential Financial 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 transaction, the executive vice president now directly 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 insiders.

Prudential Financial Company 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.