AMF Tjanstepension AB Has $24.64 Million Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

AMF Tjanstepension AB grew its position in Prudential Financial, Inc. (NYSE:PRU) by 12.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 203,197 shares of the financial services provider’s stock after purchasing an additional 22,588 shares during the period. AMF Tjanstepension AB’s holdings in Prudential Financial were worth $24,642,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cullinan Associates Inc. boosted its stake in shares of Prudential Financial by 2,355.0% in the 1st quarter. Cullinan Associates Inc. now owns 151,598 shares of the financial services provider’s stock valued at $17,798,000 after purchasing an additional 145,423 shares in the last quarter. National Bank of Canada FI lifted its position in Prudential Financial by 44.9% during the 1st quarter. National Bank of Canada FI now owns 230,044 shares of the financial services provider’s stock worth $27,327,000 after buying an additional 71,274 shares in the last quarter. Greenwood Capital Associates LLC acquired a new position in Prudential Financial during the 4th quarter worth about $1,087,000. Nomura Holdings Inc. acquired a new position in Prudential Financial during the 4th quarter worth about $761,000. Finally, Brookstone Capital Management lifted its position in Prudential Financial by 1,635.0% during the 1st quarter. Brookstone Capital Management now owns 87,201 shares of the financial services provider’s stock worth $10,237,000 after buying an additional 82,175 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insiders Place Their Bets

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

Prudential Financial Stock Performance

Shares of PRU stock opened at $118.97 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. The stock has a market cap of $42.47 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 0.96 and a beta of 1.30. The stock has a 50-day moving average of $117.03 and a 200-day moving average of $116.83. Prudential Financial, Inc. has a one year low of $87.95 and a one year high of $128.52.

Prudential Financial (NYSE:PRU) last announced its earnings results on Thursday, August 1st. The financial services provider reported $3.39 EPS 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 analyst estimates of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. As a group, sell-side analysts expect that Prudential Financial, Inc. will post 13.3 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 annualized dividend and a yield of 4.37%. Prudential Financial’s dividend payout ratio (DPR) is currently 88.44%.

Analysts Set New Price Targets

Several research analysts recently issued reports on PRU shares. UBS Group upped their price target on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Barclays initiated coverage on shares of Prudential Financial in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $118.00 price target on the stock. Citigroup boosted their price objective on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $121.00 price objective on shares of Prudential Financial in a report on Wednesday, August 21st. Finally, Jefferies Financial Group dropped their price objective on Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a report on Friday, June 28th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Prudential Financial has an average rating of “Hold” and an average target price of $121.33.

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.