International Assets Investment Management LLC Boosts Stake in Prudential Financial, Inc. (NYSE:PRU)

International Assets Investment Management LLC grew its stake in Prudential Financial, Inc. (NYSE:PRU) by 4,130.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,298,257 shares of the financial services provider’s stock after purchasing an additional 1,267,571 shares during the quarter. International Assets Investment Management LLC’s holdings in Prudential Financial were worth $157,219,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Creekmur Asset Management LLC raised its stake in shares of Prudential Financial by 78.8% in the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 108 shares in the last quarter. Lynx Investment Advisory acquired a new stake in shares of Prudential Financial in the 2nd quarter valued at about $29,000. Crewe Advisors LLC acquired a new stake in shares of Prudential Financial in the 1st quarter valued at about $33,000. ESL Trust Services LLC acquired a new stake in shares of Prudential Financial in the 1st quarter valued at about $34,000. Finally, Bank & Trust Co acquired a new stake in shares of Prudential Financial in the 2nd quarter valued at about $37,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Trading Down 1.5 %

Prudential Financial stock opened at $123.46 on Friday. The firm has a 50 day simple moving average of $120.03 and a 200-day simple moving average of $117.74. 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 capitalization of $44.08 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 0.96 and a beta of 1.30. Prudential Financial, Inc. has a 12-month low of $87.95 and a 12-month high of $128.52.

Prudential Financial (NYSE:PRU) last posted 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 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, equities research analysts expect that Prudential Financial, Inc. will post 13.3 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial’s dividend payout ratio (DPR) is presently 66.84%.

Analysts Set New Price Targets

PRU has been the topic of several research reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $121.00 price objective on shares of Prudential Financial in a research note on Wednesday, August 21st. UBS Group increased their price objective on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Bank of America increased their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Morgan Stanley dropped their price objective on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Finally, Barclays began coverage on shares of Prudential Financial in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $118.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $123.69.

Insider Buying and Selling

In related 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 completion of the sale, the executive vice president now directly owns 14,535 shares in the company, valued at approximately $1,648,705.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of Prudential Financial stock in a transaction that occurred on Tuesday, October 8th. The stock was purchased at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the acquisition, the insider now owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ann M. Kappler sold 2,839 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total transaction of $322,027.77. Following the sale, the executive vice president now owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

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.