National Pension Service Purchases 89,949 Shares of Prudential Financial, Inc. (NYSE:PRU)

National Pension Service increased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 18.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 587,189 shares of the financial services provider’s stock after buying an additional 89,949 shares during the quarter. National Pension Service’s holdings in Prudential Financial were worth $71,109,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. National Bank of Canada FI grew its position in shares of 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 valued at $27,327,000 after acquiring an additional 71,274 shares during the period. ORG Partners LLC bought a new position in shares of Prudential Financial in the second quarter worth about $156,000. Russell Investments Group Ltd. raised its stake in shares of Prudential Financial by 25.0% in the first quarter. Russell Investments Group Ltd. now owns 180,555 shares of the financial services provider’s stock worth $21,171,000 after buying an additional 36,159 shares during the period. PGGM Investments grew its stake in shares of Prudential Financial by 98.0% during the 2nd quarter. PGGM Investments now owns 64,277 shares of the financial services provider’s stock valued at $7,533,000 after acquiring an additional 31,807 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its holdings in Prudential Financial by 6.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 406,295 shares of the financial services provider’s stock worth $47,699,000 after acquiring an additional 25,196 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on PRU. 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. Morgan Stanley cut their price target on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Argus upgraded Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Barclays increased their target price on Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Finally, Citigroup upped their price target on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $123.85.

Insider Buying and Selling

In other news, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction 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 owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of Prudential Financial stock in a transaction dated Tuesday, October 8th. The shares were 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 in the company, valued at $116,071,781.42. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Prudential Financial Price Performance

PRU stock opened at $120.18 on Wednesday. Prudential Financial, Inc. has a 52 week low of $89.90 and a 52 week high of $128.52. The firm has a market capitalization of $42.78 billion, a P/E ratio of 10.68, a price-to-earnings-growth ratio of 0.86 and a beta of 1.29. The company has a fifty day simple moving average of $121.20 and a two-hundred day simple moving average of $118.55. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The firm had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. During the same quarter last year, the firm earned $3.44 EPS. Analysts anticipate that Prudential Financial, Inc. will post 13.32 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.33%. Prudential Financial’s payout ratio is presently 46.22%.

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.