Nordea Investment Management AB Has $123.80 Million Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Nordea Investment Management AB lifted its holdings in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 176.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,041,420 shares of the financial services provider's stock after purchasing an additional 665,180 shares during the period. Nordea Investment Management AB owned 0.29% of Prudential Financial worth $123,804,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Avidian Wealth Enterprises LLC boosted its position in shares of Prudential Financial by 1.2% in the third quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider's stock valued at $891,000 after acquiring an additional 89 shares during the period. Daymark Wealth Partners LLC boosted its holdings in Prudential Financial by 3.9% in the 3rd quarter. Daymark Wealth Partners LLC now owns 2,616 shares of the financial services provider's stock valued at $317,000 after purchasing an additional 97 shares during the period. UMB Bank n.a. lifted its stake in shares of Prudential Financial by 2.7% in the third quarter. UMB Bank n.a. now owns 3,660 shares of the financial services provider's stock valued at $443,000 after buying an additional 97 shares during the period. Pure Financial Advisors LLC grew its position in Prudential Financial by 2.7% during the third quarter. Pure Financial Advisors LLC now owns 3,748 shares of the financial services provider's stock worth $454,000 after buying an additional 97 shares in the last quarter. Finally, Hardy Reed LLC raised its holdings in Prudential Financial by 1.6% in the 3rd quarter. Hardy Reed LLC now owns 6,202 shares of the financial services provider's stock valued at $751,000 after acquiring an additional 98 shares in the last quarter. Institutional investors own 56.83% of the company's stock.

Insider Activity

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the firm's stock in a transaction on Monday, November 25th. The stock was purchased at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the purchase, the insider now owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. The trade was a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.31% of the stock is currently owned by company insiders.

Prudential Financial Trading Up 0.4 %

Prudential Financial stock traded up $0.43 during mid-day trading on Tuesday, hitting $119.07. The stock had a trading volume of 1,584,116 shares, compared to its average volume of 1,147,779. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 12 month low of $100.60 and a 12 month high of $130.55. The stock has a market capitalization of $42.39 billion, a PE ratio of 10.58, a P/E/G ratio of 0.87 and a beta of 1.31. The stock has a 50-day simple moving average of $122.90 and a two-hundred day simple moving average of $120.70.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.01. The business had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. During the same period in the prior year, the business posted $3.44 earnings per share. As a group, sell-side analysts forecast that Prudential Financial, Inc. will post 13.35 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 4.37%. Prudential Financial's payout ratio is currently 46.22%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Piper Sandler upped their target price on Prudential Financial from $121.00 to $127.00 and gave the company a "neutral" rating in a research note on Wednesday, October 2nd. Evercore ISI upgraded shares of Prudential Financial from an "underperform" rating to an "inline" rating and raised their price target for the stock from $117.00 to $140.00 in a research note on Thursday, November 14th. TD Cowen upped their price objective on Prudential Financial from $130.00 to $133.00 and gave the company a "hold" rating in a research note on Wednesday, November 27th. Jefferies Financial Group boosted their price target on Prudential Financial from $149.00 to $152.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Finally, Barclays increased their price objective on Prudential Financial from $119.00 to $129.00 and gave the stock an "equal weight" rating in a research note on Monday. Eleven research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $127.17.

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.