Swedbank AB Has $37.75 Million Position in Prudential Financial, Inc. (NYSE:PRU)

Swedbank AB raised its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 4.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 311,700 shares of the financial services provider's stock after buying an additional 12,468 shares during the quarter. Swedbank AB owned about 0.09% of Prudential Financial worth $37,747,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. AQR Capital Management LLC raised its holdings in shares of Prudential Financial by 97.4% in the second quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider's stock valued at $84,874,000 after purchasing an additional 357,300 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Prudential Financial by 9.4% in the second quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider's stock valued at $415,134,000 after purchasing an additional 305,143 shares during the last quarter. OFI Invest Asset Management raised its holdings in shares of Prudential Financial by 10,529.7% in the second quarter. OFI Invest Asset Management now owns 155,513 shares of the financial services provider's stock valued at $17,004,000 after purchasing an additional 154,050 shares during the last quarter. Cullinan Associates Inc. raised its holdings in shares of Prudential Financial by 2,355.0% in the first 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 during the last quarter. Finally, Natixis raised its holdings in shares of Prudential Financial by 815.4% in the first quarter. Natixis now owns 129,959 shares of the financial services provider's stock valued at $15,257,000 after purchasing an additional 115,762 shares during the last quarter. Institutional investors own 56.83% of the company's stock.

Insider Activity

In related news, EVP Ann M. Kappler sold 2,839 shares of the company's stock in a transaction dated 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 owns 14,535 shares of the company's stock, valued at $1,648,705.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Ann M. Kappler sold 2,839 shares of the company's stock in a transaction dated 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 owns 14,535 shares of the company's stock, valued at $1,648,705.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the business's stock in a transaction that occurred on Tuesday, October 8th. The shares were purchased at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the transaction, the insider now directly owns 4,208,549 shares of the company's stock, valued at $116,071,781.42. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by company insiders.

Prudential Financial Stock Performance

PRU stock traded up $0.80 during midday trading on Thursday, reaching $127.83. 1,144,361 shares of the company were exchanged, compared to its average volume of 1,492,771. The business has a 50-day moving average price of $118.11 and a two-hundred day moving average price of $117.34. The firm has a market capitalization of $45.89 billion, a price-to-earnings ratio of 21.71, a price-to-earnings-growth ratio of 0.97 and a beta of 1.30. Prudential Financial, Inc. has a one year low of $87.95 and a one year high of $128.52. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.43 by ($0.04). The business 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%. Equities research analysts forecast that Prudential Financial, Inc. will post 13.28 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were given a $1.30 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.07%. Prudential Financial's payout ratio is presently 88.44%.

Analyst Ratings Changes

PRU has been the topic of a number of recent research reports. Piper Sandler lifted their price objective on shares of Prudential Financial from $121.00 to $127.00 and gave the company a "neutral" rating in a report on Wednesday, October 2nd. Argus upgraded shares of Prudential Financial to a "strong-buy" rating in a report on Thursday, August 8th. JPMorgan Chase & Co. boosted their target price on shares of Prudential Financial from $118.00 to $128.00 and gave the stock a "neutral" rating in a report on Tuesday, July 2nd. Jefferies Financial Group lowered their target price on shares of Prudential Financial from $143.00 to $141.00 and set a "buy" rating on the stock in a report on Friday, June 28th. Finally, Wells Fargo & Company boosted their target price on shares of Prudential Financial from $113.00 to $116.00 and gave the stock an "equal weight" rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Prudential Financial has an average rating of "Hold" and a consensus target price of $123.69.

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.