Forsta AP Fonden Increases Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Forsta AP Fonden boosted its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 23.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 153,500 shares of the financial services provider's stock after buying an additional 29,200 shares during the period. Forsta AP Fonden's holdings in Prudential Financial were worth $18,589,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PRU. Creekmur Asset Management LLC increased its stake in Prudential Financial by 78.8% during the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider's stock worth $29,000 after acquiring an additional 108 shares during the last quarter. Lynx Investment Advisory purchased a new stake in Prudential Financial in the 2nd quarter valued at about $29,000. Strategic Financial Concepts LLC lifted its position in Prudential Financial by 1,312.4% in the second quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider's stock valued at $32,000 after buying an additional 25,027 shares during the last quarter. Crewe Advisors LLC purchased a new position in Prudential Financial during the first quarter worth about $33,000. Finally, ESL Trust Services LLC acquired a new stake in shares of Prudential Financial during the first quarter valued at about $34,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the business's stock in a transaction on Tuesday, October 8th. The shares were bought at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the transaction, the insider now directly owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 directly owns 10,175 shares of the company's stock, valued at approximately $1,220,694.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the company's stock in a transaction dated Tuesday, October 8th. The stock was bought at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the acquisition, the insider now owns 4,208,549 shares of the company's stock, valued at approximately $116,071,781.42. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.31% of the company's stock.

Prudential Financial Stock Down 1.5 %

PRU stock traded down $1.90 during trading on Friday, hitting $123.46. 1,247,175 shares of the company's stock were exchanged, compared to its average volume of 1,476,441. The stock has a market capitalization of $44.32 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 0.96 and a beta of 1.30. Prudential Financial, Inc. has a 52-week low of $87.95 and a 52-week high of $128.52. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. The business has a 50-day moving average price of $120.20 and a two-hundred day moving average price of $117.86.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its earnings results 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). Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. The company had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. As a group, equities research analysts expect that Prudential Financial, Inc. will post 13.3 EPS for the current year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date was Tuesday, August 20th. Prudential Financial's dividend payout ratio (DPR) is currently 88.44%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Argus upgraded shares of Prudential Financial to a "strong-buy" rating in a report on Thursday, August 8th. Bank of America lifted their price objective on Prudential Financial from $109.00 to $118.00 and gave the company a "neutral" rating in a research note on Thursday, October 10th. Citigroup increased their target price on Prudential Financial from $104.00 to $120.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 23rd. Morgan Stanley dropped their target price on Prudential Financial from $123.00 to $122.00 and set an "equal weight" rating for the company in a research report on Monday, August 19th. Finally, UBS Group increased 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. One equities 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, Prudential Financial presently has an average rating of "Hold" and a consensus price target 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.