Swedbank AB Purchases 12,468 Shares of Prudential Financial, Inc. (NYSE:PRU)

Swedbank AB grew its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 4.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 311,700 shares of the financial services provider's stock after buying an additional 12,468 shares during the quarter. Swedbank AB owned 0.09% of Prudential Financial worth $37,747,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Creekmur Asset Management LLC grew its position 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 worth $29,000 after acquiring an additional 108 shares in the last quarter. Lynx Investment Advisory bought a new stake in Prudential Financial during the second quarter valued at $29,000. Ashton Thomas Securities LLC bought a new position in shares of Prudential Financial in the 3rd quarter worth about $31,000. Strategic Financial Concepts LLC boosted its holdings in shares of Prudential Financial by 1,312.4% in the 2nd 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 period. Finally, Bank & Trust Co bought a new position in Prudential Financial in the second quarter worth about $37,000. Institutional investors and hedge funds own 56.83% of the company's stock.

Prudential Financial Trading Up 0.3 %

NYSE PRU traded up $0.40 on Tuesday, hitting $129.11. 1,129,409 shares of the company were exchanged, compared to its average volume of 1,501,329. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. Prudential Financial, Inc. has a twelve month low of $94.92 and a twelve month high of $129.69. The firm has a market capitalization of $45.96 billion, a P/E ratio of 11.44, a price-to-earnings-growth ratio of 0.91 and a beta of 1.29. The company's 50 day moving average price is $123.52 and its 200-day moving average price is $119.82.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The company had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. During the same period in the previous year, the business earned $3.44 EPS. Analysts predict that Prudential Financial, Inc. will post 13.33 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.03%. Prudential Financial's dividend payout ratio is 46.22%.

Insider Buying and Selling

In other Prudential Financial news, 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 price of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the transaction, the insider now owns 4,208,549 shares in the company, valued at $116,071,781.42. The trade was a 6.61 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the business's 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 $1,220,694.75. This represents a 9.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PRU. Argus upgraded Prudential Financial to a "strong-buy" rating in a research report on Thursday, August 8th. UBS Group lifted their price objective on shares of Prudential Financial from $112.00 to $119.00 and gave the company a "neutral" rating in a research report on Tuesday, August 13th. Evercore ISI upgraded shares of Prudential Financial from an "underperform" rating to an "inline" rating and raised their price target for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. Wells Fargo & Company boosted their price objective on Prudential Financial from $116.00 to $117.00 and gave the stock an "equal weight" rating in a research report on Tuesday, November 5th. Finally, Bank of America increased their price target on Prudential Financial from $109.00 to $118.00 and gave the stock a "neutral" rating in a research note on Thursday, October 10th. Eleven equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $125.69.

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.