Skandinaviska Enskilda Banken AB publ Decreases Stock Holdings in Prudential Financial, Inc. $PRU

Skandinaviska Enskilda Banken AB publ lessened its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 11.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 69,005 shares of the financial services provider’s stock after selling 9,128 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Prudential Financial were worth $7,159,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PRU. Chilton Capital Management LLC boosted its holdings in Prudential Financial by 146.5% in the third quarter. Chilton Capital Management LLC now owns 350 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 208 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in shares of Prudential Financial in the 2nd quarter worth $36,000. AlphaCore Capital LLC bought a new stake in shares of Prudential Financial in the second quarter worth $39,000. Capital A Wealth Management LLC increased its position in Prudential Financial by 4,600.0% during the second quarter. Capital A Wealth Management LLC now owns 376 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 368 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new position in Prudential Financial in the second quarter valued at about $51,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Trading Down 1.5%

Prudential Financial stock opened at $102.74 on Friday. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $119.76. The firm’s 50 day moving average price is $111.08 and its 200-day moving average price is $107.41. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. The stock has a market cap of $35.75 billion, a P/E ratio of 10.27, a PEG ratio of 1.19 and a beta of 0.97.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share for the quarter, missing the consensus estimate of $3.37 by ($0.07). The company had revenue of $15.69 billion for the quarter, compared to analysts’ expectations of $14.48 billion. Prudential Financial had a net margin of 6.20% and a return on equity of 16.32%. During the same period in the previous year, the business posted $2.96 earnings per share. On average, equities analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Tuesday, February 17th will be given a $1.40 dividend. This is an increase from Prudential Financial’s previous quarterly dividend of $1.35. This represents a $5.60 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date is Tuesday, February 17th. Prudential Financial’s dividend payout ratio (DPR) is presently 56.00%.

Wall Street Analyst Weigh In

PRU has been the subject of a number of recent research reports. UBS Group boosted their price objective on shares of Prudential Financial from $111.00 to $116.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. Wall Street Zen downgraded Prudential Financial from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Weiss Ratings raised shares of Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Wells Fargo & Company raised their price objective on shares of Prudential Financial from $113.00 to $115.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 13th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, Prudential Financial currently has a consensus rating of “Hold” and a consensus price target of $117.11.

Insider Activity at Prudential Financial

In other Prudential Financial news, Director Joseph J. Wolk bought 400 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was purchased at an average cost of $105.32 per share, with a total value of $42,128.00. Following the completion of the acquisition, the director owned 400 shares in the company, valued at $42,128. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Caroline Feeney sold 6,555 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $116.28, for a total transaction of $762,215.40. Following the sale, the executive vice president directly owned 22,523 shares in the company, valued at approximately $2,618,974.44. The trade was a 22.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders purchased 1,408,389 shares of company stock valued at $35,154,439 in the last 90 days. 0.25% of the stock is currently owned by insiders.

Prudential Financial Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.