AMF Tjanstepension AB Has $1.67 Million Holdings in Prudential Financial, Inc. $PRU

AMF Tjanstepension AB cut its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 90.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,827 shares of the financial services provider’s stock after selling 145,760 shares during the period. AMF Tjanstepension AB’s holdings in Prudential Financial were worth $1,674,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in shares of Prudential Financial by 3.7% in the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock valued at $436,000 after acquiring an additional 133 shares during the period. Empowered Funds LLC increased its stake in Prudential Financial by 30.5% during the 1st quarter. Empowered Funds LLC now owns 17,690 shares of the financial services provider’s stock worth $1,976,000 after purchasing an additional 4,134 shares in the last quarter. Brown Advisory Inc. increased its stake in Prudential Financial by 3.5% during the 2nd quarter. Brown Advisory Inc. now owns 4,164 shares of the financial services provider’s stock worth $447,000 after purchasing an additional 140 shares in the last quarter. AXA S.A. increased its stake in Prudential Financial by 25.8% during the 2nd quarter. AXA S.A. now owns 56,700 shares of the financial services provider’s stock worth $6,092,000 after purchasing an additional 11,630 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in Prudential Financial by 15.1% during the 2nd quarter. NewEdge Advisors LLC now owns 37,277 shares of the financial services provider’s stock worth $4,005,000 after purchasing an additional 4,895 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PRU has been the subject of several research reports. Weiss Ratings cut shares of Prudential Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 13th. Piper Sandler raised their price target on shares of Prudential Financial from $99.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Jefferies Financial Group cut shares of Prudential Financial from a “buy” rating to a “hold” rating and decreased their price target for the stock from $124.00 to $98.00 in a research note on Wednesday, April 22nd. Evercore reissued a “negative” rating on shares of Prudential Financial in a research note on Friday, March 6th. Finally, Zacks Research cut shares of Prudential Financial from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. Nine analysts have rated the stock with a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $101.50.

Prudential Financial Stock Up 1.1%

PRU opened at $103.04 on Tuesday. Prudential Financial, Inc. has a fifty-two week low of $91.89 and a fifty-two week high of $119.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market capitalization of $35.76 billion, a P/E ratio of 10.60, a P/E/G ratio of 1.87 and a beta of 0.86. The stock has a fifty day moving average of $97.21 and a 200-day moving average of $104.58.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.52. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.The business had revenue of $15.23 billion during the quarter, compared to the consensus estimate of $14.10 billion. During the same quarter in the previous year, the firm earned $3.29 earnings per share. On average, equities analysts expect that Prudential Financial, Inc. will post 13.71 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Tuesday, May 26th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, May 26th. This represents a $5.60 annualized dividend and a yield of 5.4%. Prudential Financial’s dividend payout ratio is currently 57.61%.

About Prudential Financial

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.