4,201 Shares in Prudential Financial, Inc. $PRU Bought by NBH Bank

NBH Bank bought a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) in the 2nd quarter, HoldingsChannel reports. The fund bought 4,201 shares of the financial services provider’s stock, valued at approximately $453,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Oxbow Advisors LLC bought a new stake in shares of Prudential Financial in the 4th quarter worth approximately $6,545,000. Orca Investment Management LLC bought a new position in Prudential Financial during the 2nd quarter worth $2,605,000. Handelsbanken Fonder AB increased its position in Prudential Financial by 45.8% in the fourth quarter. Handelsbanken Fonder AB now owns 108,060 shares of the financial services provider’s stock worth $12,198,000 after buying an additional 33,932 shares during the period. Northeast Investment Management bought a new stake in Prudential Financial in the fourth quarter valued at $2,621,000. Finally, AustralianSuper Pty Ltd boosted its holdings in shares of Prudential Financial by 11.1% during the fourth quarter. AustralianSuper Pty Ltd now owns 897,597 shares of the financial services provider’s stock valued at $101,321,000 after acquiring an additional 89,915 shares during the period. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $122.06 on Friday. The stock has a market cap of $42.11 billion, a P/E ratio of 11.06, a P/E/G ratio of 1.84 and a beta of 0.83. The firm’s 50-day simple moving average is $119.17 and its 200 day simple moving average is $106.83. Prudential Financial, Inc. has a fifty-two week low of $91.89 and a fifty-two week high of $127.72. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.62.

Prudential Financial (NYSE:PRU) last announced its earnings results on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.52 by $0.56. The firm had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.36 billion. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. During the same quarter in the prior year, the firm posted $3.58 EPS. Equities analysts expect that Prudential Financial, Inc. will post 14.51 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th will be issued a $1.40 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $5.60 annualized dividend and a dividend yield of 4.6%. Prudential Financial’s dividend payout ratio (DPR) is 50.72%.

More Prudential Financial News

Here are the key news stories impacting Prudential Financial this week:

• Positive Sentiment: Prudential’s PGIM asset-management unit launched two core equity exchange-traded funds, expanding its investment-product lineup and potentially supporting fee-based revenue and distribution growth. Prudential Financial’s PGIM launches two core equity ETFs
• Positive Sentiment: Prudential recently reported second-quarter adjusted earnings of $4.08 per share, above the $3.52 analyst consensus and ahead of the $3.58 reported in the prior-year period. The earnings beat provides a supportive fundamental backdrop, although quarterly revenue was slightly below expectations. What Prudential Financial’s Targeted Long-Term Debt Issuance and Earnings Beat Means For Shareholders
• Positive Sentiment: Prudential Advisors added Cleveland-based advisor Zachary Karason, who brings more than 12 years of experience and over $106 million in client assets. The hire may modestly strengthen Prudential’s wealth-management distribution and asset-gathering capabilities. Prudential Advisors Welcomes Zachary Karason to Mid America Financial Group
• Neutral Sentiment: Prudential issued multiple senior unsecured fixed-rate notes with maturities from 2029 through 2036. The staggered maturities and mix of callable and non-callable debt could improve funding flexibility, but the offerings also add interest obligations. What Prudential Financial’s Targeted Long-Term Debt Issuance and Earnings Beat Means For Shareholders
• Negative Sentiment: A recent analysis noted that PRU has declined modestly since its latest earnings report, suggesting investors have not fully rewarded the earnings beat and may remain focused on forward estimates, interest rates and insurance-sector conditions. Prudential Down Since Last Earnings Report

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $24.75, for a total transaction of $5,314,963.50. Following the transaction, the insider owned 7,973,657 shares in the company, valued at $197,348,010.75. This trade represents a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ann Kappler sold 7,652 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $125.01, for a total value of $956,576.52. Following the completion of the sale, the executive vice president owned 14,407 shares of the company’s stock, valued at $1,801,019.07. This trade represents a 34.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.05% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating in a research report on Saturday, August 29th. Morgan Stanley boosted their target price on shares of Prudential Financial from $92.00 to $105.00 and gave the company an “underweight” rating in a research note on Monday, August 24th. Argus lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, June 9th. Weiss Ratings raised Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Finally, Barclays boosted their price objective on Prudential Financial from $90.00 to $92.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 7th. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Prudential Financial has an average rating of “Reduce” and a consensus target price of $109.31.

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.