Amundi Decreases Stock Holdings in Prudential Financial, Inc. $PRU

Amundi trimmed its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 2.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,560,947 shares of the financial services provider's stock after selling 45,288 shares during the period. Amundi owned 0.45% of Prudential Financial worth $168,472,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PRU. Orca Investment Management LLC acquired a new stake in Prudential Financial during the 2nd quarter worth $2,605,000. Handelsbanken Fonder AB grew its holdings in shares of Prudential Financial by 45.8% during 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 in the last quarter. Northeast Investment Management acquired a new stake in shares of Prudential Financial in the fourth quarter valued at about $2,621,000. AustralianSuper Pty Ltd lifted its stake in shares of Prudential Financial by 11.1% in the fourth quarter. AustralianSuper Pty Ltd now owns 897,597 shares of the financial services provider's stock worth $101,321,000 after buying an additional 89,915 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Prudential Financial by 379.8% during the second quarter. Assenagon Asset Management S.A. now owns 619,701 shares of the financial services provider's stock worth $66,884,000 after acquiring an additional 490,553 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PRU. Jefferies Financial Group upped their price objective on shares of Prudential Financial from $105.00 to $110.00 and gave the company a "hold" rating in a research note on Friday, July 10th. Mizuho raised their target price on Prudential Financial from $101.00 to $109.00 and gave the stock a "neutral" rating in a research note on Thursday, July 9th. TD Cowen lifted their price target on Prudential Financial from $102.00 to $114.00 and gave the stock a "hold" rating in a report on Wednesday, July 22nd. Wells Fargo & Company upped their price objective on shares of Prudential Financial from $103.00 to $110.00 and gave the company an "underweight" rating in a report on Wednesday, August 19th. Finally, Piper Sandler increased their price objective on Prudential Financial from $110.00 to $128.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and five have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Prudential Financial currently has an average rating of "Reduce" and an average price target of $109.31.

Insider Activity at Prudential Financial

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

Prudential Financial Stock Down 2.1%

Shares of NYSE PRU opened at $119.46 on Wednesday. The firm has a market cap of $41.21 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 1.84 and a beta of 0.83. 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, Inc. has a 52-week low of $91.89 and a 52-week high of $127.72. The business's 50 day moving average is $119.66 and its two-hundred day moving average is $107.08.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $4.08 EPS for the quarter, topping the consensus estimate of $3.52 by $0.56. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%.The business had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.36 billion. During the same period last year, the business posted $3.58 earnings per share. Research analysts predict that Prudential Financial, Inc. will post 14.51 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Tuesday, August 25th. Prudential Financial's dividend payout ratio (DPR) is currently 50.72%.

Prudential Financial Company 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.

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