ASR Vermogensbeheer N.V. Acquires Shares of 71,054 Prudential Financial, Inc. (NYSE:PRU)

Key Points

• ASR Vermogensbeheer N.V. acquired 71,054 shares of Prudential Financial, Inc., valued at approximately $7,935,000, indicating growing institutional interest in the company.
• Prudential Financial reported a quarterly EPS of $3.58, exceeding the consensus estimate by $0.36, despite a year-over-year revenue decline of 2.5%.
• The company announced a quarterly dividend of $1.35 per share, reflecting a **dividend yield** of 5.2%, with a payout ratio of **119.73%**.

ASR Vermogensbeheer N.V. acquired a new stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 71,054 shares of the financial services provider's stock, valued at approximately $7,935,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northern Trust Corp increased its stake in Prudential Financial by 23.7% in the 4th quarter. Northern Trust Corp now owns 4,686,690 shares of the financial services provider's stock valued at $555,513,000 after buying an additional 897,916 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Prudential Financial by 19.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider's stock worth $469,777,000 after purchasing an additional 678,028 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Prudential Financial by 11.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,410,363 shares of the financial services provider's stock worth $404,230,000 after purchasing an additional 352,335 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Prudential Financial by 6.1% during the 4th quarter. Ameriprise Financial Inc. now owns 1,706,530 shares of the financial services provider's stock worth $202,279,000 after purchasing an additional 97,406 shares during the last quarter. Finally, Mariner LLC increased its stake in shares of Prudential Financial by 3.7% during the 4th quarter. Mariner LLC now owns 1,476,899 shares of the financial services provider's stock worth $175,051,000 after purchasing an additional 52,010 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company's stock.

Prudential Financial Stock Up 0.9%

Shares of NYSE:PRU opened at $104.13 on Thursday. The firm has a fifty day moving average price of $104.89 and a two-hundred day moving average price of $107.07. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. The company has a market cap of $36.65 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 0.95 and a beta of 1.07.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $3.58 EPS for the quarter, beating the consensus estimate of $3.22 by $0.36. The firm had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.47 billion. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The business's quarterly revenue was down 2.5% compared to the same quarter last year. During the same period last year, the firm earned $3.39 EPS. Analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th will be given a dividend of $1.35 per share. The ex-dividend date is Tuesday, August 19th. This represents a $5.40 annualized dividend and a dividend yield of 5.2%. Prudential Financial's dividend payout ratio (DPR) is 119.73%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PRU. Wells Fargo & Company decreased their price target on shares of Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods decreased their price target on shares of Prudential Financial from $120.00 to $117.00 and set a "market perform" rating for the company in a research note on Wednesday, May 7th. Barclays raised their price objective on shares of Prudential Financial from $119.00 to $120.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. UBS Group cut their price objective on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a report on Tuesday, May 27th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Prudential Financial from $126.00 to $136.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $121.75.

Insider Buying and Selling at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of the stock in a transaction dated Monday, June 16th. The shares were purchased at an average price of $28.64 per share, for a total transaction of $48,000,009.92. Following the transaction, the insider owned 3,168,461 shares in the company, valued at $90,744,723.04. This represents a 112.29% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.25% of the company's stock.

Prudential Financial 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.

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