Banque Transatlantique SA Takes Position in Prudential Financial, Inc. $PRU

Key Points

• Banque Transatlantique SA acquired a new stake in Prudential Financial, purchasing 3,000 shares valued at approximately $310,000.
• Prudential Financial reported earnings of $3.58 EPS, exceeding analyst estimates, with a quarterly revenue of $13.50 billion, down 2.5% year-over-year.
• The company declared a quarterly dividend of $1.35 per share with a yield of 5.0%, though its payout ratio stands at 119.73%.

Banque Transatlantique SA bought a new stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,000 shares of the financial services provider's stock, valued at approximately $310,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PRU. Brighton Jones LLC grew its position in shares of Prudential Financial by 3.7% in the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider's stock valued at $436,000 after purchasing an additional 133 shares during the last quarter. AXA S.A. grew its position in Prudential Financial by 32.2% during the fourth quarter. AXA S.A. now owns 61,612 shares of the financial services provider's stock worth $7,303,000 after buying an additional 15,006 shares in the last quarter. Aptus Capital Advisors LLC grew its position in Prudential Financial by 26.1% during the fourth quarter. Aptus Capital Advisors LLC now owns 6,970 shares of the financial services provider's stock worth $826,000 after buying an additional 1,443 shares in the last quarter. Ameriprise Financial Inc. grew its position in Prudential Financial by 6.1% during the fourth quarter. Ameriprise Financial Inc. now owns 1,706,530 shares of the financial services provider's stock worth $202,279,000 after buying an additional 97,406 shares in the last quarter. Finally, Benjamin Edwards Inc. grew its position in Prudential Financial by 4.0% during the fourth quarter. Benjamin Edwards Inc. now owns 27,872 shares of the financial services provider's stock worth $3,305,000 after buying an additional 1,078 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.

Prudential Financial Stock Performance

Shares of NYSE PRU traded up $0.17 during midday trading on Monday, reaching $105.88. The company's stock had a trading volume of 1,414,076 shares, compared to its average volume of 1,760,763. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55. The firm has a 50 day moving average price of $105.88 and a 200-day moving average price of $105.61. The stock has a market capitalization of $37.27 billion, a P/E ratio of 23.48, a PEG ratio of 0.94 and a beta of 1.07. 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 (NYSE:PRU - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $3.58 EPS for the quarter, topping analysts' consensus estimates of $3.22 by $0.36. The company had revenue of $13.50 billion for the quarter, compared to analysts' expectations of $13.47 billion. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. Prudential Financial's revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.39 EPS. As a group, equities analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Tuesday, August 19th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend is Tuesday, August 19th. Prudential Financial's payout ratio is 119.73%.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 1,675,978 shares of the stock in a transaction on Monday, June 16th. The shares were acquired at an average price of $28.64 per share, with a total value of $48,000,009.92. Following the acquisition, the insider directly owned 3,168,461 shares of the company's stock, valued at $90,744,723.04. The trade was a 112.29% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ann M. Kappler sold 4,000 shares of the business's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $109.65, for a total transaction of $438,600.00. Following the sale, the executive vice president directly owned 21,506 shares in the company, valued at $2,358,132.90. The trade was a 15.68% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PRU. Barclays increased their price target on Prudential Financial from $119.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Wells Fargo & Company reduced their price target on Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 16th. Wall Street Zen upgraded Prudential Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. UBS Group cut their target price on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a research note on Tuesday, May 27th. Finally, JPMorgan Chase & Co. raised their price objective on Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. One research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $122.08.

Prudential Financial Company 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.