BI Asset Management Fondsmaeglerselskab A S Has $1.54 Million Stock Holdings in Prudential Financial, Inc. $PRU

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its stake in Prudential Financial by 49.4%, holding 13,788 shares valued at $1.54 million after selling 13,472 shares in the first quarter.
• Prudential Financial reported quarterly earnings of $3.58 per share, exceeding estimates, and a revenue of $13.50 billion, although it represented a 2.5% decline from the previous year.
• The company announced a quarterly dividend of $1.35 per share, with a **5.0% dividend yield**, but has a relatively high payout ratio of 119.73%.

BI Asset Management Fondsmaeglerselskab A S decreased its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 49.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,788 shares of the financial services provider's stock after selling 13,472 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Prudential Financial were worth $1,540,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PRU. Brighton Jones LLC increased its stake in Prudential Financial by 3.7% during the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider's stock valued at $436,000 after buying an additional 133 shares during the period. TD Waterhouse Canada Inc. increased its stake in Prudential Financial by 7.1% during the 4th quarter. TD Waterhouse Canada Inc. now owns 14,991 shares of the financial services provider's stock valued at $1,777,000 after buying an additional 996 shares during the period. Dark Forest Capital Management LP boosted its position in shares of Prudential Financial by 51.7% during the 4th quarter. Dark Forest Capital Management LP now owns 3,625 shares of the financial services provider's stock valued at $430,000 after purchasing an additional 1,235 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Prudential Financial by 1.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 514,702 shares of the financial services provider's stock valued at $61,009,000 after purchasing an additional 6,669 shares in the last quarter. Finally, Syon Capital LLC boosted its position in shares of Prudential Financial by 15.1% during the 4th quarter. Syon Capital LLC now owns 4,163 shares of the financial services provider's stock valued at $493,000 after purchasing an additional 545 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.

Prudential Financial Stock Up 0.1%

Shares of PRU stock traded up $0.07 during trading on Tuesday, hitting $109.18. 478,139 shares of the company were exchanged, compared to its average volume of 1,762,149. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market capitalization of $38.43 billion, a price-to-earnings ratio of 24.24, a P/E/G ratio of 0.98 and a beta of 1.07. The business's 50-day simple moving average is $105.30 and its 200 day simple moving average is $105.80. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55.

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 the consensus estimate of $3.22 by $0.36. The business had revenue of $13.50 billion during 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%. The firm's quarterly revenue was down 2.5% compared to the same quarter last year. During the same period last year, the company posted $3.39 earnings per share. As a group, analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th will be paid a $1.35 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $5.40 dividend on an annualized basis and a yield of 4.9%. Prudential Financial's payout ratio is 119.73%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PRU shares. Morgan Stanley raised their price objective on shares of Prudential Financial from $113.00 to $117.00 and gave the company an "equal weight" rating in a research report on Monday, August 18th. Keefe, Bruyette & Woods reduced their price objective on shares of Prudential Financial from $120.00 to $117.00 and set a "market perform" rating for the company in a research report on Wednesday, May 7th. Wells Fargo & Company reduced their price objective on shares of Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 16th. Wall Street Zen upgraded shares of Prudential Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, UBS Group decreased their target price 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. One equities 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 stock. Based on data from MarketBeat, Prudential Financial currently has a consensus rating of "Hold" and an average price target of $122.08.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 1,675,978 shares of Prudential Financial stock in a transaction on Monday, June 16th. The stock was purchased at an average cost of $28.64 per share, for a total transaction of $48,000,009.92. Following the completion of the purchase, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is owned by company insiders.

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.