Commerzbank Aktiengesellschaft FI Has $2.81 Million Stake in Prudential Financial, Inc. $PRU

Key Points

• Commerzbank Aktiengesellschaft FI increased its stake in Prudential Financial by 21.9%, acquiring an additional 4,702 shares, bringing its total to 26,139 shares valued at approximately $2.81 million.
• Several analysts have updated their price targets on Prudential Financial, with a consensus rating of "Hold" and an average target price of $122.27.
• Prudential Financial reported an earnings per share (EPS) of $3.58 for the last quarter, beating estimates and marking a decrease in revenue of 2.5% year-over-year.

Commerzbank Aktiengesellschaft FI lifted its position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 21.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,139 shares of the financial services provider's stock after acquiring an additional 4,702 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in Prudential Financial were worth $2,809,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Prudential Financial by 3.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 20,771 shares of the financial services provider's stock valued at $2,320,000 after acquiring an additional 721 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Prudential Financial by 3.0% during the 1st quarter. Acadian Asset Management LLC now owns 109,447 shares of the financial services provider's stock worth $12,217,000 after buying an additional 3,183 shares during the period. Golden State Wealth Management LLC lifted its holdings in Prudential Financial by 728.4% during the 1st quarter. Golden State Wealth Management LLC now owns 845 shares of the financial services provider's stock worth $94,000 after buying an additional 743 shares during the period. HighTower Advisors LLC lifted its holdings in Prudential Financial by 68.2% during the 1st quarter. HighTower Advisors LLC now owns 110,794 shares of the financial services provider's stock worth $12,373,000 after buying an additional 44,937 shares during the period. Finally, Exchange Traded Concepts LLC lifted its holdings in Prudential Financial by 9.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,501 shares of the financial services provider's stock worth $279,000 after buying an additional 222 shares during the period. Institutional investors and hedge funds own 56.83% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on PRU. Piper Sandler cut their target price on Prudential Financial from $109.00 to $108.00 and set a "neutral" rating on the stock in a report on Wednesday, July 16th. JPMorgan Chase & Co. lifted their target price on Prudential Financial from $126.00 to $136.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Wolfe Research started coverage on Prudential Financial in a report on Tuesday, September 16th. They set a "peer perform" rating on the stock. Wells Fargo & Company dropped their price objective on Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 16th. Finally, Wall Street Zen raised Prudential Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Prudential Financial currently has a consensus rating of "Hold" and an average price target of $122.27.

Prudential Financial Stock Performance

Shares of Prudential Financial stock opened at $102.55 on Friday. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. The firm has a market capitalization of $36.10 billion, a price-to-earnings ratio of 22.74, a PEG ratio of 0.91 and a beta of 1.04. The business has a 50-day simple moving average of $105.18 and a 200 day simple moving average of $104.65. 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 issued its earnings results on Wednesday, July 30th. The financial services provider reported $3.58 EPS for the quarter, beating analysts' consensus estimates of $3.22 by $0.36. The business had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.47 billion. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%.The firm's revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $3.39 EPS. On average, research analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend was Tuesday, August 19th. Prudential Financial's payout ratio is currently 119.73%.

Insider Buying and Selling

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the business's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the sale, the executive vice president directly owned 21,506 shares of the company's stock, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company's stock.

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.

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