First National Bank of Omaha Buys Shares of 93,739 Prudential Financial, Inc. $PRU

Key Points

• First National Bank of Omaha acquired 93,739 Prudential Financial shares worth approximately $10.2 million during the second quarter. Institutional investors collectively own 56.83% of PRU.
• Prudential reported quarterly EPS of $4.08, exceeding the $3.52 consensus estimate, while revenue of $14.15 billion fell slightly short of expectations.
• The company announced a quarterly dividend of $1.40 per share, or $5.60 annualized, representing a 4.5% yield. Analysts remain cautious, with a consensus “Reduce” rating and a $107.77 price target versus the reported share price of $124.55.

First National Bank of Omaha purchased a new position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 93,739 shares of the financial services provider's stock, valued at approximately $10,231,000.

Other institutional investors have also recently made changes to their positions in the company. Jessup Wealth Management Inc purchased a new position in Prudential Financial in the 4th quarter valued at approximately $25,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Prudential Financial during the fourth quarter worth $26,000. Salomon & Ludwin LLC raised its stake in shares of Prudential Financial by 98.3% in the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 114 shares in the last quarter. SJS Investment Consulting Inc. boosted its holdings in Prudential Financial by 93.1% in the first quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 134 shares during the period. Finally, Coston McIsaac & Partners grew its stake in Prudential Financial by 93.4% during the 4th quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider's stock worth $29,000 after purchasing an additional 128 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company's stock.

Prudential Financial Stock Performance

Shares of PRU opened at $124.55 on Wednesday. The company's 50 day simple moving average is $115.78 and its 200-day simple moving average is $105.44. The firm has a market cap of $42.97 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 2.38 and a beta of 0.84. Prudential Financial, Inc. has a 12-month low of $91.89 and a 12-month high of $127.72. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.62.

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, beating the consensus estimate of $3.52 by $0.56. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. The firm had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.36 billion. During the same quarter in the prior year, the firm earned $3.58 EPS. As a group, equities analysts predict that Prudential Financial, Inc. will post 14.17 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th will be paid a dividend of $1.40 per share. The ex-dividend date is Tuesday, August 25th. This represents a $5.60 annualized dividend and a dividend yield of 4.5%. Prudential Financial's dividend payout ratio is 50.72%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Jefferies Financial Group increased their price target on Prudential Financial from $105.00 to $110.00 and gave the company a "hold" rating in a research report on Friday, July 10th. BMO Capital Markets cut their target price on shares of Prudential Financial from $91.00 to $87.00 and set an "underperform" rating on the stock in a research note on Thursday, April 23rd. Weiss Ratings raised shares of Prudential Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, July 16th. JPMorgan Chase & Co. boosted their price target on shares of Prudential Financial from $129.00 to $131.00 and gave the stock a "neutral" rating in a report on Monday. Finally, Argus downgraded shares of Prudential Financial from a "buy" rating to a "hold" rating in a research report on Tuesday, June 9th. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus price target of $107.77.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $24.75, for a total transaction of $5,314,963.50. Following the completion of the sale, the insider directly owned 7,973,657 shares of the company's stock, valued at approximately $197,348,010.75. This trade represents a 2.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ann M. Kappler sold 7,652 shares of the business's stock in a transaction that occurred 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 directly owned 14,407 shares in the company, valued at approximately $1,801,019.07. The trade was a 34.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.05% of the company's stock.

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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