Fjarde AP Fonden Fourth Swedish National Pension Fund Cuts Stock Position in Prudential Financial, Inc. $PRU

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in Prudential Financial by 10.1%, owning 31,882 shares valued at $3,561,000 after selling 3,600 shares.
• Several analysts have adjusted their price targets for Prudential Financial, with UBS lowering it from $122 to $110, while JPMorgan raised it from $126 to $136.
• Prudential Financial will distribute a quarterly dividend of $1.35 on September 11th, representing an annualized yield of 5.1% with a payout ratio of 119.73%.

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 10.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,882 shares of the financial services provider's stock after selling 3,600 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Prudential Financial were worth $3,561,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PRU. Brighton Jones LLC raised its stake in shares of Prudential Financial by 3.7% during the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider's stock worth $436,000 after buying an additional 133 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Prudential Financial by 5.7% in the 4th quarter. Canada Pension Plan Investment Board now owns 164,304 shares of the financial services provider's stock worth $19,475,000 after acquiring an additional 8,900 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in shares of Prudential Financial by 3.4% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 415,502 shares of the financial services provider's stock worth $49,240,000 after acquiring an additional 13,588 shares during the period. Forum Financial Management LP grew its holdings in shares of Prudential Financial by 3.2% in the 4th quarter. Forum Financial Management LP now owns 9,368 shares of the financial services provider's stock worth $1,110,000 after acquiring an additional 287 shares during the period. Finally, First Trust Advisors LP grew its holdings in shares of Prudential Financial by 20.8% in the 4th quarter. First Trust Advisors LP now owns 711,628 shares of the financial services provider's stock worth $84,349,000 after acquiring an additional 122,616 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Trading Up 0.8%

Shares of PRU stock traded up $0.8170 during trading hours on Wednesday, hitting $107.0670. 1,537,881 shares of the company were exchanged, compared to its average volume of 1,776,694. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60. The firm has a fifty day moving average of $104.98 and a 200 day moving average of $106.07. The firm has a market cap of $37.69 billion, a PE ratio of 23.74, a PEG ratio of 0.95 and a beta of 1.07.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $3.58 earnings per share 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 the consensus estimate 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 last year, the firm posted $3.39 earnings per share. Analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $5.40 dividend on an annualized basis and a yield of 5.0%. Prudential Financial's dividend payout ratio (DPR) is currently 119.73%.

Analyst Ratings Changes

A number of research firms recently weighed in on PRU. Wall Street Zen upgraded Prudential Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. UBS Group lowered their price target on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating on the stock in a report on Tuesday, May 27th. JPMorgan Chase & Co. upped their price target on Prudential Financial from $126.00 to $136.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods lowered their price target on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating on the stock in a report on Wednesday, May 7th. Finally, Morgan Stanley increased their target price on Prudential Financial from $113.00 to $117.00 and gave the company an "equal weight" rating in a report on Monday. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $122.08.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential purchased 1,675,978 shares of the business's stock in a transaction on Monday, June 16th. The shares were bought at an average price of $28.64 per share, with a total value of $48,000,009.92. Following the completion of the purchase, the insider directly owned 3,168,461 shares in the company, valued at approximately $90,744,723.04. This trade represents a 112.29% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by corporate 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.