Handelsbanken Fonder AB Has $7.77 Million Holdings in Prudential Financial, Inc. (NYSE:PRU)

Handelsbanken Fonder AB lifted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 5.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 69,561 shares of the financial services provider's stock after buying an additional 3,811 shares during the period. Handelsbanken Fonder AB's holdings in Prudential Financial were worth $7,769,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Accurate Wealth Management LLC grew its position in shares of Prudential Financial by 15.8% during the 1st quarter. Accurate Wealth Management LLC now owns 7,802 shares of the financial services provider's stock valued at $871,000 after buying an additional 1,064 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Prudential Financial by 1.9% during the 1st quarter. GAMMA Investing LLC now owns 7,771 shares of the financial services provider's stock valued at $868,000 after buying an additional 145 shares during the last quarter. International Private Wealth Advisors LLC boosted its stake in Prudential Financial by 6.8% during the 1st quarter. International Private Wealth Advisors LLC now owns 3,218 shares of the financial services provider's stock valued at $359,000 after purchasing an additional 205 shares during the period. Tounjian Advisory Partners LLC acquired a new position in Prudential Financial during the 1st quarter valued at about $1,492,000. Finally, Farther Finance Advisors LLC boosted its stake in Prudential Financial by 17.1% during the 1st quarter. Farther Finance Advisors LLC now owns 12,141 shares of the financial services provider's stock valued at $1,356,000 after purchasing an additional 1,769 shares during the period. Institutional investors own 56.83% of the company's stock.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was acquired at an average cost of $28.52 per share, with a total value of $1,500,009.40. Following the completion of the purchase, the insider now directly owns 139,987 shares in the company, valued at approximately $3,992,429.24. This trade represents a 60.18% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.25% of the company's stock.

Prudential Financial Price Performance

Shares of NYSE:PRU traded down $2.02 during trading on Friday, reaching $102.88. The company had a trading volume of 1,358,187 shares, compared to its average volume of 1,646,374. The firm's fifty day moving average is $103.03 and its 200 day moving average is $111.04. The firm has a market capitalization of $36.42 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $130.55. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16.

Prudential Financial (NYSE:PRU - Get Free Report) last released its earnings results on Wednesday, April 30th. The financial services provider reported $3.29 EPS for the quarter, beating the consensus estimate of $3.18 by $0.11. Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. The business had revenue of $13.61 billion during the quarter, compared to analyst estimates of $14.76 billion. During the same period in the prior year, the business earned $3.12 earnings per share. The business's quarterly revenue was down 38.2% on a year-over-year basis. On average, equities analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, May 20th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 5.25%. The ex-dividend date was Tuesday, May 20th. Prudential Financial's dividend payout ratio is presently 85.58%.

Analysts Set New Price Targets

A number of research analysts have issued reports on PRU shares. Barclays reduced their target price on shares of Prudential Financial from $134.00 to $106.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. Morgan Stanley boosted their target price on shares of Prudential Financial from $108.00 to $117.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. JPMorgan Chase & Co. reduced their target price on shares of Prudential Financial from $128.00 to $126.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Piper Sandler reduced their target price on shares of Prudential Financial from $110.00 to $109.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Finally, Wall Street Zen lowered shares of Prudential Financial from a "hold" rating to a "sell" rating in a research note on Sunday, June 8th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Prudential Financial currently has a consensus rating of "Hold" and a consensus price target of $120.15.

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.