KBC Group NV Buys 76,461 Shares of Prudential Financial, Inc. $PRU

Key Points

• KBC Group NV raised its stake in Prudential by 94.3% in Q4, buying 76,461 shares to hold 157,538 shares valued at about $17.78 million.
• Prudential recently raised its quarterly dividend to $1.40 (annualized $5.60), implying a yield of roughly 5.5%.
• Prudential missed quarterly EPS expectations ($3.30 vs. $3.37) and several analysts have cut price targets, leaving the consensus rating around "Reduce" with a $108 target.

KBC Group NV raised its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 94.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,538 shares of the financial services provider's stock after buying an additional 76,461 shares during the period. KBC Group NV's holdings in Prudential Financial were worth $17,783,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PRU. Arrowstreet Capital Limited Partnership raised its holdings in Prudential Financial by 183.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 804,316 shares of the financial services provider's stock valued at $83,440,000 after buying an additional 520,425 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Prudential Financial by 209.2% during the second quarter. Canada Pension Plan Investment Board now owns 520,025 shares of the financial services provider's stock valued at $55,871,000 after buying an additional 351,849 shares in the last quarter. Algebris UK Ltd. bought a new position in Prudential Financial during the third quarter valued at about $36,298,000. Woodline Partners LP bought a new position in Prudential Financial during the third quarter valued at about $32,894,000. Finally, Nordea Investment Management AB increased its stake in shares of Prudential Financial by 16.6% in the fourth quarter. Nordea Investment Management AB now owns 2,044,374 shares of the financial services provider's stock worth $231,321,000 after purchasing an additional 291,422 shares during the period. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Trading Up 2.0%

Shares of PRU opened at $101.75 on Friday. Prudential Financial, Inc. has a 12-month low of $91.89 and a 12-month high of $119.76. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $35.39 billion, a price-to-earnings ratio of 10.17, a P/E/G ratio of 1.28 and a beta of 0.95. The stock's 50-day moving average price is $98.26 and its 200 day moving average price is $104.94.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.37 by ($0.07). Prudential Financial had a net margin of 6.20% and a return on equity of 16.32%. The firm had revenue of $14.52 billion for the quarter, compared to the consensus estimate of $14.48 billion. During the same quarter in the prior year, the firm earned $2.96 earnings per share. As a group, research analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Tuesday, February 17th were paid a dividend of $1.40 per share. This is a positive change from Prudential Financial's previous quarterly dividend of $1.35. This represents a $5.60 annualized dividend and a yield of 5.5%. The ex-dividend date was Tuesday, February 17th. Prudential Financial's dividend payout ratio is presently 56.00%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PRU shares. Wall Street Zen lowered Prudential Financial from a "buy" rating to a "hold" rating in a research note on Saturday, January 10th. UBS Group dropped their price objective on Prudential Financial from $105.00 to $98.00 and set a "neutral" rating on the stock in a research note on Thursday, April 9th. Mizuho dropped their price objective on Prudential Financial from $113.00 to $101.00 and set a "neutral" rating on the stock in a research note on Monday, April 13th. Keefe, Bruyette & Woods dropped their price objective on Prudential Financial from $106.00 to $104.00 and set a "market perform" rating on the stock in a research note on Friday, April 10th. Finally, JPMorgan Chase & Co. dropped their price objective on Prudential Financial from $133.00 to $127.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 4th. Ten investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Prudential Financial currently has an average rating of "Reduce" and a consensus target price of $108.00.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential purchased 1,406,739 shares of the stock in a transaction that occurred on Friday, January 23rd. The shares were purchased at an average cost of $24.87 per share, for a total transaction of $34,985,598.93. Following the completion of the purchase, the insider directly owned 7,709,624 shares of the company's stock, valued at approximately $191,738,348.88. The trade was a 22.32% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jacques Chappuis purchased 1,000 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were purchased at an average price of $100.97 per share, for a total transaction of $100,970.00. Following the completion of the purchase, the executive vice president directly owned 1,000 shares of the company's stock, valued at approximately $100,970. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have bought 1,408,389 shares of company stock valued at $35,154,439. 0.05% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding PRU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prudential Financial, Inc. (NYSE:PRU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.