National Pension Service Has $66.15 Million Stake in Prudential Financial, Inc. (NYSE:PRU)

Key Points

• The National Pension Service increased its stake in Prudential Financial by 4.8%, owning approximately 0.17% of the company, valued at $66.15 million.
• Insider transactions show significant buying activity, with the major shareholder, Insurance Co Of Ame Prudential, acquiring 1,675,978 shares recently, boosting their ownership by 112.29%.
• Prudential Financial reported a quarterly earnings per share of $3.58, exceeding estimates and showcasing a net margin of 2.75% despite a revenue decline compared to the previous year.

National Pension Service boosted its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 4.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 592,269 shares of the financial services provider's stock after purchasing an additional 26,915 shares during the period. National Pension Service owned about 0.17% of Prudential Financial worth $66,145,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Meeder Asset Management Inc. increased its holdings in Prudential Financial by 90.2% in the first quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 111 shares during the period. North Capital Inc. acquired a new stake in Prudential Financial during the 1st quarter worth about $28,000. Cheviot Value Management LLC acquired a new stake in Prudential Financial during the 1st quarter worth about $26,000. Clearstead Trust LLC grew its holdings in Prudential Financial by 350.8% during the 1st quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider's stock worth $30,000 after acquiring an additional 207 shares during the period. Finally, Opal Wealth Advisors LLC acquired a new stake in Prudential Financial during the 1st quarter worth about $30,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 1,675,978 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were acquired at an average price of $28.64 per share, with a total value of $48,000,009.92. Following the transaction, the insider owned 3,168,461 shares in the company, valued at $90,744,723.04. The trade was a 112.29% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.25% of the company's stock.

Prudential Financial Price Performance

Shares of NYSE PRU opened at $106.89 on Friday. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55. The stock has a market cap of $37.63 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 0.96 and a beta of 1.07. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. The firm's 50-day simple moving average is $104.95 and its 200 day simple moving average is $106.49.

Prudential Financial (NYSE:PRU - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $3.58 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.36. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The business had revenue of $13.50 billion for the quarter, compared to analysts' expectations of $13.47 billion. During the same quarter last year, the firm earned $3.39 EPS. The firm's revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, research analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Tuesday, August 19th will be given a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $5.40 annualized dividend and a yield of 5.1%. Prudential Financial's dividend payout ratio (DPR) is presently 119.73%.

Analysts Set New Price Targets

PRU has been the subject of a number of recent analyst reports. Piper Sandler decreased their price target on Prudential Financial from $109.00 to $108.00 and set a "neutral" rating for the company in a report on Wednesday, July 16th. UBS Group decreased their price target on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a report on Tuesday, May 27th. Barclays increased their price target on Prudential Financial from $119.00 to $120.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Keefe, Bruyette & Woods cut their price objective on shares of Prudential Financial from $120.00 to $117.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company cut their price objective on shares of Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $121.75.

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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