Nykredit A S Makes New Investment in Prudential Financial, Inc. $PRU

Key Points

• Nykredit A/S purchased 97,518 Prudential Financial shares during the second quarter, a stake valued at approximately $10.5 million. Institutional investors collectively own 56.83% of PRU.
• Prudential reported quarterly earnings of $4.08 per share, beating analyst expectations of $3.52, while revenue of $14.15 billion came in slightly below estimates. The company also declared a quarterly dividend of $1.40, representing a 4.6% annualized yield.
• PRU shares opened at $122.06, above the analyst consensus target of $109.31; despite several raised price targets, analyst sentiment remains cautious, with a consensus rating of “Reduce.”

Nykredit A S purchased a new stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 97,518 shares of the financial services provider's stock, valued at approximately $10,525,000.

Several other large investors have also recently modified their holdings of the company. Jessup Wealth Management Inc purchased a new stake in Prudential Financial in the fourth quarter valued at about $25,000. Archer Investment Corp purchased a new stake in shares of Prudential Financial during the second quarter worth about $26,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of Prudential Financial during the fourth quarter valued at about $26,000. SJS Investment Consulting Inc. raised its position in shares of Prudential Financial by 93.1% in the 1st 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 last quarter. Finally, Basepoint Wealth LLC acquired a new stake in Prudential Financial in the 4th quarter worth approximately $30,000. Institutional investors own 56.83% of the company's stock.

Insider Transactions at Prudential Financial

In other news, EVP Ann M. Kappler sold 7,652 shares of the company's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $125.01, for a total value of $956,576.52. Following the completion of the sale, the executive vice president directly owned 14,407 shares in the company, valued at $1,801,019.07. This represents a 34.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $24.75, for a total value 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 represents a 2.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.05% of the company's stock.

Prudential Financial Stock Performance

Shares of NYSE:PRU opened at $122.06 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a 1 year low of $91.89 and a 1 year high of $127.72. The firm has a market capitalization of $42.11 billion, a PE ratio of 11.06, a P/E/G ratio of 1.84 and a beta of 0.83. The business's 50 day moving average price is $119.17 and its 200-day moving average price is $106.83.

Prudential Financial (NYSE:PRU - Get Free Report) last posted its quarterly earnings data 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 return on equity of 16.68% and a net margin of 6.51%.The firm had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.36 billion. During the same period in the prior year, the company earned $3.58 EPS. As a group, equities research analysts expect that Prudential Financial, Inc. will post 14.51 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Tuesday, August 25th. Prudential Financial's dividend payout ratio (DPR) is currently 50.72%.

Key Prudential Financial News

Here are the key news stories impacting Prudential Financial this week:

• Positive Sentiment: Prudential’s PGIM asset-management unit launched two core equity exchange-traded funds, expanding its investment-product lineup and potentially supporting fee-based revenue and distribution growth. Prudential Financial's PGIM launches two core equity ETFs
• Positive Sentiment: Prudential recently reported second-quarter adjusted earnings of $4.08 per share, above the $3.52 analyst consensus and ahead of the $3.58 reported in the prior-year period. The earnings beat provides a supportive fundamental backdrop, although quarterly revenue was slightly below expectations. What Prudential Financial's Targeted Long-Term Debt Issuance and Earnings Beat Means For Shareholders
• Positive Sentiment: Prudential Advisors added Cleveland-based advisor Zachary Karason, who brings more than 12 years of experience and over $106 million in client assets. The hire may modestly strengthen Prudential’s wealth-management distribution and asset-gathering capabilities. Prudential Advisors Welcomes Zachary Karason to Mid America Financial Group
• Neutral Sentiment: Prudential issued multiple senior unsecured fixed-rate notes with maturities from 2029 through 2036. The staggered maturities and mix of callable and non-callable debt could improve funding flexibility, but the offerings also add interest obligations. What Prudential Financial's Targeted Long-Term Debt Issuance and Earnings Beat Means For Shareholders
• Negative Sentiment: A recent analysis noted that PRU has declined modestly since its latest earnings report, suggesting investors have not fully rewarded the earnings beat and may remain focused on forward estimates, interest rates and insurance-sector conditions. Prudential Down Since Last Earnings Report

Analyst Ratings Changes

PRU has been the subject of a number of research analyst reports. Wells Fargo & Company raised their price target on shares of Prudential Financial from $103.00 to $110.00 and gave the stock an "underweight" rating in a report on Wednesday, August 19th. Piper Sandler upped their target price on Prudential Financial from $110.00 to $128.00 and gave the company a "neutral" rating in a research report on Tuesday, August 11th. Keefe, Bruyette & Woods raised their target price on Prudential Financial from $113.00 to $123.00 and gave the stock a "market perform" rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. boosted their price target on Prudential Financial from $129.00 to $131.00 and gave the company a "neutral" rating in a research note on Monday, August 17th. Finally, TD Cowen raised their price objective on Prudential Financial from $102.00 to $114.00 and gave the stock a "hold" rating in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus target price of $109.31.

About Prudential Financial

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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