Prudential Financial, Inc. $PRU Shares Bought by Nordea Investment Management AB

Key Points

• Nordea Investment Management AB increased its stake in Prudential Financial by 49.2%, owning approximately 1.72 million shares valued at $184.19 million.
• Prudential Financial recently announced a quarterly dividend of $1.35 per share, representing a 5.4% yield, with a dividend payout ratio of 119.73%.
• The stock has experienced fluctuations, with a 12-month trading range between $90.38 and $130.55, and analysts currently maintaining a consensus "Hold" rating.

Nordea Investment Management AB boosted its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 49.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,720,781 shares of the financial services provider's stock after acquiring an additional 567,571 shares during the period. Nordea Investment Management AB owned about 0.49% of Prudential Financial worth $184,192,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Invesco Ltd. raised its position in Prudential Financial by 2.7% during the first quarter. Invesco Ltd. now owns 4,440,003 shares of the financial services provider's stock worth $495,859,000 after acquiring an additional 116,079 shares during the period. Goldman Sachs Group Inc. raised its position in Prudential Financial by 19.2% during the first quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider's stock worth $469,777,000 after acquiring an additional 678,028 shares during the period. Ameriprise Financial Inc. raised its position in Prudential Financial by 5.6% during the first quarter. Ameriprise Financial Inc. now owns 1,801,551 shares of the financial services provider's stock worth $201,201,000 after acquiring an additional 95,021 shares during the period. Amundi raised its position in Prudential Financial by 14.1% during the first quarter. Amundi now owns 1,751,633 shares of the financial services provider's stock worth $183,571,000 after acquiring an additional 216,119 shares during the period. Finally, Deutsche Bank AG grew its holdings in shares of Prudential Financial by 2.3% during the first quarter. Deutsche Bank AG now owns 1,284,466 shares of the financial services provider's stock worth $143,449,000 after buying an additional 29,025 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Price Performance

Prudential Financial stock opened at $100.76 on Friday. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55. The stock has a market cap of $35.47 billion, a P/E ratio of 22.34, a PEG ratio of 0.88 and a beta of 1.04. The company has a 50-day moving average price of $105.06 and a 200 day moving average price of $104.17. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU - Get Free Report) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The firm had revenue of $8.35 billion during the quarter. Sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend was Tuesday, August 19th. Prudential Financial's dividend payout ratio (DPR) is 119.73%.

Analysts Set New Price Targets

PRU has been the topic of a number of recent research reports. Piper Sandler lowered their price target on shares of Prudential Financial from $109.00 to $108.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 16th. Wolfe Research initiated coverage on shares of Prudential Financial in a research note on Tuesday, September 16th. They issued a "peer perform" rating on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Prudential Financial in a research report on Wednesday, October 8th. Barclays reduced their price objective on Prudential Financial from $120.00 to $117.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped their target price on Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Prudential Financial presently has a consensus rating of "Hold" and an average target price of $122.27.

Insiders Place Their Bets

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the transaction, the executive vice president owned 21,506 shares of the company's stock, valued at $2,358,132.90. This trade represents a 15.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.25% of the stock is currently owned by company 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.

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