Prudential Financial, Inc. $PRU Stock Position Decreased by Swedbank AB

Key Points

• Swedbank AB reduced its stake in Prudential Financial by 3.3%, now holding approximately $32.93 million worth of the company's stock.
• Prudential Financial reported earnings of $3.58 per share, beating expectations, despite a 2.5% year-over-year revenue decline.
• Dividend was recently set at $1.35 per share, resulting in a 5.0% yield with a payout ratio of 119.73%.

Swedbank AB lessened its holdings in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 3.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 294,896 shares of the financial services provider's stock after selling 9,935 shares during the quarter. Swedbank AB owned about 0.08% of Prudential Financial worth $32,934,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. GAMMA Investing LLC grew its position in shares of Prudential Financial by 11,280.3% in the 1st quarter. GAMMA Investing LLC now owns 867,865 shares of the financial services provider's stock worth $96,923,000 after buying an additional 860,239 shares during the last quarter. Nuveen LLC purchased a new position in Prudential Financial during the first quarter valued at $90,010,000. Goldman Sachs Group Inc. raised its stake in shares of Prudential Financial by 19.2% in 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 purchasing an additional 678,028 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Prudential Financial by 11.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,410,363 shares of the financial services provider's stock worth $404,230,000 after acquiring an additional 352,335 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Prudential Financial during the fourth quarter valued at about $25,796,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of Prudential Financial stock in a transaction on Friday, August 29th. The shares were sold at an average price of $109.65, for a total value of $438,600.00. Following the transaction, the executive vice president owned 21,506 shares in the company, valued at $2,358,132.90. This trade represents a 15.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on PRU. Morgan Stanley boosted their target price on Prudential Financial from $113.00 to $117.00 and gave the stock an "equal weight" rating in a research report on Monday, August 18th. Wall Street Zen upgraded Prudential Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Piper Sandler reduced their price objective on Prudential Financial from $109.00 to $108.00 and set a "neutral" rating for the company in a research note on Wednesday, July 16th. JPMorgan Chase & Co. lifted their price objective on Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Finally, Wolfe Research initiated coverage on shares of Prudential Financial in a research report on Tuesday. They issued a "peer perform" rating for the company. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Prudential Financial has a consensus rating of "Hold" and a consensus target price of $122.08.

Prudential Financial Stock Performance

NYSE PRU traded up $1.17 during trading hours on Thursday, hitting $104.18. The company had a trading volume of 352,660 shares, compared to its average volume of 1,750,986. The business has a 50 day moving average of $105.41 and a 200-day moving average of $105.33. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. 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 company has a market cap of $36.67 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 0.91 and a beta of 1.07.

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

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Tuesday, August 19th were given a dividend of $1.35 per share. The ex-dividend date was Tuesday, August 19th. This represents a $5.40 dividend on an annualized basis and a yield of 5.2%. Prudential Financial's dividend payout ratio (DPR) is 119.73%.

About Prudential Financial

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.