Prudential Financial, Inc. $PRU Shares Acquired by Viking Fund Management LLC

Key Points

• Viking Fund Management LLC increased its stake in Prudential Financial, Inc. by 4.8% during the second quarter, bringing its total holdings to about $9.35 million with 87,000 shares.
• Prudential Financial reported earnings of $3.58 per share for the last quarter, surpassing analyst estimates of $3.22, while its revenue was $13.50 billion, slightly above expectations.
• The company declared a quarterly dividend of $1.35 per share, representing a yield of 5.2%, with a dividend payout ratio of 119.73%.

Viking Fund Management LLC boosted its position in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 4.8% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 87,000 shares of the financial services provider's stock after acquiring an additional 4,000 shares during the quarter. Prudential Financial comprises about 1.3% of Viking Fund Management LLC's portfolio, making the stock its 25th largest position. Viking Fund Management LLC's holdings in Prudential Financial were worth $9,347,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SPC Financial Inc. lifted its position in Prudential Financial by 2.6% during the 1st quarter. SPC Financial Inc. now owns 3,973 shares of the financial services provider's stock worth $444,000 after acquiring an additional 100 shares during the period. NorthCrest Asset Manangement LLC lifted its holdings in shares of Prudential Financial by 3.8% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 2,738 shares of the financial services provider's stock valued at $306,000 after buying an additional 101 shares during the period. Thrive Wealth Management LLC lifted its holdings in shares of Prudential Financial by 2.6% in the 2nd quarter. Thrive Wealth Management LLC now owns 4,007 shares of the financial services provider's stock valued at $430,000 after buying an additional 101 shares during the period. Principle Wealth Partners LLC lifted its holdings in shares of Prudential Financial by 0.3% in the 1st quarter. Principle Wealth Partners LLC now owns 42,294 shares of the financial services provider's stock valued at $4,723,000 after buying an additional 109 shares during the period. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Prudential Financial by 90.2% in the 1st quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider's stock valued at $26,000 after buying an additional 111 shares during the period. Institutional investors and hedge funds own 56.83% of the company's stock.

Insider Buying and Selling at Prudential Financial

In other 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 sale, the executive vice president owned 21,506 shares in the company, valued at approximately $2,358,132.90. This represents a 15.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.25% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wall Street Zen raised Prudential Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Wells Fargo & Company cut their price target on Prudential Financial from $116.00 to $113.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 16th. JPMorgan Chase & Co. lifted their price target on Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. UBS Group cut their price target on Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a research note on Tuesday, May 27th. Finally, Wolfe Research started coverage on Prudential Financial in a research note on Tuesday, September 16th. They issued a "peer perform" rating for the company. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $122.08.

Prudential Financial Stock Down 0.7%

NYSE:PRU traded down $0.69 during trading hours on Monday, hitting $102.90. The company's stock had a trading volume of 1,439,519 shares, compared to its average volume of 1,761,185. The stock has a market capitalization of $36.22 billion, a P/E ratio of 22.82, a price-to-earnings-growth ratio of 0.92 and a beta of 1.07. The stock has a fifty day moving average of $105.30 and a 200-day moving average of $105.15. 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, Inc. has a 52-week low of $90.38 and a 52-week high of $130.55.

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

Prudential Financial Dividend Announcement

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

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.