Commerzbank Aktiengesellschaft FI Takes $2.78 Million Position in Prudential Financial, Inc. $PRU

Commerzbank Aktiengesellschaft FI acquired a new stake in Prudential Financial, Inc. (NYSE:PRU) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,730 shares of the financial services provider’s stock, valued at approximately $2,777,000.

Several other large investors have also bought and sold shares of the company. Rossby Financial LCC grew its holdings in Prudential Financial by 32.4% during the fourth quarter. Rossby Financial LCC now owns 421 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 103 shares during the period. TD Private Client Wealth LLC boosted its position in shares of Prudential Financial by 5.6% during the 4th quarter. TD Private Client Wealth LLC now owns 1,972 shares of the financial services provider’s stock valued at $223,000 after purchasing an additional 104 shares in the last quarter. Western Wealth Management LLC boosted its position in shares of Prudential Financial by 1.7% during the 4th quarter. Western Wealth Management LLC now owns 6,215 shares of the financial services provider’s stock valued at $702,000 after purchasing an additional 105 shares in the last quarter. Apella Capital LLC grew its stake in shares of Prudential Financial by 3.7% in the 1st quarter. Apella Capital LLC now owns 2,979 shares of the financial services provider’s stock worth $303,000 after purchasing an additional 106 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV raised its holdings in shares of Prudential Financial by 3.6% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 3,238 shares of the financial services provider’s stock worth $366,000 after purchasing an additional 112 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Down 0.5%

NYSE PRU opened at $124.54 on Tuesday. The firm’s 50 day moving average price is $115.36 and its two-hundred day moving average price is $105.33. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a twelve month low of $91.89 and a twelve month high of $127.72. The stock has a market cap of $42.97 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 2.38 and a beta of 0.84.

Prudential Financial (NYSE:PRU) last released its earnings results on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.52 by $0.56. The company had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.36 billion. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%.During the same quarter in the prior year, the company earned $3.58 earnings per share. Equities analysts anticipate that Prudential Financial, Inc. will post 14.17 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th will be given a dividend of $1.40 per share. The ex-dividend date is Tuesday, August 25th. This represents a $5.60 dividend on an annualized basis and a yield of 4.5%. Prudential Financial’s dividend payout ratio (DPR) is presently 50.72%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PRU. Argus cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Tuesday, June 9th. BMO Capital Markets dropped their price target on Prudential Financial from $91.00 to $87.00 and set an “underperform” rating on the stock in a report on Thursday, April 23rd. 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. Wall Street Zen cut Prudential Financial from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Piper Sandler boosted their target price on Prudential Financial from $110.00 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, Prudential Financial currently has a consensus rating of “Reduce” and an average target price of $107.77.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of Prudential Financial stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $24.75, for a total transaction of $5,314,963.50. Following the transaction, the insider owned 7,973,657 shares of the company’s stock, valued at $197,348,010.75. The trade was a 2.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.05% of the stock is currently owned by company insiders.

Prudential Financial Profile

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.