Impax Asset Management Group plc Has $6.93 Million Stock Holdings in Prudential Financial, Inc. $PRU

Impax Asset Management Group plc raised its position in Prudential Financial, Inc. (NYSE:PRU) by 684.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,536 shares of the financial services provider’s stock after acquiring an additional 56,312 shares during the period. Impax Asset Management Group plc’s holdings in Prudential Financial were worth $6,934,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC increased its holdings in Prudential Financial by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 9,402,393 shares of the financial services provider’s stock valued at $1,010,474,000 after buying an additional 163,874 shares during the period. Invesco Ltd. increased its stake in Prudential Financial by 2.7% in the first quarter. Invesco Ltd. now owns 4,440,003 shares of the financial services provider’s stock valued at $495,859,000 after acquiring an additional 116,079 shares during the period. Goldman Sachs Group Inc. lifted its stake 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 purchasing an additional 678,028 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Prudential Financial by 5.6% in the 1st quarter. Ameriprise Financial Inc. now owns 1,801,551 shares of the financial services provider’s stock valued at $201,201,000 after purchasing an additional 95,021 shares during the period. Finally, Amundi raised its holdings in shares of Prudential Financial by 14.1% in the 1st quarter. Amundi now owns 1,751,633 shares of the financial services provider’s stock worth $183,571,000 after buying an additional 216,119 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors.

Insider Transactions at Prudential Financial

In related news, Chairman Charles F. Lowrey sold 48,164 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the completion of the transaction, the chairman owned 165,564 shares in the company, valued at approximately $17,779,917.96. The trade was a 22.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ann M. Kappler sold 4,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $2,358,132.90. This represents a 15.68% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Evercore ISI boosted their target price on shares of Prudential Financial from $120.00 to $122.00 and gave the company an “in-line” rating in a research note on Thursday, October 30th. Wolfe Research initiated coverage on shares of Prudential Financial in a report on Tuesday, September 16th. They set a “peer perform” rating for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Prudential Financial in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods raised their price target on Prudential Financial from $117.00 to $118.00 and gave the company a “market perform” rating in a report on Monday, November 3rd. Finally, Barclays cut their price objective on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $120.73.

Prudential Financial Stock Down 0.0%

Shares of NYSE PRU opened at $107.75 on Friday. The firm’s 50-day moving average is $103.67 and its 200-day moving average is $104.66. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The firm has a market capitalization of $37.71 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 0.88 and a beta of 1.05. 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) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. The firm had revenue of $8.35 billion for the quarter. Prudential Financial had a net margin of 4.65% and a return on equity of 16.98%. Equities analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $5.40 annualized dividend and a yield of 5.0%. Prudential Financial’s dividend payout ratio is presently 74.18%.

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.