National Pension Service Has $64.07 Million Stake in Prudential Financial, Inc. $PRU

National Pension Service raised its position in Prudential Financial, Inc. (NYSE:PRU) by 0.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 596,313 shares of the financial services provider’s stock after purchasing an additional 4,044 shares during the quarter. National Pension Service owned 0.17% of Prudential Financial worth $64,068,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC raised its stake in shares of Prudential Financial by 3.7% during the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock valued at $436,000 after acquiring an additional 133 shares during the last quarter. CWM LLC raised its position in Prudential Financial by 8.8% during the 1st quarter. CWM LLC now owns 15,976 shares of the financial services provider’s stock worth $1,784,000 after purchasing an additional 1,290 shares during the last quarter. Edgestream Partners L.P. acquired a new position in Prudential Financial during the 1st quarter worth about $2,753,000. Larson Financial Group LLC grew its position in shares of Prudential Financial by 98.7% in the 1st quarter. Larson Financial Group LLC now owns 2,362 shares of the financial services provider’s stock valued at $264,000 after buying an additional 1,173 shares during the last quarter. Finally, Welch & Forbes LLC increased its stake in shares of Prudential Financial by 16.1% in the first quarter. Welch & Forbes LLC now owns 2,158 shares of the financial services provider’s stock valued at $241,000 after buying an additional 300 shares during the period. 56.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PRU shares. Weiss Ratings restated a “hold (c)” rating on shares of Prudential Financial in a research report on Wednesday, October 8th. Barclays lowered their target price on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods upped their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the company a “market perform” rating in a research report on Monday, November 3rd. Wolfe Research initiated coverage on Prudential Financial in a report on Tuesday, September 16th. They set a “peer perform” rating for the company. Finally, Wall Street Zen upgraded Prudential Financial from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Prudential Financial presently has a consensus rating of “Hold” and a consensus price target of $120.73.

Prudential Financial Trading Down 0.0%

NYSE:PRU opened at $107.75 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. The company has a market cap of $37.71 billion, a PE ratio of 14.80, a PEG ratio of 0.88 and a beta of 1.05. The firm has a 50-day moving average of $103.67 and a 200-day moving average of $104.66.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 EPS for the quarter. The firm had revenue of $8.35 billion during the quarter. Prudential Financial had a return on equity of 16.98% and a net margin of 4.65%. As a group, equities research analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

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

Insider Transactions at Prudential Financial

In other news, Chairman Charles F. Lowrey sold 48,164 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $107.39, for a total value of $5,172,331.96. Following the transaction, the chairman owned 165,564 shares in the company, valued at $17,779,917.96. The trade was a 22.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ann M. Kappler sold 4,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president directly owned 21,506 shares of the company’s stock, valued at $2,358,132.90. The trade was a 15.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.25% of the stock is owned by company insiders.

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.