Prudential Financial, Inc. $PRU Shares Bought by Candriam S.C.A.

Candriam S.C.A. lifted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 15.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,076 shares of the financial services provider’s stock after buying an additional 5,904 shares during the quarter. Candriam S.C.A.’s holdings in Prudential Financial were worth $4,628,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Proffitt & Goodson Inc. lifted its stake in Prudential Financial by 12.7% during the second quarter. Proffitt & Goodson Inc. now owns 871 shares of the financial services provider’s stock valued at $94,000 after buying an additional 98 shares in the last quarter. SPC Financial Inc. raised its holdings in shares of Prudential Financial by 2.6% during the first quarter. SPC Financial Inc. now owns 3,973 shares of the financial services provider’s stock valued at $444,000 after acquiring an additional 100 shares during the period. Thrive Wealth Management LLC lifted its position 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 acquiring an additional 101 shares in the last quarter. Eagle Capital Management LLC grew its position in Prudential Financial by 0.3% during the 2nd quarter. Eagle Capital Management LLC now owns 35,806 shares of the financial services provider’s stock worth $3,847,000 after purchasing an additional 108 shares in the last quarter. Finally, TIAA Trust National Association raised its stake in Prudential Financial by 2.7% during the 2nd quarter. TIAA Trust National Association now owns 4,142 shares of the financial services provider’s stock valued at $445,000 after purchasing an additional 108 shares during the period. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Trading Down 0.7%

NYSE:PRU opened at $107.12 on Friday. The company has a market capitalization of $37.49 billion, a P/E ratio of 14.71, a P/E/G ratio of 0.88 and a beta of 1.05. The stock’s 50 day moving average price is $103.70 and its 200 day moving average price is $104.69. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 EPS for the quarter. The company had revenue of $8.35 billion during the quarter. Prudential Financial had a net margin of 4.65% and a return on equity of 16.98%. On average, research analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

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 issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 5.0%. The ex-dividend date is Tuesday, November 18th. Prudential Financial’s dividend payout ratio (DPR) is 74.18%.

Insider Transactions at Prudential Financial

In other news, Chairman Charles F. Lowrey sold 48,164 shares of the company’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the completion of the sale, the chairman owned 165,564 shares in the company, valued at approximately $17,779,917.96. This represents a 22.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $438,600.00. Following the transaction, the executive vice president directly owned 21,506 shares in the company, valued at approximately $2,358,132.90. This represents a 15.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on PRU shares. Keefe, Bruyette & Woods raised their target price on Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a research report on Monday, November 3rd. Morgan Stanley increased their price objective on Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Barclays lowered their target price on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. Wolfe Research assumed coverage on shares of Prudential Financial in a research report on Tuesday, September 16th. They issued a “peer perform” rating for the company. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Prudential Financial in a research report on Thursday. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Prudential Financial has an average rating of “Hold” and a consensus price target of $120.73.

Prudential Financial 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.