Swiss National Bank Lowers Stock Position in Prudential Financial, Inc. $PRU

Swiss National Bank decreased its stake in Prudential Financial, Inc. (NYSE:PRU) by 4.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,020,400 shares of the financial services provider’s stock after selling 51,400 shares during the quarter. Swiss National Bank’s holdings in Prudential Financial were worth $105,856,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Darwin Wealth Management LLC purchased a new position in shares of Prudential Financial in the 2nd quarter worth about $36,000. Chilton Capital Management LLC lifted its position in Prudential Financial by 146.5% in the 3rd quarter. Chilton Capital Management LLC now owns 350 shares of the financial services provider’s stock worth $36,000 after buying an additional 208 shares during the last quarter. AlphaCore Capital LLC purchased a new stake in Prudential Financial in the second quarter worth approximately $39,000. Capital A Wealth Management LLC grew its position in Prudential Financial by 4,600.0% during the second quarter. Capital A Wealth Management LLC now owns 376 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 368 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of Prudential Financial in the 2nd quarter worth approximately $51,000. 56.83% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Jacques Chappuis acquired 1,000 shares of Prudential Financial stock in a transaction on Friday, February 6th. The shares were acquired at an average cost of $100.97 per share, with a total value of $100,970.00. Following the transaction, the executive vice president owned 1,000 shares in the company, valued at $100,970. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas D. Stoddard acquired 250 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was bought at an average price of $102.97 per share, with a total value of $25,742.50. Following the completion of the acquisition, the director directly owned 250 shares in the company, valued at approximately $25,742.50. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 1,408,389 shares of company stock valued at $35,154,439 over the last quarter. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PRU shares. Evercore reaffirmed a “negative” rating on shares of Prudential Financial in a report on Friday. Wall Street Zen lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Weiss Ratings raised Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. JPMorgan Chase & Co. dropped their target price on Prudential Financial from $133.00 to $127.00 and set a “neutral” rating for the company in a report on Wednesday, February 4th. Finally, UBS Group raised their price target on Prudential Financial from $111.00 to $116.00 and gave the stock a “neutral” rating in a research report on Thursday, January 8th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $115.00.

Prudential Financial Stock Performance

Shares of NYSE:PRU opened at $95.42 on Wednesday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The company has a market cap of $33.21 billion, a price-to-earnings ratio of 9.54, a price-to-earnings-growth ratio of 1.11 and a beta of 0.98. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $119.76. The company has a 50-day moving average price of $106.97 and a 200-day moving average price of $106.89.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.37 by ($0.07). Prudential Financial had a net margin of 6.20% and a return on equity of 16.32%. The business had revenue of $14.52 billion for the quarter, compared to analysts’ expectations of $14.48 billion. During the same quarter in the prior year, the firm earned $2.96 EPS. As a group, equities analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Tuesday, February 17th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.35. This represents a $5.60 dividend on an annualized basis and a yield of 5.9%. Prudential Financial’s payout ratio is 56.00%.

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.