Nordea Investment Management AB Acquires 291,422 Shares of Prudential Financial, Inc. $PRU

Nordea Investment Management AB grew its holdings in Prudential Financial, Inc. (NYSE:PRU) by 16.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,044,374 shares of the financial services provider’s stock after buying an additional 291,422 shares during the period. Nordea Investment Management AB’s holdings in Prudential Financial were worth $231,321,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Wealth Watch Advisors INC acquired a new stake in Prudential Financial during the 3rd quarter valued at $30,000. Darwin Wealth Management LLC acquired a new position in shares of Prudential Financial in the second quarter valued at $36,000. Chilton Capital Management LLC increased its holdings in shares of Prudential Financial by 146.5% in the third quarter. Chilton Capital Management LLC now owns 350 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 208 shares during the last quarter. AlphaCore Capital LLC bought a new position in shares of Prudential Financial in the second quarter valued at about $39,000. Finally, Capital A Wealth Management LLC lifted its stake in shares of Prudential Financial by 4,600.0% during the 2nd quarter. Capital A Wealth Management LLC now owns 376 shares of the financial services provider’s stock worth $39,000 after buying an additional 368 shares during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Price Performance

NYSE:PRU opened at $93.07 on Monday. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $119.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The firm’s 50-day simple moving average is $103.31 and its 200 day simple moving average is $106.01. The firm has a market cap of $32.39 billion, a price-to-earnings ratio of 9.31, a P/E/G ratio of 1.15 and a beta of 0.98.

Prudential Financial (NYSE:PRU) last announced its 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 return on equity of 16.32% and a net margin of 6.20%.The business had revenue of $14.52 billion for the quarter, compared to analyst estimates of $14.48 billion. During the same quarter in the previous year, the company earned $2.96 EPS. As a group, sell-side analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Tuesday, February 17th were given a dividend of $1.40 per share. This is an increase from Prudential Financial’s previous quarterly dividend of $1.35. This represents a $5.60 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend was Tuesday, February 17th. Prudential Financial’s dividend payout ratio (DPR) is currently 56.00%.

Insider Buying and Selling

In related news, Director Thomas D. Stoddard bought 250 shares of Prudential Financial stock in a transaction dated Tuesday, February 17th. The shares were bought at an average cost of $102.97 per share, with a total value of $25,742.50. Following the acquisition, the director owned 250 shares in the company, valued at $25,742.50. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Joseph J. Wolk purchased 400 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The stock was bought at an average price of $105.32 per share, for a total transaction of $42,128.00. Following the transaction, the director directly owned 400 shares of the company’s stock, valued at $42,128. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 1,408,389 shares of company stock worth $35,154,439 in the last quarter. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PRU shares. UBS Group upped their price target on shares of Prudential Financial from $111.00 to $116.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. Weiss Ratings downgraded shares of Prudential Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 13th. JPMorgan Chase & Co. reduced their price objective on Prudential Financial from $133.00 to $127.00 and set a “neutral” rating for the company in a report on Wednesday, February 4th. Wall Street Zen downgraded Prudential Financial from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Finally, Barclays lowered their target price on Prudential Financial from $124.00 to $119.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 11th. Nine analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $115.22.

Prudential Financial Company 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.