BI Asset Management Fondsmaeglerselskab A S Has $6.15 Million Holdings in Prudential Financial, Inc. $PRU

BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 167.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,445 shares of the financial services provider’s stock after buying an additional 34,123 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Prudential Financial were worth $6,146,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Salomon & Ludwin LLC lifted its stake in Prudential Financial by 98.3% during the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 114 shares during the period. Lodestone Wealth Management LLC acquired a new position in shares of Prudential Financial in the 4th quarter worth approximately $28,000. Coston McIsaac & Partners lifted its position in shares of Prudential Financial by 93.4% during the 4th quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock worth $29,000 after buying an additional 128 shares during the period. Basepoint Wealth LLC acquired a new stake in Prudential Financial in the 4th quarter valued at $30,000. Finally, Wealth Watch Advisors INC acquired a new position in Prudential Financial during the third quarter worth $30,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Trading Up 0.1%

NYSE PRU opened at $104.67 on Monday. Prudential Financial, Inc. has a 12 month low of $91.89 and a 12 month high of $119.76. The stock has a 50-day simple moving average of $99.54 and a 200 day simple moving average of $104.31. 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 capitalization of $36.32 billion, a PE ratio of 10.77, a P/E/G ratio of 1.90 and a beta of 0.86.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $3.61 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.52. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. The business had revenue of $15.23 billion during the quarter, compared to analysts’ expectations of $14.10 billion. During the same quarter in the prior year, the company earned $3.29 EPS. Research analysts forecast that Prudential Financial, Inc. will post 13.84 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, May 26th will be issued a $1.40 dividend. The ex-dividend date is Tuesday, May 26th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 5.3%. Prudential Financial’s dividend payout ratio (DPR) is 57.61%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PRU. Piper Sandler lifted their price target on shares of Prudential Financial from $99.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, May 11th. BMO Capital Markets decreased their price target on Prudential Financial from $91.00 to $87.00 and set an “underperform” rating on the stock in a research report on Thursday, April 23rd. Wells Fargo & Company raised their price target on Prudential Financial from $93.00 to $100.00 and gave the company an “underweight” rating in a report on Tuesday, May 12th. Bank of America reduced their price objective on Prudential Financial from $112.00 to $104.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Finally, Barclays raised their target price on Prudential Financial from $89.00 to $90.00 and gave the company an “underweight” rating in a research note on Wednesday, May 6th. Nine investment analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $101.50.

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.