Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases 25,200 Shares of Prudential Financial, Inc. $PRU

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 80.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,341 shares of the financial services provider’s stock after purchasing an additional 25,200 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Prudential Financial were worth $5,504,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PRU. Jessup Wealth Management Inc acquired a new position in Prudential Financial in the 4th quarter valued at approximately $25,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Prudential Financial in the fourth quarter worth $26,000. Salomon & Ludwin LLC grew its stake in shares of Prudential Financial by 98.3% in 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 last quarter. SJS Investment Consulting Inc. raised its position in Prudential Financial by 93.1% during the 1st quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 134 shares during the last quarter. Finally, Lodestone Wealth Management LLC bought a new stake in shares of Prudential Financial in the 4th quarter valued at about $28,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Mizuho raised their price target on shares of Prudential Financial from $96.00 to $101.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Keefe, Bruyette & Woods increased their price target on Prudential Financial from $100.00 to $106.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Morgan Stanley reissued an “underweight” rating and issued a $92.00 price objective (down from $106.00) on shares of Prudential Financial in a research note on Monday, May 4th. Barclays upped their target price on Prudential Financial from $89.00 to $90.00 and gave the company an “underweight” rating in a research report on Wednesday, May 6th. Finally, Piper Sandler lifted their price objective on shares of Prudential Financial from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, June 24th. Eleven equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $101.92.

Prudential Financial Stock Down 0.1%

Shares of NYSE:PRU opened at $112.83 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a 52-week low of $91.89 and a 52-week high of $119.76. The business’s 50 day simple moving average is $103.68 and its two-hundred day simple moving average is $104.06. The firm has a market cap of $39.15 billion, a P/E ratio of 11.61, a PEG ratio of 2.06 and a beta of 0.85.

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 the consensus estimate of $3.09 by $0.52. Prudential Financial had a return on equity of 16.33% and a net margin of 5.83%.The firm had revenue of $15.23 billion during the quarter, compared to the consensus estimate of $14.10 billion. During the same quarter in the previous year, the company posted $3.29 earnings per share. As a group, research analysts forecast that Prudential Financial, Inc. will post 13.81 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, May 26th were given a $1.40 dividend. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $5.60 annualized dividend and a yield of 5.0%. Prudential Financial’s dividend payout ratio (DPR) is presently 57.61%.

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.