Forsta AP Fonden Sells 21,100 Shares of Prudential Financial, Inc. $PRU

Forsta AP Fonden lessened its position in Prudential Financial, Inc. (NYSE:PRU) by 17.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,900 shares of the financial services provider’s stock after selling 21,100 shares during the period. Forsta AP Fonden’s holdings in Prudential Financial were worth $10,518,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. grew its holdings in Prudential Financial by 90.2% during the first quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 111 shares during the period. Cheviot Value Management LLC acquired a new stake in shares of Prudential Financial in the first quarter valued at approximately $26,000. AlphaQuest LLC boosted its stake in shares of Prudential Financial by 12,250.0% during the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 245 shares during the period. Clearstead Trust LLC increased its holdings in shares of Prudential Financial by 350.8% during the 1st quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 207 shares during the last quarter. Finally, N.E.W. Advisory Services LLC bought a new stake in Prudential Financial in the 1st quarter valued at $45,000. 56.83% of the stock is owned by institutional investors.

Prudential Financial Stock Performance

NYSE PRU opened at $107.75 on Friday. The firm has a 50-day moving average price of $103.67 and a two-hundred day moving average price of $104.66. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $130.55. The company has a market capitalization of $37.71 billion, a P/E ratio of 14.80, a P/E/G ratio of 0.88 and a beta of 1.05. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last announced 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 for the quarter. Prudential Financial had a net margin of 4.65% and a return on equity of 16.98%. Analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th will be issued a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $5.40 annualized dividend and a yield of 5.0%. Prudential Financial’s payout ratio is currently 74.18%.

Analyst Upgrades and Downgrades

PRU has been the subject of a number of research analyst reports. Morgan Stanley lifted their price objective on shares of Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Barclays reduced their target price on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. Keefe, Bruyette & Woods increased their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the company a “market perform” rating in a report on Monday, November 3rd. Wolfe Research began coverage on shares of Prudential Financial in a research report on Tuesday, September 16th. They set a “peer perform” rating for the company. Finally, Wall Street Zen raised Prudential Financial from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $120.73.

Insiders Place Their Bets

In related news, Chairman Charles F. Lowrey sold 48,164 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were 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 of the company’s stock, valued at $17,779,917.96. This represents a 22.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Ann M. Kappler sold 4,000 shares of the firm’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.25% of the company’s stock.

Prudential Financial Company 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.