Prudential Financial, Inc. $PRU Shares Acquired by Groupe la Francaise

Groupe la Francaise raised its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 5.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 91,867 shares of the financial services provider’s stock after purchasing an additional 4,702 shares during the period. Groupe la Francaise’s holdings in Prudential Financial were worth $9,915,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. California State Teachers Retirement System grew its holdings in Prudential Financial by 10,014.4% in the 2nd quarter. California State Teachers Retirement System now owns 63,173,911 shares of the financial services provider’s stock worth $6,818,360,000 after buying an additional 62,549,318 shares in the last quarter. BlackRock Inc. bought a new position in shares of Prudential Financial in the second quarter worth $3,507,481,000. State Street Corp grew its stake in shares of Prudential Financial by 1.2% in the fourth quarter. State Street Corp now owns 17,234,061 shares of the financial services provider’s stock worth $1,945,381,000 after purchasing an additional 210,959 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Prudential Financial by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 9,533,806 shares of the financial services provider’s stock valued at $1,078,904,000 after purchasing an additional 26,414 shares during the period. Finally, Morgan Stanley raised its stake in shares of Prudential Financial by 6.7% during the fourth quarter. Morgan Stanley now owns 6,649,202 shares of the financial services provider’s stock valued at $750,562,000 after purchasing an additional 420,081 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Trending Headlines about Prudential Financial

Here are the key news stories impacting Prudential Financial this week:

• Positive Sentiment: Prudential’s PGIM asset-management unit launched two core equity exchange-traded funds, expanding its investment-product lineup and potentially supporting fee-based revenue and distribution growth. Prudential Financial’s PGIM launches two core equity ETFs
• Positive Sentiment: Prudential recently reported second-quarter adjusted earnings of $4.08 per share, above the $3.52 analyst consensus and ahead of the $3.58 reported in the prior-year period. The earnings beat provides a supportive fundamental backdrop, although quarterly revenue was slightly below expectations. What Prudential Financial’s Targeted Long-Term Debt Issuance and Earnings Beat Means For Shareholders
• Positive Sentiment: Prudential Advisors added Cleveland-based advisor Zachary Karason, who brings more than 12 years of experience and over $106 million in client assets. The hire may modestly strengthen Prudential’s wealth-management distribution and asset-gathering capabilities. Prudential Advisors Welcomes Zachary Karason to Mid America Financial Group
• Neutral Sentiment: Prudential issued multiple senior unsecured fixed-rate notes with maturities from 2029 through 2036. The staggered maturities and mix of callable and non-callable debt could improve funding flexibility, but the offerings also add interest obligations. What Prudential Financial’s Targeted Long-Term Debt Issuance and Earnings Beat Means For Shareholders
• Negative Sentiment: A recent analysis noted that PRU has declined modestly since its latest earnings report, suggesting investors have not fully rewarded the earnings beat and may remain focused on forward estimates, interest rates and insurance-sector conditions. Prudential Down Since Last Earnings Report

Prudential Financial Price Performance

Shares of NYSE PRU opened at $122.06 on Monday. Prudential Financial, Inc. has a twelve month low of $91.89 and a twelve month high of $127.72. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average of $119.17 and a two-hundred day moving average of $106.84. The company has a market capitalization of $42.11 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 1.84 and a beta of 0.83.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.52 by $0.56. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. The company had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.36 billion. During the same quarter in the previous year, the company posted $3.58 EPS. As a group, analysts expect that Prudential Financial, Inc. will post 14.51 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th will be given a $1.40 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $5.60 annualized dividend and a yield of 4.6%. Prudential Financial’s payout ratio is 50.72%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Argus lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, June 9th. Mizuho upped their price target on shares of Prudential Financial from $101.00 to $109.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Zacks Research upgraded shares of Prudential Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, June 12th. JPMorgan Chase & Co. boosted their target price on Prudential Financial from $129.00 to $131.00 and gave the stock a “neutral” rating in a report on Monday, August 17th. Finally, TD Cowen increased their price target on Prudential Financial from $102.00 to $114.00 and gave the company a “hold” rating in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $109.31.

Insider Buying and Selling at Prudential Financial

In related news, EVP Ann M. Kappler sold 7,652 shares of Prudential Financial stock in a transaction on Friday, August 14th. The stock was sold at an average price of $125.01, for a total value of $956,576.52. Following the transaction, the executive vice president directly owned 14,407 shares in the company, valued at $1,801,019.07. The trade was a 34.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $24.75, for a total value of $5,314,963.50. Following the sale, the insider directly owned 7,973,657 shares in the company, valued at $197,348,010.75. This trade represents a 2.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.05% of the stock is currently owned by corporate insiders.

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.