Public Sector Pension Investment Board has $7.14 million in shares of Prudential Financial, Inc. (NYSE:PRU)

VaselineSeptember 25, 2024

0 5 minutes read

Public Sector Pension Investment Board boosted its holdings in shares of Prudential Financial, Inc. (NYSE:PRU – Free Report) by 7.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,880 shares of the financial services provider’s stock after purchasing an additional 4,212 shares during the period. Public Sector Pension Investment Committee’s holdings in Prudential Financial were worth $7,135,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Prudential Financial by 13.9% in the 4th quarter. Vanguard Group Inc. now owns 42,292,853 shares of the financial services provider’s stock valued at $4,386,192,000 after buying an additional 5,154,865 shares during the period. AustralianSuper Pty Ltd boosted its stake in Prudential Financial by 2.8% in the second quarter. AustralianSuper Pty Ltd now owns 1,237,537 shares of the financial services provider’s stock valued at $145,027,000 after buying an additional 34,160 shares during the period. Federated Hermes Inc. lifted its position in Prudential Financial by 8.8% in the second quarter. Federated Hermes Inc. now owns 1,025,527 shares of the financial services provider’s stock worth $120,181,000 after purchasing an additional 82,620 shares in the last quarter. Stifel Financial Corp raised its stake in shares of Prudential Financial by 0.4% in the 4th quarter. Stifel Financial Corp now owns 1,003,558 shares of the financial services provider’s stock valued at $104,080,000 after buying an additional 4,006 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Prudential Financial by 7.2% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 926,641 shares of the financial services provider’s stock worth $108,788,000 after purchasing an additional 62,578 shares in the last quarter. 56.83% of the shares are owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prudential Financial

In other news, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the transaction, the executive vice president now owns 14,535 shares in the company, valued at approximately $1,648,705.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC’s website. In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the sale, the executive vice president now owns 14,535 shares in the company, valued at approximately $1,648,705.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Also, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the transaction, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s shares.

Prudential financial stock down 0.8%

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Shares of Prudential Financial opened at $119.88 on Wednesday. The firm has a market cap of $42.80 billion, a price-to-earnings ratio of 20.39, a P/E/G ratio of 0.96 and a beta of 1.30. The firm has a fifty day moving average price of $117.60 and a two hundred day moving average price of $116.52. Prudential Financial, Inc. it has a fifty-two week low of $87.95 and a fifty-two week high of $128.52. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13, and a quick ratio of 0.13.

Prudential Financial (NYSE:PRU – Get Your Free Report ) last announced its earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share for the quarter, missing the consensus estimate of $3.43 by ($0.04). The company had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. As a group, analysts estimate that Prudential Financial, Inc. will post 13.3 earnings per share for the current year.

Prudential Financial announces dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Tuesday, August 20th were paid a dividend of $1.30 per share. This represents an annualized dividend of $5.20 and a yield of 4.34%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial’s payout ratio is currently 88.44%.

The Wall Street analyst weighs in

PRU has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price objective on Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Wells Fargo & Company raised Prudential Financial from an “underweight” rating to an “equal weight” rating and set a $113.00 price target for the company in a research note on Monday, August 12th. Argus raised shares of Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. UBS Group boosted their target price on shares of Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Finally, Morgan Stanley decreased their price objective on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research note on Monday. August 19. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Prudential Financial currently has a consensus rating of “Hold” and an average price target of $120.83, according to MarketBeat .

Get the latest report on Prudential Financial

Prudential Financial Company Profile

(Free Report)

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 Business segments.