Commerzbank Aktiengesellschaft FI Has $2.46 Million Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Commerzbank Aktiengesellschaft FI raised its holdings in Prudential Financial, Inc. (NYSE:PRU) by 41.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,279 shares of the financial services provider’s stock after buying an additional 5,961 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Prudential Financial were worth $2,456,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in PRU. AQR Capital Management LLC lifted its holdings in shares of Prudential Financial by 97.4% in the second quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock valued at $84,874,000 after purchasing an additional 357,300 shares in the last quarter. Swedbank AB purchased a new stake in Prudential Financial in the 1st quarter valued at $35,855,000. Legal & General Group Plc lifted its stake in Prudential Financial by 9.4% during the 2nd quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock valued at $415,134,000 after acquiring an additional 305,143 shares in the last quarter. OFI Invest Asset Management grew its stake in shares of Prudential Financial by 10,529.7% in the 2nd quarter. OFI Invest Asset Management now owns 155,513 shares of the financial services provider’s stock worth $17,004,000 after acquiring an additional 154,050 shares in the last quarter. Finally, Cullinan Associates Inc. raised its holdings in shares of Prudential Financial by 2,355.0% in the first quarter. Cullinan Associates Inc. now owns 151,598 shares of the financial services provider’s stock valued at $17,798,000 after purchasing an additional 145,423 shares during the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PRU shares. Bank of America upped their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. UBS Group lifted their price target on Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Jefferies Financial Group reduced their price objective on Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Barclays assumed coverage on Prudential Financial in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $118.00 price objective on the stock. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $121.00 target price on shares of Prudential Financial in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $123.69.

Prudential Financial Trading Up 0.1 %

NYSE PRU opened at $125.64 on Wednesday. The firm has a market cap of $45.10 billion, a PE ratio of 21.37, a price-to-earnings-growth ratio of 0.97 and a beta of 1.30. Prudential Financial, Inc. has a 1-year low of $87.95 and a 1-year high of $128.52. The stock has a 50-day moving average of $119.51 and a 200-day moving average of $117.64. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65.

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

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend was Tuesday, August 20th. Prudential Financial’s dividend payout ratio (DPR) is 88.44%.

Insider Activity at Prudential Financial

In other 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 transaction of $322,027.77. Following the transaction, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Prudential Financial news, EVP Ann M. Kappler sold 2,839 shares of the company’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 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were purchased at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the transaction, the insider now directly owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.31% of the stock is owned by company insiders.

About Prudential Financial

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.