E. Ohman J or Asset Management AB Has $1.83 Million Stake in Prudential Financial, Inc. (NYSE:PRU)

E. Ohman J or Asset Management AB decreased its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 7.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 15,123 shares of the financial services provider’s stock after selling 1,300 shares during the period. E. Ohman J or Asset Management AB’s holdings in Prudential Financial were worth $1,831,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Mainstay Capital Management LLC ADV increased its holdings in shares of Prudential Financial by 7.8% during the 3rd quarter. Mainstay Capital Management LLC ADV now owns 18,513 shares of the financial services provider’s stock valued at $2,242,000 after acquiring an additional 1,336 shares during the last quarter. IFM Investors Pty Ltd grew its holdings in Prudential Financial by 0.3% in the 3rd quarter. IFM Investors Pty Ltd now owns 82,144 shares of the financial services provider’s stock valued at $9,948,000 after buying an additional 213 shares during the last quarter. Moody Aldrich Partners LLC acquired a new stake in Prudential Financial in the 3rd quarter valued at approximately $341,000. Impact Partnership Wealth LLC grew its holdings in Prudential Financial by 84.8% in the 3rd quarter. Impact Partnership Wealth LLC now owns 10,721 shares of the financial services provider’s stock valued at $1,298,000 after buying an additional 4,920 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in Prudential Financial by 4,130.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock valued at $157,219,000 after buying an additional 1,267,571 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Buying and Selling

In related news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the sale, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was 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 directly owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. The trade was a 0.00 % decrease in their ownership of the stock. 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 bought 261,059 shares of the firm’s stock in a transaction on Tuesday, October 8th. The stock was acquired at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the purchase, the insider now owns 4,208,549 shares of the company’s stock, valued at approximately $116,071,781.42. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.31% of the stock is owned by insiders.

Prudential Financial Stock Down 1.5 %

NYSE PRU opened at $123.46 on Friday. The stock has a fifty day moving average of $120.03 and a 200-day moving average of $117.74. The stock has a market capitalization of $44.08 billion, a P/E ratio of 15.87, a price-to-earnings-growth ratio of 0.96 and a beta of 1.30. Prudential Financial, Inc. has a 52 week low of $87.95 and a 52 week high of $128.52. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13.

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

Prudential Financial Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.21%. Prudential Financial’s dividend payout ratio (DPR) is presently 66.84%.

Analysts Set New Price Targets

PRU has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price objective on Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. Jefferies Financial Group decreased their price objective on Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a report on Friday, June 28th. TD Cowen assumed coverage on Prudential Financial in a research report on Wednesday, October 9th. They issued a “hold” rating and a $130.00 price objective for the company. Wells Fargo & Company lifted their price objective on Prudential Financial from $113.00 to $116.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Finally, Bank of America lifted their price objective on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $123.69.

Prudential Financial 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.