Northwest & Ethical Investments L.P. Grows Stake in Prudential Financial, Inc. (NYSE:PRU)

Northwest & Ethical Investments L.P. boosted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 47,432 shares of the financial services provider’s stock after purchasing an additional 977 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Prudential Financial were worth $5,744,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Lynx Investment Advisory acquired a new stake in Prudential Financial in the 2nd quarter valued at about $29,000. Ashton Thomas Securities LLC acquired a new stake in shares of Prudential Financial in the third quarter valued at approximately $31,000. Strategic Financial Concepts LLC increased its stake in shares of Prudential Financial by 1,312.4% during the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 25,027 shares in the last quarter. Bank & Trust Co acquired a new position in shares of Prudential Financial during the 2nd quarter worth approximately $37,000. Finally, Hobbs Group Advisors LLC purchased a new stake in Prudential Financial in the 2nd quarter valued at approximately $38,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Up 0.3 %

Shares of NYSE PRU opened at $129.52 on Friday. The stock has a market capitalization of $46.11 billion, a PE ratio of 11.51, a P/E/G ratio of 0.93 and a beta of 1.29. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The firm has a fifty day moving average of $124.08 and a 200-day moving average of $120.03. Prudential Financial, Inc. has a 52-week low of $95.10 and a 52-week high of $130.55.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. The firm had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter in the previous year, the business earned $3.44 earnings per share. On average, analysts anticipate that Prudential Financial, Inc. will post 13.35 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be issued a $1.30 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.01%. Prudential Financial’s payout ratio is 46.22%.

Insider Buying and Selling at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of Prudential Financial stock in a transaction on Monday, November 25th. The shares were bought at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the purchase, the insider now directly owns 4,780,293 shares in the company, valued at $133,465,780.56. This trade represents a 12.66 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the firm’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 sale, the executive vice president now owns 10,175 shares in the company, valued at approximately $1,220,694.75. The trade was a 9.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. TD Cowen raised their price target on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday. Argus raised shares of Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. Wells Fargo & Company upped their target price on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Barclays lifted their price target on shares of Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Finally, Bank of America upped their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Eleven research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Prudential Financial currently has a consensus rating of “Hold” and a consensus price target of $125.92.

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.