PNC Financial Services Group Inc. Has $12.53 Million Stock Position in Prudential Financial, Inc. $PRU

PNC Financial Services Group Inc. increased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,595 shares of the financial services provider’s stock after acquiring an additional 2,174 shares during the period. PNC Financial Services Group Inc.’s holdings in Prudential Financial were worth $12,527,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Nuveen LLC purchased a new stake in shares of Prudential Financial in the first quarter worth approximately $90,010,000. Goldman Sachs Group Inc. grew its holdings in Prudential Financial by 19.2% during the first quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider’s stock worth $469,777,000 after buying an additional 678,028 shares in the last quarter. Nordea Investment Management AB raised its position in Prudential Financial by 49.2% in the 2nd quarter. Nordea Investment Management AB now owns 1,720,781 shares of the financial services provider’s stock valued at $184,192,000 after buying an additional 567,571 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Prudential Financial during the 2nd quarter worth $28,579,000. Finally, Amundi grew its stake in shares of Prudential Financial by 14.1% in the 1st quarter. Amundi now owns 1,751,633 shares of the financial services provider’s stock worth $183,571,000 after acquiring an additional 216,119 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Evercore ISI raised their price target on shares of Prudential Financial from $120.00 to $122.00 and gave the company an “in-line” rating in a research report on Thursday, October 30th. Wall Street Zen upgraded Prudential Financial from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Prudential Financial in a research report on Thursday. Morgan Stanley boosted their price objective on Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Finally, Wolfe Research initiated coverage on Prudential Financial in a research report on Tuesday, September 16th. They set a “peer perform” rating for the company. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Prudential Financial has an average rating of “Hold” and a consensus target price of $120.73.

Prudential Financial Trading Down 0.7%

NYSE:PRU opened at $107.12 on Friday. The company has a market cap of $37.49 billion, a P/E ratio of 14.71, a P/E/G ratio of 0.88 and a beta of 1.05. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16. The stock’s fifty day moving average price is $103.70 and its two-hundred day moving average price is $104.69.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. Prudential Financial had a return on equity of 16.98% and a net margin of 4.65%.The company had revenue of $8.35 billion for the quarter. As a group, analysts expect that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Tuesday, November 18th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Tuesday, November 18th. Prudential Financial’s dividend payout ratio (DPR) is 74.18%.

Insider Activity at Prudential Financial

In related news, Chairman Charles F. Lowrey sold 48,164 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the sale, the chairman owned 165,564 shares of the company’s stock, valued at approximately $17,779,917.96. This represents a 22.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Ann M. Kappler sold 4,000 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the sale, the executive vice president owned 21,506 shares in the company, valued at $2,358,132.90. This represents a 15.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.25% of the stock is currently owned by insiders.

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.