First National Bank of Omaha Acquires New Position in Prudential Financial, Inc. $PRU

First National Bank of Omaha acquired a new stake in Prudential Financial, Inc. (NYSE:PRU) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 93,739 shares of the financial services provider’s stock, valued at approximately $10,231,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PRU. Munich Reinsurance Co Stock Corp in Munich raised its stake in Prudential Financial by 2,669.0% in the 4th quarter. Munich Reinsurance Co Stock Corp in Munich now owns 46,990 shares of the financial services provider’s stock valued at $5,342,000 after purchasing an additional 45,293 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Prudential Financial by 9.1% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 171,486 shares of the financial services provider’s stock worth $19,357,000 after purchasing an additional 14,327 shares during the last quarter. Oxbow Advisors LLC purchased a new stake in shares of Prudential Financial during the fourth quarter worth about $6,545,000. Orca Investment Management LLC acquired a new position in shares of Prudential Financial in the second quarter valued at approximately $2,605,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Prudential Financial by 4.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 735,934 shares of the financial services provider’s stock valued at $83,801,000 after buying an additional 29,720 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on PRU. Argus cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, June 9th. Barclays increased their price target on Prudential Financial from $90.00 to $92.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 7th. Piper Sandler lifted their price objective on Prudential Financial from $110.00 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Wells Fargo & Company increased their target price on Prudential Financial from $100.00 to $103.00 and gave the stock an “underweight” rating in a research report on Thursday, July 9th. Finally, Keefe, Bruyette & Woods lifted their price target on Prudential Financial from $113.00 to $123.00 and gave the company a “market perform” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $107.77.

Prudential Financial Price Performance

PRU opened at $124.55 on Wednesday. Prudential Financial, Inc. has a 52-week low of $91.89 and a 52-week high of $127.72. The company has a 50 day moving average of $115.78 and a two-hundred day moving average of $105.44. The company has a market cap of $42.97 billion, a P/E ratio of 11.28, a P/E/G ratio of 2.38 and a beta of 0.84. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.62.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, August 4th. The financial services provider reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.52 by $0.56. The business had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.36 billion. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. During the same quarter last year, the firm posted $3.58 EPS. On average, analysts expect that Prudential Financial, Inc. will post 14.17 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Tuesday, August 25th. Prudential Financial’s payout ratio is currently 50.72%.

Insider Activity

In other news, EVP Ann M. Kappler sold 7,652 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $125.01, for a total value of $956,576.52. Following the completion of the sale, the executive vice president owned 14,407 shares of the company’s stock, valued at $1,801,019.07. This represents a 34.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $24.75, for a total value of $5,314,963.50. Following the completion of the sale, the insider owned 7,973,657 shares of the company’s stock, valued at approximately $197,348,010.75. This trade represents a 2.62% decrease in their position. The SEC filing for this sale provides additional information. 0.05% of the stock is owned by corporate insiders.

About Prudential Financial

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.