Security National Bank of SO Dak Buys 825 Shares of Prudential Financial Inc (NYSE:PRU)

Security National Bank of SO Dak grew its stake in shares of Prudential Financial Inc (NYSE:PRU) by 10.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 8,709 shares of the financial services provider’s stock after purchasing an additional 825 shares during the quarter. Security National Bank of SO Dak’s holdings in Prudential Financial were worth $880,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Prudential Financial by 1.0% during the second quarter. Vanguard Group Inc. now owns 32,659,263 shares of the financial services provider’s stock valued at $3,298,586,000 after buying an additional 324,451 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Prudential Financial by 6.2% in the second quarter. BlackRock Inc. now owns 31,395,669 shares of the financial services provider’s stock valued at $3,170,962,000 after purchasing an additional 1,840,652 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Prudential Financial by 0.5% in the second quarter. Northern Trust Corp now owns 5,176,780 shares of the financial services provider’s stock valued at $522,855,000 after purchasing an additional 27,620 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Prudential Financial by 72.7% in the second quarter. Invesco Ltd. now owns 3,825,999 shares of the financial services provider’s stock valued at $386,426,000 after purchasing an additional 1,610,600 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Prudential Financial by 3.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,190,377 shares of the financial services provider’s stock valued at $322,229,000 after purchasing an additional 104,015 shares in the last quarter. Hedge funds and other institutional investors own 63.19% of the company’s stock.

A number of research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Prudential Financial from a “sell” rating to a “hold” rating and set a $89.00 target price for the company in a report on Tuesday, September 10th. Atlantic Securities lowered shares of Prudential Financial from an “overweight” rating to a “neutral” rating in a research note on Thursday, August 8th. UBS Group lifted their price objective on shares of Prudential Financial from $83.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. ValuEngine lowered shares of Prudential Financial from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Co set a $115.00 price objective on shares of Prudential Financial and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $100.50.

In related news, CFO Kenneth Tanji bought 2,500 shares of the stock in a transaction dated Monday, September 9th. The stock was purchased at an average cost of $83.84 per share, with a total value of $209,600.00. Following the completion of the purchase, the chief financial officer now owns 19,285 shares of the company’s stock, valued at $1,616,854.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Robert Falzon bought 3,580 shares of the stock in a transaction dated Monday, September 9th. The shares were bought at an average cost of $83.98 per share, with a total value of $300,648.40. Following the completion of the purchase, the executive vice president now directly owns 64,228 shares of the company’s stock, valued at approximately $5,393,867.44. The disclosure for this purchase can be found here. Insiders have bought 13,580 shares of company stock valued at $1,137,848 over the last three months. Insiders own 0.76% of the company’s stock.

Shares of PRU traded up $0.57 during trading hours on Friday, reaching $89.58. 1,412,469 shares of the company traded hands, compared to its average volume of 2,256,291. The firm has a market cap of $35.49 billion, a price-to-earnings ratio of 7.66, a PEG ratio of 0.79 and a beta of 1.55. Prudential Financial Inc has a 12-month low of $75.61 and a 12-month high of $106.64. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.29. The stock’s fifty day moving average price is $84.05 and its 200 day moving average price is $95.30.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.22 by ($0.08). The company had revenue of $14.11 billion for the quarter, compared to analysts’ expectations of $13.63 billion. Prudential Financial had a net margin of 6.92% and a return on equity of 9.24%. During the same period in the prior year, the firm posted $3.01 earnings per share. On average, research analysts forecast that Prudential Financial Inc will post 12.37 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date was Monday, August 19th. Prudential Financial’s dividend payout ratio is currently 34.22%.

About Prudential Financial

Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.

Further Reading: Hedge Funds – Risk or Reward?

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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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