Northwest & Ethical Investments L.P. Has $4.22 Million Holdings in Prudential Financial, Inc. $PRU

Northwest & Ethical Investments L.P. raised its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 10.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,288 shares of the financial services provider’s stock after buying an additional 3,656 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Prudential Financial were worth $4,221,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Econ Financial Services Corp acquired a new stake in shares of Prudential Financial in the second quarter worth $1,662,000. Nordea Investment Management AB lifted its stake 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 worth $184,192,000 after acquiring an additional 567,571 shares in the last quarter. Brookwood Investment Group LLC acquired a new stake in Prudential Financial during the 2nd quarter worth about $289,000. Asahi Life Asset Management CO. LTD. purchased a new position in Prudential Financial during the 2nd quarter valued at about $298,000. Finally, AE Wealth Management LLC increased its holdings in shares of Prudential Financial by 30.2% in the 2nd quarter. AE Wealth Management LLC now owns 213,795 shares of the financial services provider’s stock valued at $22,970,000 after purchasing an additional 49,550 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PRU shares. Wall Street Zen upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Morgan Stanley lifted their target price on shares of Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Prudential Financial in a research note on Tuesday. Wolfe Research began coverage on Prudential Financial in a report on Tuesday, September 16th. They set a “peer perform” rating for the company. Finally, Barclays lowered their target price on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $119.50.

Prudential Financial Stock Performance

Shares of NYSE PRU opened at $108.02 on Thursday. The business’s 50-day simple moving average is $103.75 and its 200-day simple moving average is $104.85. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55. The firm has a market cap of $37.81 billion, a price-to-earnings ratio of 14.84, a P/E/G ratio of 0.88 and a beta of 1.05.

Prudential Financial (NYSE:PRU) last announced its earnings results 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 firm had revenue of $8.35 billion during the quarter. As a group, equities research analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Tuesday, November 18th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Tuesday, November 18th. Prudential Financial’s dividend payout ratio is currently 74.18%.

Insiders Place Their Bets

In related news, Chairman Charles F. Lowrey sold 48,164 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $107.39, for a total value of $5,172,331.96. Following the transaction, the chairman directly owned 165,564 shares in the company, valued at approximately $17,779,917.96. This trade represents a 22.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ann M. Kappler sold 4,000 shares of the business’s stock in a transaction 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 transaction, the executive vice president directly owned 21,506 shares of the company’s stock, valued at approximately $2,358,132.90. This represents a 15.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.25% of the company’s stock.

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.