Sumitomo Life Insurance Co. Purchases 200 Shares of Prudential Financial, Inc. (NYSE:PRU)

Sumitomo Life Insurance Co. raised its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.8% during the third quarter, Holdings Channel.com reports. The fund owned 7,391 shares of the financial services provider’s stock after buying an additional 200 shares during the period. Sumitomo Life Insurance Co.’s holdings in Prudential Financial were worth $895,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Creekmur Asset Management LLC raised its stake in Prudential Financial by 78.8% during the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 108 shares during the period. Lynx Investment Advisory bought a new stake in shares of Prudential Financial during the second quarter valued at approximately $29,000. Crewe Advisors LLC purchased a new position in shares of Prudential Financial in the first quarter worth $33,000. ESL Trust Services LLC bought a new position in shares of Prudential Financial during the first quarter worth $34,000. Finally, Riverview Trust Co purchased a new position in Prudential Financial during the first quarter valued at $37,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Price Performance

PRU stock opened at $127.03 on Thursday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. Prudential Financial, Inc. has a 12 month low of $87.95 and a 12 month high of $128.52. The stock has a market cap of $45.60 billion, a PE ratio of 21.60, a P/E/G ratio of 0.97 and a beta of 1.30. The company has a 50-day moving average price of $118.11 and a 200 day moving average price of $117.34.

Prudential Financial (NYSE:PRU) last released its earnings results on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). Prudential Financial had a net margin of 4.86% and a return on equity of 16.00%. The business had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Equities research analysts anticipate that Prudential Financial, Inc. will post 13.28 earnings per share for the current year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th were paid a $1.30 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.09%. Prudential Financial’s payout ratio is 88.44%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. UBS Group increased their price objective on shares of Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Bank of America raised their price target on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. upped their price objective on Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. Jefferies Financial Group cut their target price on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a report on Friday, June 28th. Finally, TD Cowen began coverage on shares of Prudential Financial in a research note on Wednesday, October 9th. They set a “hold” rating and a $130.00 price target on the stock. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $123.69.

Insider Activity

In related news, EVP Ann M. Kappler sold 2,839 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the transaction, the executive vice president now owns 14,535 shares of the company’s stock, valued at $1,648,705.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were acquired at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the transaction, the insider now owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the sale, the executive vice president now owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

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.