Prudential Financial, Inc. $PRU Shares Acquired by Mattson Financial Services LLC

Mattson Financial Services LLC boosted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 312.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,119 shares of the financial services provider’s stock after purchasing an additional 9,183 shares during the quarter. Mattson Financial Services LLC’s holdings in Prudential Financial were worth $1,257,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PRU. Vanguard Group Inc. grew its position in shares of Prudential Financial by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 42,502,160 shares of the financial services provider’s stock valued at $4,566,432,000 after buying an additional 600,482 shares during the last quarter. Geode Capital Management LLC boosted its stake in Prudential Financial by 1.8% in the second quarter. Geode Capital Management LLC now owns 9,402,393 shares of the financial services provider’s stock valued at $1,010,474,000 after acquiring an additional 163,874 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Prudential Financial by 1.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,408,942 shares of the financial services provider’s stock valued at $258,817,000 after purchasing an additional 31,088 shares during the last quarter. Amundi raised its position in shares of Prudential Financial by 14.1% during the 1st quarter. Amundi now owns 1,751,633 shares of the financial services provider’s stock worth $183,571,000 after purchasing an additional 216,119 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in shares of 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 purchasing an additional 567,571 shares during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Trading Down 0.5%

Shares of NYSE:PRU opened at $113.96 on Monday. The company has a 50 day moving average of $108.32 and a 200-day moving average of $106.14. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The firm has a market cap of $39.89 billion, a P/E ratio of 15.65, a P/E/G ratio of 0.93 and a beta of 0.97. Prudential Financial, Inc. has a twelve month low of $90.38 and a twelve month high of $123.88.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 EPS for the quarter. The firm had revenue of $8.35 billion for the quarter. Prudential Financial had a return on equity of 16.60% and a net margin of 4.65%. As a group, analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Tuesday, November 18th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend was Tuesday, November 18th. Prudential Financial’s payout ratio is presently 74.18%.

Analyst Ratings Changes

PRU has been the topic of several analyst reports. Keefe, Bruyette & Woods increased their target price on Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a research report on Monday, November 3rd. Wall Street Zen raised shares of Prudential Financial from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Wolfe Research started coverage on shares of Prudential Financial in a research note on Tuesday, September 16th. They set a “peer perform” rating for the company. Mizuho began coverage on shares of Prudential Financial in a research note on Tuesday, December 16th. They issued a “neutral” rating and a $125.00 price target on the stock. Finally, Barclays reduced their price objective on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 8th. Eleven equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $118.00.

Insiders Place Their Bets

In other Prudential Financial news, SVP Timothy L. Schmidt sold 8,000 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $107.69, for a total value of $861,520.00. Following the completion of the sale, the senior vice president directly owned 11,535 shares of the company’s stock, valued at approximately $1,242,204.15. This represents a 40.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Charles F. Lowrey sold 48,164 shares of the firm’s stock in a transaction dated 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 transaction, the chairman owned 165,564 shares of the company’s stock, valued at approximately $17,779,917.96. This trade represents a 22.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 62,719 shares of company stock worth $6,796,067. 0.25% of the stock is owned by corporate insiders.

Prudential Financial Company Profile

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.