Zurcher Kantonalbank Zurich Cantonalbank Has $28.28 Million Holdings in Prudential Financial, Inc. (NYSE:PRU)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 24.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 272,721 shares of the financial services provider’s stock after acquiring an additional 54,080 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.08% of Prudential Financial worth $28,284,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sanctuary Wealth Management L.L.C. purchased a new position in Prudential Financial during the 4th quarter valued at about $25,000. Bruce G. Allen Investments LLC purchased a new position in Prudential Financial during the 4th quarter valued at about $26,000. Headinvest LLC purchased a new position in Prudential Financial during the 3rd quarter valued at about $27,000. Pacific Center for Financial Services purchased a new position in Prudential Financial during the 1st quarter valued at about $27,000. Finally, Coppell Advisory Solutions LLC purchased a new position in Prudential Financial during the 2nd quarter valued at about $28,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Down 0.7 %

Shares of Prudential Financial stock opened at $107.59 on Wednesday. The stock has a market capitalization of $38.62 billion, a P/E ratio of 16.08, a PEG ratio of 0.73 and a beta of 1.37. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.65. The stock has a 50 day moving average price of $111.23 and a two-hundred day moving average price of $102.87. Prudential Financial, Inc. has a 12-month low of $77.22 and a 12-month high of $118.69.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $2.58 EPS for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.09). Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. The business had revenue of $13.02 billion for the quarter, compared to analyst estimates of $12.99 billion. During the same quarter last year, the firm earned $2.42 earnings per share. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. Equities analysts expect that Prudential Financial, Inc. will post 13.4 earnings per share for the current year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th were issued a dividend of $1.30 per share. The ex-dividend date was Friday, February 16th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.83%. Prudential Financial’s payout ratio is 77.73%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PRU. UBS Group boosted their price target on Prudential Financial from $108.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Wells Fargo & Company boosted their price target on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a research note on Thursday, April 11th. Morgan Stanley boosted their price target on Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a research note on Monday. Evercore ISI boosted their price target on Prudential Financial from $104.00 to $115.00 and gave the company an “underperform” rating in a research note on Thursday, April 11th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $118.00 price target (down previously from $119.00) on shares of Prudential Financial in a research note on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $111.33.

Insider Transactions at Prudential Financial

In other news, EVP Ann M. Kappler sold 7,222 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total transaction of $782,792.58. Following the completion of the transaction, the executive vice president now directly owns 24,381 shares in the company, valued at $2,642,656.59. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Ann M. Kappler sold 7,222 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total value of $782,792.58. Following the completion of the transaction, the executive vice president now directly owns 24,381 shares in the company, valued at $2,642,656.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew F. Sullivan sold 7,685 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $111.57, for a total value of $857,415.45. Following the completion of the transaction, the executive vice president now owns 13,691 shares of the company’s stock, valued at $1,527,504.87. The disclosure for this sale can be found here. Insiders sold a total of 29,255 shares of company stock worth $3,215,664 over the last three months. 0.34% of the stock is currently owned by insiders.

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.