Banco Santander S.A. Has $643,000 Stake in Prudential Financial, Inc. (NYSE:PRU)

Banco Santander S.A. increased its position in Prudential Financial, Inc. (NYSE:PRU) by 12.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 5,313 shares of the financial services provider’s stock after acquiring an additional 586 shares during the period. Banco Santander S.A.’s holdings in Prudential Financial were worth $643,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Creekmur Asset Management LLC raised its holdings in shares of 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 in the last quarter. Lynx Investment Advisory acquired a new stake in shares of Prudential Financial in the second quarter worth about $29,000. Ashton Thomas Securities LLC acquired a new position in shares of Prudential Financial during the 3rd quarter valued at about $31,000. Strategic Financial Concepts LLC raised its stake in shares of Prudential Financial by 1,312.4% in the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 25,027 shares in the last quarter. Finally, Bank & Trust Co acquired a new stake in Prudential Financial in the 2nd quarter worth approximately $37,000. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Up 1.3 %

Shares of PRU opened at $127.92 on Friday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average price of $123.30 and a two-hundred day moving average price of $119.70. The stock has a market cap of $45.54 billion, a price-to-earnings ratio of 11.37, a P/E/G ratio of 0.90 and a beta of 1.29. Prudential Financial, Inc. has a 12 month low of $94.92 and a 12 month high of $129.13.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating the consensus estimate of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The business had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the previous year, the firm earned $3.44 EPS. Equities analysts predict that Prudential Financial, Inc. will post 13.33 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date is Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is currently 46.22%.

Analyst Upgrades and Downgrades

PRU has been the topic of several analyst reports. Wells Fargo & Company increased their price target on Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Morgan Stanley dropped their target price on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Argus upgraded shares of Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Barclays lifted their price objective on Prudential Financial from $118.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Finally, Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and raised their target price for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Eleven research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and a consensus target price of $125.69.

Insider Transactions at Prudential Financial

In other news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the sale, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. This trade represents a 9.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was purchased at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the acquisition, the insider now owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. The trade was a 6.61 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.31% of the stock is owned by company insiders.

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.