Prudential Financial, Inc. (NYSE:PRU) Shares Acquired by Cwm LLC

Cwm LLC boosted its stake in Prudential Financial, Inc. (NYSE:PRU) by 7.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 14,013 shares of the financial services provider’s stock after purchasing an additional 977 shares during the period. Cwm LLC’s holdings in Prudential Financial were worth $1,697,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PRU. Legal & General Group Plc increased its holdings in shares of Prudential Financial by 9.4% in the second quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock valued at $415,134,000 after purchasing an additional 305,143 shares during the period. AustralianSuper Pty Ltd raised its position in Prudential Financial by 2.8% during the 2nd quarter. AustralianSuper Pty Ltd now owns 1,237,537 shares of the financial services provider’s stock worth $145,027,000 after buying an additional 34,160 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Prudential Financial by 8.8% in the 2nd quarter. Federated Hermes Inc. now owns 1,025,527 shares of the financial services provider’s stock worth $120,181,000 after acquiring an additional 82,620 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Prudential Financial by 7.2% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 926,641 shares of the financial services provider’s stock valued at $108,788,000 after acquiring an additional 62,578 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Prudential Financial by 97.4% during the second quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock worth $84,874,000 after acquiring an additional 357,300 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Prudential Financial

In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the business’s 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 transaction, the executive vice president now directly owns 10,175 shares in the company, valued at approximately $1,220,694.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the sale, the executive vice president now owns 10,175 shares in the company, valued at $1,220,694.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction dated Wednesday, August 21st. The stock was 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 in the company, valued at $1,648,705.05. This trade represents 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.

Prudential Financial Trading Up 0.5 %

Shares of Prudential Financial stock opened at $125.85 on Wednesday. The business has a 50 day moving average price of $117.70 and a 200 day moving average price of $117.27. The company has a market capitalization of $45.18 billion, a P/E ratio of 21.40, a P/E/G ratio of 0.97 and a beta of 1.30. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. Prudential Financial, Inc. has a 1 year low of $87.95 and a 1 year high of $128.52.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data 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 company had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Sell-side analysts anticipate that Prudential Financial, Inc. will post 13.28 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date was Tuesday, August 20th. Prudential Financial’s dividend payout ratio is presently 88.44%.

Analysts Set New Price Targets

A number of brokerages have weighed in on PRU. Jefferies Financial Group lowered their price objective on Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a report on Friday, June 28th. TD Cowen began coverage on Prudential Financial in a report on Wednesday, October 9th. They set a “hold” rating and a $130.00 price objective on the stock. Argus raised Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Wells Fargo & Company upped their price target on shares of Prudential Financial from $113.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $121.00 price objective on shares of Prudential Financial in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Prudential Financial has an average rating of “Hold” and a consensus price target of $123.69.

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.