Chevy Chase Trust Holdings LLC Has $20.10 Million Position in Prudential Financial, Inc. $PRU

Chevy Chase Trust Holdings LLC grew its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 0.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 187,104 shares of the financial services provider’s stock after acquiring an additional 1,325 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Prudential Financial worth $20,102,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Proffitt & Goodson Inc. boosted its position in shares of Prudential Financial by 12.7% during the 2nd quarter. Proffitt & Goodson Inc. now owns 871 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 98 shares in the last quarter. SPC Financial Inc. boosted its position in shares of Prudential Financial by 2.6% during the 1st quarter. SPC Financial Inc. now owns 3,973 shares of the financial services provider’s stock worth $444,000 after purchasing an additional 100 shares in the last quarter. Thrive Wealth Management LLC boosted its position in shares of Prudential Financial by 2.6% during the 2nd quarter. Thrive Wealth Management LLC now owns 4,007 shares of the financial services provider’s stock worth $430,000 after purchasing an additional 101 shares in the last quarter. Eagle Capital Management LLC boosted its position in shares of Prudential Financial by 0.3% during the 2nd quarter. Eagle Capital Management LLC now owns 35,806 shares of the financial services provider’s stock worth $3,847,000 after purchasing an additional 108 shares in the last quarter. Finally, Principle Wealth Partners LLC boosted its position in shares of Prudential Financial by 0.3% during the 1st quarter. Principle Wealth Partners LLC now owns 42,294 shares of the financial services provider’s stock worth $4,723,000 after purchasing an additional 109 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Up 0.9%

NYSE:PRU opened at $100.76 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market cap of $35.47 billion, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 0.89 and a beta of 1.04. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55. The firm has a 50-day moving average price of $105.06 and a two-hundred day moving average price of $104.11.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 EPS for the quarter. The firm had revenue of $8.35 billion during the quarter. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. On average, equities analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th were paid a $1.35 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $5.40 annualized dividend and a yield of 5.4%. Prudential Financial’s dividend payout ratio (DPR) is 119.73%.

Insider Activity

In other news, EVP Ann M. Kappler sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the sale, the executive vice president owned 21,506 shares in the company, valued at $2,358,132.90. This trade represents a 15.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company cut their price objective on shares of Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 16th. JPMorgan Chase & Co. raised their price target on shares of Prudential Financial from $126.00 to $136.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. Wall Street Zen raised shares of Prudential Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Wolfe Research assumed coverage on shares of Prudential Financial in a research report on Tuesday, September 16th. They issued a “peer perform” rating on the stock. Finally, Morgan Stanley raised their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $122.27.

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.