CVA Family Office LLC Increases Position in Prudential Financial, Inc. $PRU

CVA Family Office LLC lifted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 11.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,300 shares of the financial services provider’s stock after purchasing an additional 129 shares during the period. CVA Family Office LLC’s holdings in Prudential Financial were worth $140,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PRU. Meeder Asset Management Inc. lifted its holdings in Prudential Financial by 90.2% during the 1st quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock worth $26,000 after buying an additional 111 shares during the last quarter. Cheviot Value Management LLC acquired a new stake in shares of Prudential Financial during the 1st quarter worth about $26,000. North Capital Inc. purchased a new stake in Prudential Financial during the first quarter worth approximately $28,000. AlphaQuest LLC increased its stake in Prudential Financial by 12,250.0% in the first quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 245 shares during the last quarter. Finally, Clearstead Trust LLC raised its holdings in Prudential Financial by 350.8% during the first quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 207 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PRU. Wall Street Zen upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Wells Fargo & Company decreased their price objective on shares of Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 16th. Morgan Stanley lifted their target price on Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Piper Sandler reduced their target price on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating for the company in a report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. raised their price target on Prudential Financial from $126.00 to $136.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $122.27.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the company’s stock in a transaction 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 transaction, the executive vice president owned 21,506 shares in the company, valued at approximately $2,358,132.90. This represents a 15.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Prudential Financial Price Performance

Shares of PRU opened at $102.23 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. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55. The firm has a 50-day simple moving average of $104.68 and a 200-day simple moving average of $104.27. The company has a market capitalization of $35.99 billion, a price-to-earnings ratio of 22.67, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04.

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. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%.The firm had revenue of $8.35 billion during the quarter. On average, equities research analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Tuesday, August 19th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date was Tuesday, August 19th. Prudential Financial’s dividend payout ratio (DPR) is 119.73%.

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.