Prudential Financial, Inc. $PRU Shares Purchased by Cwm LLC

Cwm LLC boosted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 56.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,965 shares of the financial services provider’s stock after acquiring an additional 8,989 shares during the quarter. Cwm LLC’s holdings in Prudential Financial were worth $2,682,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. increased its position in Prudential Financial by 90.2% in the 1st quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 111 shares during the period. AlphaQuest LLC increased its position in shares of Prudential Financial by 12,250.0% during the 1st 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 period. North Capital Inc. acquired a new position in shares of Prudential Financial during the 1st quarter valued at $28,000. Cheviot Value Management LLC acquired a new position in shares of Prudential Financial during the 1st quarter valued at $26,000. Finally, Clearstead Trust LLC increased its position in shares of Prudential Financial by 350.8% during the 1st quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 207 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PRU shares. Wolfe Research started coverage on Prudential Financial in a research report on Tuesday, September 16th. They set a “peer perform” rating on the stock. Barclays lowered their price target on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Wells Fargo & Company lowered their price target on 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. Piper Sandler reduced their price objective on Prudential Financial from $109.00 to $108.00 and set a “neutral” rating for the company in a research note on Wednesday, July 16th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Prudential Financial in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $122.27.

Prudential Financial Stock Performance

PRU opened at $100.76 on Friday. The firm has a market cap of $35.47 billion, a PE ratio of 22.34, a P/E/G ratio of 0.89 and a beta of 1.04. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60. The business has a fifty day simple moving average of $105.06 and a 200-day simple moving average of $104.11. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55.

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

Prudential Financial Announces Dividend

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

Insider Activity at Prudential Financial

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