Chesapeake Capital Corp IL Raises Position in Prudential Financial, Inc. $PRU

Chesapeake Capital Corp IL raised its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 350.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,606 shares of the financial services provider’s stock after acquiring an additional 7,472 shares during the quarter. Prudential Financial makes up 0.9% of Chesapeake Capital Corp IL’s portfolio, making the stock its 29th largest holding. Chesapeake Capital Corp IL’s holdings in Prudential Financial were worth $1,084,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PRU. Salomon & Ludwin LLC boosted its stake in shares of Prudential Financial by 98.3% during the 4th quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 114 shares during the last quarter. Lodestone Wealth Management LLC purchased a new position in shares of Prudential Financial during the 4th quarter worth $28,000. Coston McIsaac & Partners boosted its stake in shares of Prudential Financial by 93.4% during the 4th quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 128 shares during the last quarter. Wealth Watch Advisors INC purchased a new position in shares of Prudential Financial during the 3rd quarter worth $30,000. Finally, Dunhill Financial LLC boosted its stake in shares of Prudential Financial by 982.8% during the 4th quarter. Dunhill Financial LLC now owns 314 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 285 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Transactions at Prudential Financial

In other Prudential Financial news, Director Thomas D. Stoddard bought 250 shares of Prudential Financial stock in a transaction dated Tuesday, February 17th. The shares were purchased at an average cost of $102.97 per share, for a total transaction of $25,742.50. Following the acquisition, the director directly owned 250 shares in the company, valued at approximately $25,742.50. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Joseph J. Wolk bought 400 shares of Prudential Financial stock in a transaction dated Wednesday, February 11th. The stock was acquired at an average price of $105.32 per share, for a total transaction of $42,128.00. Following the completion of the acquisition, the director owned 400 shares in the company, valued at approximately $42,128. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.05% of the company’s stock.

Prudential Financial Stock Performance

Shares of NYSE PRU opened at $100.76 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market cap of $34.96 billion, a P/E ratio of 10.37, a P/E/G ratio of 1.81 and a beta of 0.86. The firm’s fifty day moving average is $96.87 and its two-hundred day moving average is $104.57. Prudential Financial, Inc. has a 52-week low of $91.89 and a 52-week high of $119.76.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.52. The company had revenue of $15.23 billion for the quarter, compared to the consensus estimate of $14.10 billion. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. During the same period in the previous year, the firm posted $3.29 EPS. As a group, analysts anticipate that Prudential Financial, Inc. will post 13.66 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PRU. Jefferies Financial Group cut shares of Prudential Financial from a “buy” rating to a “hold” rating and dropped their price target for the stock from $124.00 to $98.00 in a research note on Wednesday, April 22nd. Bank of America lowered their target price on shares of Prudential Financial from $112.00 to $104.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. UBS Group lowered their target price on shares of Prudential Financial from $105.00 to $98.00 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. Evercore restated a “negative” rating on shares of Prudential Financial in a research note on Friday, March 6th. Finally, Wall Street Zen cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Nine equities research analysts have rated the stock with a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $99.92.

Prudential Financial Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.