Cwm LLC Boosts Position in Prudential Financial, Inc. (NYSE:PRU)

Cwm LLC lifted its position in Prudential Financial, Inc. (NYSE:PRU) by 7.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,013 shares of the financial services provider’s stock after purchasing an additional 977 shares during the quarter. Cwm LLC’s holdings in Prudential Financial were worth $1,697,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cullinan Associates Inc. increased its holdings in shares of Prudential Financial by 2,355.0% during the 1st quarter. Cullinan Associates Inc. now owns 151,598 shares of the financial services provider’s stock worth $17,798,000 after buying an additional 145,423 shares during the last quarter. National Bank of Canada FI lifted its stake in shares of Prudential Financial by 44.9% in the 1st quarter. National Bank of Canada FI now owns 230,044 shares of the financial services provider’s stock valued at $27,327,000 after purchasing an additional 71,274 shares during the last quarter. Nomura Holdings Inc. purchased a new position in shares of Prudential Financial during the 4th quarter worth $761,000. Brookstone Capital Management increased its position in shares of Prudential Financial by 1,635.0% during the 1st quarter. Brookstone Capital Management now owns 87,201 shares of the financial services provider’s stock worth $10,237,000 after purchasing an additional 82,175 shares during the last quarter. Finally, ORG Partners LLC acquired a new position in Prudential Financial in the second quarter valued at about $156,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PRU shares. TD Cowen assumed coverage on shares of Prudential Financial in a research note on Wednesday, October 9th. They issued a “hold” rating and a $130.00 price target on the stock. JPMorgan Chase & Co. upped their price target on Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. UBS Group lifted their price objective on Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Wells Fargo & Company increased their target price on 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, Morgan Stanley dropped their target price on Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $123.69.

Insider Transactions at Prudential Financial

In related news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total transaction of $133,166.70. Following the sale, the executive vice president now directly owns 10,175 shares in the company, valued at $1,220,694.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the transaction, the executive vice president now owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ann M. Kappler sold 2,839 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the sale, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at $1,648,705.05. The trade was 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 Price Performance

Shares of PRU opened at $125.85 on Wednesday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. The firm’s fifty day simple moving average is $117.70 and its 200-day simple moving average is $117.27. The firm has a market capitalization of $45.18 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 0.97 and a beta of 1.30. Prudential Financial, Inc. has a twelve month low of $87.95 and a twelve month high of $128.52.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. The business had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Equities analysts forecast that Prudential Financial, Inc. will post 13.28 EPS for the current fiscal year.

Prudential Financial Announces Dividend

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

Prudential Financial Company 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.