Cwm LLC Has $1.14 Million Stake in Prudential Financial, Inc. (NYSE:PRU)

Cwm LLC raised its position in Prudential Financial, Inc. (NYSE:PRU) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,977 shares of the financial services provider’s stock after purchasing an additional 480 shares during the quarter. Cwm LLC’s holdings in Prudential Financial were worth $1,138,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC raised its stake in shares of Prudential Financial by 2.9% in the 3rd quarter. FMR LLC now owns 1,315,215 shares of the financial services provider’s stock valued at $124,801,000 after purchasing an additional 36,599 shares during the period. Tyche Wealth Partners LLC bought a new position in shares of Prudential Financial in the 4th quarter valued at about $815,000. Arvest Investments Inc. bought a new position in shares of Prudential Financial in the 4th quarter valued at about $2,112,000. Victory Capital Management Inc. grew its holdings in shares of Prudential Financial by 14.5% in the 3rd quarter. Victory Capital Management Inc. now owns 268,728 shares of the financial services provider’s stock valued at $25,500,000 after acquiring an additional 34,054 shares in the last quarter. Finally, AustralianSuper Pty Ltd grew its holdings in shares of Prudential Financial by 17.2% in the 4th quarter. AustralianSuper Pty Ltd now owns 868,535 shares of the financial services provider’s stock valued at $90,076,000 after acquiring an additional 127,772 shares in the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Down 0.6 %

NYSE PRU opened at $110.50 on Friday. The business has a fifty day moving average price of $111.75 and a two-hundred day moving average price of $103.80. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.13. Prudential Financial, Inc. has a fifty-two week low of $77.22 and a fifty-two week high of $118.69. The stock has a market capitalization of $39.67 billion, a PE ratio of 16.52, a PEG ratio of 0.75 and a beta of 1.37.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $2.58 EPS for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.09). Prudential Financial had a net margin of 4.89% and a return on equity of 14.52%. The firm had revenue of $13.02 billion during the quarter, compared to the consensus estimate of $12.99 billion. During the same quarter in the previous year, the company posted $2.42 earnings per share. The firm’s revenue was up 6.7% on a year-over-year basis. Equities analysts expect that Prudential Financial, Inc. will post 13.38 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.71%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.25. The ex-dividend date was Friday, February 16th. Prudential Financial’s dividend payout ratio is presently 77.73%.

Insider Activity

In other news, EVP Ann M. Kappler sold 7,222 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total value of $782,792.58. Following the completion of the transaction, the executive vice president now directly owns 24,381 shares in the company, valued at approximately $2,642,656.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Andrew F. Sullivan sold 7,685 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $111.57, for a total value of $857,415.45. Following the completion of the sale, the executive vice president now directly owns 13,691 shares in the company, valued at $1,527,504.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann M. Kappler sold 7,222 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $108.39, for a total value of $782,792.58. Following the completion of the sale, the executive vice president now owns 24,381 shares of the company’s stock, valued at $2,642,656.59. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,255 shares of company stock worth $3,215,664. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PRU shares. Wells Fargo & Company raised their price objective on Prudential Financial from $100.00 to $106.00 and gave the company an “underweight” rating in a report on Thursday, April 11th. Evercore ISI raised their price objective on Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a report on Thursday. Raymond James cut Prudential Financial from a “strong-buy” rating to a “market perform” rating in a report on Friday, February 9th. Piper Sandler lifted their price target on shares of Prudential Financial from $114.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Finally, TheStreet upgraded shares of Prudential Financial from a “c+” rating to an “a-” rating in a research report on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Prudential Financial presently has an average rating of “Hold” and an average target price of $111.42.

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.