Prudential Financial, Inc. (NYSE:PRU) Stake Boosted by Cable Hill Partners LLC

Cable Hill Partners LLC boosted its position in Prudential Financial, Inc. (NYSE:PRU) by 8.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,092 shares of the financial services provider’s stock after acquiring an additional 167 shares during the quarter. Cable Hill Partners LLC’s holdings in Prudential Financial were worth $253,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. MQS Management LLC acquired a new position in shares of Prudential Financial in the 3rd quarter worth approximately $548,000. Community Bank & Trust Waco Texas boosted its holdings in shares of Prudential Financial by 19.3% in the 3rd quarter. Community Bank & Trust Waco Texas now owns 45,860 shares of the financial services provider’s stock worth $5,554,000 after acquiring an additional 7,423 shares in the last quarter. Aptus Capital Advisors LLC grew its position in Prudential Financial by 5.2% during the 3rd quarter. Aptus Capital Advisors LLC now owns 5,527 shares of the financial services provider’s stock worth $669,000 after acquiring an additional 275 shares during the last quarter. Commonwealth Retirement Investments LLC raised its position in Prudential Financial by 2.6% in the 3rd quarter. Commonwealth Retirement Investments LLC now owns 14,151 shares of the financial services provider’s stock valued at $1,714,000 after purchasing an additional 353 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Prudential Financial by 0.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 797,604 shares of the financial services provider’s stock worth $96,590,000 after purchasing an additional 3,000 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Prudential Financial

In other news, EVP Caroline Feeney sold 1,110 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the transaction, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The trade was a 9.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ann M. Kappler sold 2,839 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the sale, the executive vice president now directly owns 14,535 shares of the company’s stock, valued at $1,648,705.05. This represents a 16.34 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Prudential Financial Trading Up 0.4 %

Shares of NYSE PRU opened at $125.75 on Friday. The stock has a market cap of $44.77 billion, a P/E ratio of 11.18, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. The firm has a 50 day moving average price of $121.76 and a two-hundred day moving average price of $119.06. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. Prudential Financial, Inc. has a 52-week low of $93.32 and a 52-week high of $129.13.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.01. The company had revenue of $19.48 billion during the quarter, compared to analysts’ expectations of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter in the prior year, the firm posted $3.44 earnings per share. As a group, equities analysts forecast that Prudential Financial, Inc. will post 13.33 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

Wall Street Analyst Weigh In

Several research firms have recently commented on PRU. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $121.00 price target on shares of Prudential Financial in a research note on Wednesday, August 21st. Citigroup upped their price target on shares of Prudential Financial from $104.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and upped their target price for the stock from $117.00 to $140.00 in a research note on Thursday. UBS Group upped their price objective on Prudential Financial from $112.00 to $119.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Finally, Wells Fargo & Company upped their target price on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Eleven research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $125.69.

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.