AlphaQuest LLC Purchases 245 Shares of Prudential Financial, Inc. $PRU

AlphaQuest LLC raised its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 12,250.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 247 shares of the financial services provider’s stock after buying an additional 245 shares during the quarter. AlphaQuest LLC’s holdings in Prudential Financial were worth $28,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PRU. Brighton Jones LLC grew its position in Prudential Financial by 3.7% during the fourth quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock worth $436,000 after buying an additional 133 shares in the last quarter. Captrust Financial Advisors grew its position in Prudential Financial by 7.0% during the fourth quarter. Captrust Financial Advisors now owns 32,518 shares of the financial services provider’s stock worth $3,854,000 after buying an additional 2,116 shares in the last quarter. EP Wealth Advisors LLC grew its position in Prudential Financial by 12.6% during the fourth quarter. EP Wealth Advisors LLC now owns 7,642 shares of the financial services provider’s stock worth $906,000 after buying an additional 855 shares in the last quarter. First Manhattan CO. LLC. grew its position in Prudential Financial by 59.3% during the fourth quarter. First Manhattan CO. LLC. now owns 3,704 shares of the financial services provider’s stock worth $439,000 after buying an additional 1,379 shares in the last quarter. Finally, Fiduciary Trust Co grew its position in Prudential Financial by 50.2% during the fourth quarter. Fiduciary Trust Co now owns 3,123 shares of the financial services provider’s stock worth $370,000 after buying an additional 1,044 shares in the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of the company’s stock in a transaction on Monday, June 16th. The stock was acquired at an average price of $28.64 per share, for a total transaction of $48,000,009.92. Following the acquisition, the insider owned 3,168,461 shares in the company, valued at $90,744,723.04. This represents a 112.29% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Ann M. Kappler sold 4,000 shares of the stock in a transaction that occurred 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 approximately $2,358,132.90. This trade represents a 15.68% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Prudential Financial Trading Down 3.0%

Shares of PRU stock opened at $105.62 on Friday. The stock has a market capitalization of $37.18 billion, a PE ratio of 23.42, a P/E/G ratio of 0.97 and a beta of 1.07. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55. The business has a 50-day moving average of $105.88 and a 200 day moving average of $105.69. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, July 30th. The financial services provider reported $3.58 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.36. The company had revenue of $13.50 billion during the quarter, compared to analysts’ expectations of $13.47 billion. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%.Prudential Financial’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $3.39 EPS. As a group, sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th will be issued a $1.35 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $5.40 annualized dividend and a yield of 5.1%. Prudential Financial’s dividend payout ratio (DPR) is 119.73%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Wall Street Zen upgraded Prudential Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Barclays lifted their price target on Prudential Financial from $119.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. lifted their price target on Prudential Financial from $126.00 to $136.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. Piper Sandler dropped their price target 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, Wells Fargo & Company dropped their price target on Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $122.08.

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.