Charles Schwab Investment Management Inc. Has $258.82 Million Stock Holdings in Prudential Financial, Inc. $PRU

Charles Schwab Investment Management Inc. raised its stake in Prudential Financial, Inc. (NYSE:PRU) by 1.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,408,942 shares of the financial services provider’s stock after buying an additional 31,088 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.68% of Prudential Financial worth $258,817,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. American Century Companies Inc. raised its stake in shares of Prudential Financial by 40.0% in the 2nd quarter. American Century Companies Inc. now owns 666,008 shares of the financial services provider’s stock valued at $71,556,000 after purchasing an additional 190,245 shares during the period. Cowa LLC raised its position in Prudential Financial by 6.6% in the 2nd quarter. Cowa LLC now owns 8,404 shares of the financial services provider’s stock valued at $903,000 after buying an additional 518 shares during the last quarter. Richard W. Paul & Associates LLC boosted its position in Prudential Financial by 15.7% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 5,837 shares of the financial services provider’s stock worth $627,000 after acquiring an additional 790 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Prudential Financial by 1.6% in the second quarter. Rhumbline Advisers now owns 686,928 shares of the financial services provider’s stock valued at $73,803,000 after purchasing an additional 10,982 shares during the last quarter. Finally, AlphaCore Capital LLC bought a new stake in shares of Prudential Financial in the second quarter worth $39,000. 56.83% of the stock is owned by institutional investors.

Prudential Financial Trading Up 1.1%

PRU stock opened at $108.34 on Wednesday. The stock has a market cap of $37.92 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 0.88 and a beta of 1.05. The company has a fifty day moving average price of $103.65 and a two-hundred day moving average price of $104.83. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. 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 posted its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. The company had revenue of $8.35 billion during the quarter. Prudential Financial had a net margin of 4.65% and a return on equity of 16.98%. Equities analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Tuesday, November 18th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Tuesday, November 18th. Prudential Financial’s dividend payout ratio (DPR) is presently 74.18%.

Insiders Place Their Bets

In related news, Chairman Charles F. Lowrey sold 48,164 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the transaction, the chairman directly owned 165,564 shares of the company’s stock, valued at approximately $17,779,917.96. This trade represents a 22.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 transaction of $438,600.00. Following the transaction, the executive vice president owned 21,506 shares in the company, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on PRU shares. Wolfe Research started coverage on shares of Prudential Financial in a research report on Tuesday, September 16th. They set a “peer perform” rating on the stock. Evercore ISI increased their price target on Prudential Financial from $120.00 to $122.00 and gave the company an “in-line” rating in a research report on Thursday, October 30th. Morgan Stanley upped their price objective on Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Barclays decreased their target price on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Prudential Financial from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. One analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $120.73.

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.