American Century Companies Inc. Grows Stock Holdings in Prudential Financial, Inc. $PRU

American Century Companies Inc. boosted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 40.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 666,008 shares of the financial services provider’s stock after buying an additional 190,245 shares during the period. American Century Companies Inc. owned 0.19% of Prudential Financial worth $71,556,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Meeder Asset Management Inc. grew its position in shares of Prudential Financial by 90.2% during the first quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 111 shares in the last quarter. AlphaQuest LLC boosted its stake in Prudential Financial by 12,250.0% in the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 245 shares during the period. Cheviot Value Management LLC purchased a new stake in Prudential Financial during the 1st quarter valued at approximately $26,000. Clearstead Trust LLC raised its position in shares of Prudential Financial by 350.8% during the first quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider’s stock valued at $30,000 after buying an additional 207 shares during the last quarter. Finally, AlphaCore Capital LLC bought a new position in shares of Prudential Financial during the second quarter worth $39,000. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

PRU stock opened at $108.02 on Thursday. The stock has a market cap of $37.81 billion, a PE ratio of 14.84, a P/E/G ratio of 0.88 and a beta of 1.05. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $130.55. The company has a 50-day moving average price of $103.75 and a 200 day moving average price of $104.85. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. The business 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 research analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th will be given a $1.35 dividend. 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 is 74.18%.

Wall Street Analyst Weigh In

PRU has been the topic of a number of research reports. Morgan Stanley lifted their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Wall Street Zen raised Prudential Financial from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Prudential Financial in a research note on Tuesday. Keefe, Bruyette & Woods lifted their price objective on Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a research note on Monday, November 3rd. Finally, Wolfe Research assumed coverage on Prudential Financial in a report on Tuesday, September 16th. They set a “peer perform” rating on the stock. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $119.50.

Insiders Place Their Bets

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the business’s stock in a transaction dated Friday, August 29th. The shares were 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 directly owned 21,506 shares of the company’s stock, valued at $2,358,132.90. The trade was a 15.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Charles F. Lowrey sold 48,164 shares of the company’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the completion of the transaction, the chairman owned 165,564 shares in the company, valued at $17,779,917.96. This represents a 22.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.25% of the stock is currently owned by insiders.

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.