Prudential Financial, Inc. $PRU Shares Purchased by AlphaQuest LLC

AlphaQuest LLC boosted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 2,402.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,037 shares of the financial services provider’s stock after acquiring an additional 13,476 shares during the period. AlphaQuest LLC’s holdings in Prudential Financial were worth $1,456,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PRU. Darwin Wealth Management LLC purchased a new stake in Prudential Financial during the 2nd quarter worth about $36,000. Chilton Capital Management LLC lifted its stake in Prudential Financial by 146.5% during the third quarter. Chilton Capital Management LLC now owns 350 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 208 shares during the last quarter. AlphaCore Capital LLC purchased a new position in Prudential Financial in the second quarter valued at approximately $39,000. Capital A Wealth Management LLC raised its holdings in Prudential Financial by 4,600.0% during the second quarter. Capital A Wealth Management LLC now owns 376 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 368 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of Prudential Financial during the 2nd quarter worth approximately $51,000. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Prudential Financial Trading Up 1.0%

NYSE:PRU opened at $111.00 on Friday. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $122.34. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The stock’s 50 day simple moving average is $112.77 and its 200-day simple moving average is $107.35. The firm has a market cap of $38.85 billion, a P/E ratio of 15.25, a PEG ratio of 1.22 and a beta of 0.97.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $4.26 earnings per share for the quarter, beating analysts’ consensus estimates of $3.72 by $0.54. The firm had revenue of $17.89 billion for the quarter, compared to analyst estimates of $13.77 billion. Prudential Financial had a net margin of 4.65% and a return on equity of 16.60%. During the same period last year, the firm posted $3.48 EPS. 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 was paid on Thursday, December 11th. Stockholders of record on Tuesday, November 18th were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date was Tuesday, November 18th. Prudential Financial’s payout ratio is 74.18%.

Insider Activity

In other news, EVP Caroline Feeney sold 6,555 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $116.28, for a total value of $762,215.40. Following the completion of the sale, the executive vice president directly owned 22,523 shares of the company’s stock, valued at $2,618,974.44. This trade represents a 22.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential purchased 1,406,739 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The stock was acquired at an average price of $24.87 per share, for a total transaction of $34,985,598.93. Following the completion of the purchase, the insider owned 7,709,624 shares of the company’s stock, valued at approximately $191,738,348.88. This represents a 22.32% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders sold 62,719 shares of company stock valued at $6,796,067. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on PRU shares. Barclays dropped their target price on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Weiss Ratings upgraded Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Morgan Stanley upped their target price on Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods lifted their price target on Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a research report on Monday, November 3rd. Finally, Wall Street Zen downgraded Prudential Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. One equities research analyst has rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and a consensus price target of $120.78.

About Prudential Financial

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.