Cim Investment Management Inc. Has $918,000 Position in Prudential Financial, Inc. $PRU

Cim Investment Management Inc. lessened its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 50.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 8,850 shares of the financial services provider’s stock after selling 9,119 shares during the quarter. Cim Investment Management Inc.’s holdings in Prudential Financial were worth $918,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Wealth Watch Advisors INC bought a new stake in Prudential Financial in the 3rd quarter valued at $30,000. Darwin Wealth Management LLC acquired a new position in shares of Prudential Financial in the second quarter valued at about $36,000. Chilton Capital Management LLC increased its position 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 acquiring an additional 208 shares during the period. AlphaCore Capital LLC bought a new stake in Prudential Financial in the 2nd quarter valued at about $39,000. Finally, Capital A Wealth Management LLC grew its position in shares of Prudential Financial by 4,600.0% during the 2nd 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. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PRU shares. Evercore reiterated a “negative” rating on shares of Prudential Financial in a research note on Friday, March 6th. Mizuho lowered their price objective on Prudential Financial from $126.00 to $113.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 10th. Wells Fargo & Company downgraded Prudential Financial from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $115.00 to $103.00 in a research report on Wednesday, February 25th. Barclays reduced their target price on Prudential Financial from $124.00 to $119.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 11th. Finally, Wall Street Zen cut Prudential Financial from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Nine equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Prudential Financial presently has an average rating of “Reduce” and a consensus price target of $115.22.

Insider Activity at Prudential Financial

In other news, Director Thomas D. Stoddard bought 250 shares of the stock in a transaction on Tuesday, February 17th. The stock was acquired at an average price of $102.97 per share, with a total value of $25,742.50. Following the acquisition, the director directly owned 250 shares in the company, valued at approximately $25,742.50. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jacques Chappuis bought 1,000 shares of the company’s stock in a transaction on Friday, February 6th. The stock was purchased at an average price of $100.97 per share, with a total value of $100,970.00. Following the completion of the transaction, the executive vice president directly owned 1,000 shares of the company’s stock, valued at approximately $100,970. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders bought 1,408,389 shares of company stock worth $35,154,439. Corporate insiders own 0.25% of the company’s stock.

Prudential Financial Stock Performance

Prudential Financial stock opened at $94.50 on Wednesday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The stock has a market cap of $32.89 billion, a PE ratio of 9.45, a P/E/G ratio of 1.14 and a beta of 0.98. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $119.76. The business’s 50-day moving average price is $104.81 and its two-hundred day moving average price is $106.33.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, February 3rd. The financial services provider reported $3.30 EPS for the quarter, missing analysts’ consensus estimates of $3.37 by ($0.07). The company had revenue of $14.52 billion during the quarter, compared to the consensus estimate of $14.48 billion. Prudential Financial had a return on equity of 16.32% and a net margin of 6.20%.During the same period last year, the company posted $2.96 EPS. As a group, analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Tuesday, February 17th were given a $1.40 dividend. This is an increase from Prudential Financial’s previous quarterly dividend of $1.35. This represents a $5.60 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date was Tuesday, February 17th. Prudential Financial’s dividend payout ratio (DPR) is 56.00%.

Prudential Financial Profile

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.