CPR Investments Inc. Acquires New Shares in Prudential Financial, Inc. $PRU

CPR Investments Inc. bought a new stake in Prudential Financial, Inc. (NYSE:PRU) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 127,405 shares of the financial services provider’s stock, valued at approximately $14,381,000. Prudential Financial comprises 8.8% of CPR Investments Inc.’s holdings, making the stock its 2nd biggest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Sunflower Bank N.A. boosted its stake in Prudential Financial by 3.2% during the 4th quarter. Sunflower Bank N.A. now owns 2,911 shares of the financial services provider’s stock valued at $329,000 after purchasing an additional 91 shares during the period. CIBC Private Wealth Group LLC grew its position in Prudential Financial by 0.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 28,795 shares of the financial services provider’s stock worth $2,987,000 after purchasing an additional 97 shares during the last quarter. Mindset Wealth Management LLC increased its stake in shares of Prudential Financial by 2.1% in the third quarter. Mindset Wealth Management LLC now owns 4,781 shares of the financial services provider’s stock valued at $496,000 after purchasing an additional 100 shares during the period. Woodward Diversified Capital LLC raised its holdings in shares of Prudential Financial by 1.4% during the third quarter. Woodward Diversified Capital LLC now owns 7,662 shares of the financial services provider’s stock valued at $795,000 after buying an additional 103 shares during the last quarter. Finally, Pitcairn Co. boosted its position in shares of Prudential Financial by 2.7% during the second quarter. Pitcairn Co. now owns 3,973 shares of the financial services provider’s stock worth $427,000 after buying an additional 104 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Down 2.1%

Shares of Prudential Financial stock opened at $93.23 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. Prudential Financial, Inc. has a 12-month low of $90.38 and a 12-month high of $119.76. The firm has a market capitalization of $32.44 billion, a PE ratio of 9.32, a price-to-earnings-growth ratio of 1.15 and a beta of 0.98. The stock’s fifty day moving average is $101.16 and its 200-day moving average is $105.59.

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

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Tuesday, February 17th were paid a dividend of $1.40 per share. This is a boost from Prudential Financial’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 6.0%. Prudential Financial’s dividend payout ratio (DPR) is 56.00%.

Wall Street Analysts Forecast Growth

PRU has been the subject of several recent analyst reports. Piper Sandler increased their price target on Prudential Financial from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 23rd. Evercore restated a “negative” rating on shares of Prudential Financial in a research note on Friday, March 6th. Keefe, Bruyette & Woods began coverage on shares of Prudential Financial in a research report on Thursday. They issued a “hold” rating and a $106.00 target price for the company. Weiss Ratings cut shares of Prudential Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 13th. Finally, Wells Fargo & Company downgraded shares of Prudential Financial from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $115.00 to $103.00 in a research report on Wednesday, February 25th. Nine analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $113.89.

Insider Transactions at Prudential Financial

In other news, Director Joseph J. Wolk purchased 400 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was acquired at an average price of $105.32 per share, with a total value of $42,128.00. Following the purchase, the director owned 400 shares in the company, valued at $42,128. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential acquired 1,406,739 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The stock was purchased at an average price of $24.87 per share, for a total transaction of $34,985,598.93. Following the acquisition, the insider directly owned 7,709,624 shares of the company’s stock, valued at $191,738,348.88. The trade was a 22.32% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 1,408,389 shares of company stock valued at $35,154,439 in the last quarter. Corporate insiders own 0.25% of the company’s stock.

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.