Fidelis Capital Partners LLC Has $702,000 Stake in Prudential Financial, Inc. $PRU

Fidelis Capital Partners LLC boosted its position in Prudential Financial, Inc. (NYSE:PRU) by 228.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,767 shares of the financial services provider’s stock after purchasing an additional 4,708 shares during the period. Fidelis Capital Partners LLC’s holdings in Prudential Financial were worth $702,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Prudential Financial in the second quarter valued at approximately $122,778,000. Vanguard Group Inc. grew its holdings in Prudential Financial by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 42,502,160 shares of the financial services provider’s stock worth $4,566,432,000 after acquiring an additional 600,482 shares during the last quarter. Nordea Investment Management AB increased its position in Prudential Financial by 49.2% in the 2nd quarter. Nordea Investment Management AB now owns 1,720,781 shares of the financial services provider’s stock valued at $184,192,000 after acquiring an additional 567,571 shares during the period. Marshall Wace LLP acquired a new position in shares of Prudential Financial during the second quarter worth $40,552,000. Finally, Canada Pension Plan Investment Board grew its stake in shares of Prudential Financial by 209.2% in the second quarter. Canada Pension Plan Investment Board now owns 520,025 shares of the financial services provider’s stock worth $55,871,000 after purchasing an additional 351,849 shares during the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Price Performance

Shares of PRU opened at $109.82 on Friday. The firm has a market cap of $38.44 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 1.19 and a beta of 0.97. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $123.41. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The business’s 50 day moving average price is $112.69 and its two-hundred day moving average price is $107.29.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $4.26 earnings per share for the quarter, beating the consensus estimate of $3.72 by $0.54. The company had revenue of $17.89 billion during 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 quarter in the previous year, the business posted $3.48 EPS. On average, equities analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Tuesday, November 18th were paid a $1.35 dividend. The ex-dividend date was Tuesday, November 18th. This represents a $5.40 annualized dividend and a dividend yield of 4.9%. Prudential Financial’s dividend payout ratio (DPR) is currently 74.18%.

Insider Transactions at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential bought 1,406,739 shares of the stock in a transaction dated Friday, January 23rd. The shares were bought at an average cost of $24.87 per share, with a total value of $34,985,598.93. Following the completion of the transaction, the insider directly owned 7,709,624 shares of the company’s stock, valued at $191,738,348.88. This trade represents a 22.32% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Timothy L. Schmidt sold 8,000 shares of Prudential Financial stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $107.69, for a total transaction of $861,520.00. Following the completion of the sale, the senior vice president directly owned 11,535 shares of the company’s stock, valued at approximately $1,242,204.15. The trade was a 40.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 62,719 shares of company stock valued at $6,796,067 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PRU. UBS Group raised their target price on Prudential Financial from $111.00 to $116.00 and gave the stock a “neutral” rating in a research report on Thursday, January 8th. Wall Street Zen downgraded Prudential Financial from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Barclays reduced their target price on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. Morgan Stanley raised their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Finally, Mizuho began coverage on shares of Prudential Financial in a research note on Tuesday, December 16th. They issued a “neutral” rating and a $125.00 price objective on the stock. One 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, the company presently has an average rating of “Hold” and an average price target of $120.78.

Prudential Financial Company 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.