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

AlphaQuest LLC boosted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 2,402.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 14,037 shares of the financial services provider’s stock after purchasing an additional 13,476 shares during the quarter. AlphaQuest LLC’s holdings in Prudential Financial were worth $1,456,000 at the end of the most recent reporting period.

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

Insider Activity at Prudential Financial

In other Prudential Financial news, EVP Caroline Feeney sold 6,555 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $116.28, for a total transaction of $762,215.40. Following the transaction, the executive vice president owned 22,523 shares of the company’s stock, valued at $2,618,974.44. This trade represents a 22.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential purchased 1,406,739 shares of the firm’s stock in a transaction on Friday, January 23rd. The stock was bought at an average price of $24.87 per share, for a total transaction of $34,985,598.93. Following the acquisition, the insider owned 7,709,624 shares in the company, valued at $191,738,348.88. The trade was a 22.32% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders sold 62,719 shares of company stock worth $6,796,067. 0.25% of the stock is owned by insiders.

Prudential Financial Trading Up 1.0%

Shares of PRU opened at $111.00 on Friday. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $122.34. The company has a market capitalization of $38.85 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 1.22 and a beta of 0.97. The stock has a fifty day moving average of $112.77 and a two-hundred day moving average of $107.35. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $4.26 EPS for the quarter, beating analysts’ consensus estimates of $3.72 by $0.54. The business had revenue of $17.89 billion during the quarter, compared to the consensus estimate of $13.77 billion. Prudential Financial had a return on equity of 16.60% and a net margin of 4.65%.During the same quarter in the previous year, the business earned $3.48 earnings per share. As a group, analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th were issued a $1.35 dividend. The ex-dividend date was Tuesday, November 18th. This represents a $5.40 annualized dividend and a yield of 4.9%. Prudential Financial’s payout ratio is 74.18%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Mizuho started coverage on shares of Prudential Financial in a report on Tuesday, December 16th. They set a “neutral” rating and a $125.00 target price for the company. Evercore ISI raised their price objective on shares of Prudential Financial from $120.00 to $122.00 and gave the stock an “in-line” rating in a research note on Thursday, October 30th. Wall Street Zen lowered Prudential Financial from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Weiss Ratings raised Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Finally, Keefe, Bruyette & Woods upped their price objective on Prudential Financial from $117.00 to $118.00 and gave the company a “market perform” rating in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus 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.