AXQ Capital LP Takes Position in Prudential Financial, Inc. $PRU

AXQ Capital LP purchased a new position in Prudential Financial, Inc. (NYSE:PRU) during the third quarter, Holdings Channel reports. The firm purchased 14,978 shares of the financial services provider’s stock, valued at approximately $1,554,000. Prudential Financial accounts for 0.6% of AXQ Capital LP’s portfolio, making the stock its 12th largest position.

Several other institutional investors and hedge funds have also bought and sold shares of PRU. Brighton Jones LLC lifted its holdings in shares of Prudential Financial by 3.7% during the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock worth $436,000 after acquiring an additional 133 shares during the period. Empowered Funds LLC lifted its stake in Prudential Financial by 30.5% during the first quarter. Empowered Funds LLC now owns 17,690 shares of the financial services provider’s stock worth $1,976,000 after purchasing an additional 4,134 shares during the last quarter. Strategic Blueprint LLC boosted its holdings in shares of Prudential Financial by 14.4% in the 2nd quarter. Strategic Blueprint LLC now owns 3,667 shares of the financial services provider’s stock valued at $394,000 after purchasing an additional 461 shares in the last quarter. AlphaQuest LLC increased its stake in shares of Prudential Financial by 127.1% in the 2nd quarter. AlphaQuest LLC now owns 561 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 314 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Prudential Financial by 0.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 140,857 shares of the financial services provider’s stock worth $15,134,000 after buying an additional 1,204 shares in the last quarter. Institutional investors own 56.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PRU. Piper Sandler raised their price objective on Prudential Financial from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, December 23rd. Weiss Ratings raised shares of Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Wells Fargo & Company increased their price objective on shares of Prudential Financial from $113.00 to $115.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 13th. Wall Street Zen cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Finally, Mizuho cut their price objective on Prudential Financial from $126.00 to $113.00 and set a “neutral” rating on the stock in a report on Tuesday, February 10th. One research analyst has rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $117.11.

Prudential Financial Trading Down 2.5%

Shares of PRU stock opened at $100.85 on Tuesday. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $119.76. 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 stock has a 50 day simple moving average of $110.47 and a two-hundred day simple moving average of $107.47. The company has a market cap of $35.10 billion, a P/E ratio of 10.09, a PEG ratio of 1.18 and a beta of 0.97.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $3.30 EPS for the quarter, missing the consensus estimate of $3.37 by ($0.07). The company had revenue of $15.69 billion for the quarter, compared to analyst estimates 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 business earned $2.96 EPS. Research analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Tuesday, February 17th will be issued a $1.40 dividend. The ex-dividend date is Tuesday, February 17th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.35. This represents a $5.60 dividend on an annualized basis and a yield of 5.6%. Prudential Financial’s dividend payout ratio is 56.00%.

Insider Activity

In related news, EVP Jacques Chappuis acquired 1,000 shares of the business’s stock in a transaction dated Friday, February 6th. The shares were bought at an average price of $100.97 per share, with a total value of $100,970.00. Following the transaction, the executive vice president directly owned 1,000 shares of the company’s stock, valued at $100,970. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Caroline Feeney sold 6,555 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were 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. The trade was a 22.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have acquired 1,408,389 shares of company stock valued at $35,154,439. Corporate insiders own 0.25% of the company’s stock.

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.