Caisse de depot et placement du Quebec Has $17.28 Million Stock Holdings in Prudential Financial, Inc. $PRU

Caisse de depot et placement du Quebec boosted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 1,014.7% in the second quarter, HoldingsChannel reports. The firm owned 160,131 shares of the financial services provider’s stock after purchasing an additional 145,766 shares during the quarter. Caisse de depot et placement du Quebec’s holdings in Prudential Financial were worth $17,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Jessup Wealth Management Inc bought a new position in Prudential Financial in the 4th quarter valued at about $25,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Prudential Financial during the fourth quarter worth approximately $26,000. SJS Investment Consulting Inc. grew its position in shares of Prudential Financial by 93.1% in the first quarter. SJS Investment Consulting Inc. now owns 278 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 134 shares during the last quarter. Coston McIsaac & Partners increased its stake in shares of Prudential Financial by 93.4% during the fourth quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 128 shares during the period. Finally, Wealth Watch Advisors INC acquired a new stake in Prudential Financial during the 3rd quarter worth approximately $30,000. 56.83% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $24.75, for a total transaction of $5,314,963.50. Following the completion of the sale, the insider directly owned 7,973,657 shares in the company, valued at $197,348,010.75. This represents a 2.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ann M. Kappler sold 7,652 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $125.01, for a total value of $956,576.52. Following the completion of the sale, the executive vice president directly owned 14,407 shares in the company, valued at $1,801,019.07. This trade represents a 34.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.05% of the company’s stock.

Prudential Financial Price Performance

PRU stock opened at $119.80 on Friday. The company’s 50-day moving average price is $117.95 and its two-hundred day moving average price is $106.27. The firm has a market cap of $41.33 billion, a P/E ratio of 10.85, a P/E/G ratio of 2.26 and a beta of 0.84. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.62. Prudential Financial, Inc. has a 12 month low of $91.89 and a 12 month high of $127.72.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.52 by $0.56. The company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.36 billion. Prudential Financial had a net margin of 6.51% and a return on equity of 16.68%. During the same quarter in the prior year, the firm posted $3.58 EPS. On average, analysts anticipate that Prudential Financial, Inc. will post 14.35 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th will be paid a dividend of $1.40 per share. The ex-dividend date is Tuesday, August 25th. This represents a $5.60 annualized dividend and a yield of 4.7%. Prudential Financial’s dividend payout ratio is presently 50.72%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods increased their price objective on Prudential Financial from $113.00 to $123.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 11th. JPMorgan Chase & Co. boosted their target price on shares of Prudential Financial from $129.00 to $131.00 and gave the company a “neutral” rating in a research report on Monday, August 17th. Wall Street Zen raised shares of Prudential Financial from a “hold” rating to a “buy” rating in a research report on Saturday. TD Cowen lifted their price objective on shares of Prudential Financial from $102.00 to $114.00 and gave the stock a “hold” rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings upgraded shares of Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, Prudential Financial presently has an average rating of “Reduce” and an average price target of $109.31.

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.