Cwm LLC Grows Position in Prudential Financial, Inc. (NYSE:PRU)

Cwm LLC raised its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 13.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,036 shares of the financial services provider’s stock after buying an additional 1,527 shares during the period. Cwm LLC’s holdings in Prudential Financial were worth $1,528,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Cambridge Trust Co. boosted its position in Prudential Financial by 77.2% in the 4th quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after buying an additional 105 shares during the period. Creekmur Asset Management LLC boosted its holdings in shares of Prudential Financial by 78.8% in the first quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 108 shares during the period. Lynx Investment Advisory bought a new position in Prudential Financial in the second quarter worth approximately $29,000. Crewe Advisors LLC purchased a new position in Prudential Financial during the 1st quarter worth $33,000. Finally, ESL Trust Services LLC bought a new stake in Prudential Financial during the 1st quarter valued at $34,000. 56.83% of the stock is owned by institutional investors.

Prudential Financial Stock Up 0.3 %

Shares of PRU stock traded up $0.30 during trading hours on Friday, reaching $109.02. 232,924 shares of the company’s stock were exchanged, compared to its average volume of 1,495,118. Prudential Financial, Inc. has a 1 year low of $87.95 and a 1 year high of $128.52. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.67. The stock has a market cap of $39.14 billion, a PE ratio of 18.49, a PEG ratio of 0.86 and a beta of 1.34. The stock’s fifty day moving average price is $118.62 and its two-hundred day moving average price is $114.16.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Tuesday, August 20th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.77%. Prudential Financial’s payout ratio is 88.44%.

Insiders Place Their Bets

In other news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of the stock in a transaction on Thursday, June 20th. The stock was bought at an average price of $27.57 per share, with a total value of $18,000,011.88. Following the transaction, the insider now owns 3,883,390 shares in the company, valued at approximately $107,065,062.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 652,884 shares of Prudential Financial stock in a transaction on Thursday, June 20th. The stock was bought at an average cost of $27.57 per share, with a total value of $18,000,011.88. Following the transaction, the insider now owns 3,883,390 shares of the company’s stock, valued at approximately $107,065,062.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert Falzon sold 130,092 shares of Prudential Financial stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the sale, the executive vice president now owns 202,083 shares of the company’s stock, valued at $23,960,981.31. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Piper Sandler cut their price target on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Citigroup upped their price target on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group reduced their price objective on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating for the company in a research note on Friday, June 28th. JPMorgan Chase & Co. increased their target price on Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Finally, Keefe, Bruyette & Woods boosted their price target on Prudential Financial from $118.00 to $121.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $118.25.

About Prudential Financial

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.