Prudential Financial, Inc. $PRU Shares Acquired by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. boosted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 3.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,634 shares of the financial services provider’s stock after acquiring an additional 756 shares during the period. TD Waterhouse Canada Inc.’s holdings in Prudential Financial were worth $2,576,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Proffitt & Goodson Inc. grew its position in shares of Prudential Financial by 12.7% in the second quarter. Proffitt & Goodson Inc. now owns 871 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 98 shares during the last quarter. SPC Financial Inc. lifted its stake in Prudential Financial by 2.6% in the 1st quarter. SPC Financial Inc. now owns 3,973 shares of the financial services provider’s stock valued at $444,000 after buying an additional 100 shares in the last quarter. Thrive Wealth Management LLC grew its holdings in Prudential Financial by 2.6% during the 2nd quarter. Thrive Wealth Management LLC now owns 4,007 shares of the financial services provider’s stock valued at $430,000 after buying an additional 101 shares during the last quarter. Eagle Capital Management LLC increased its position in Prudential Financial by 0.3% during the second quarter. Eagle Capital Management LLC now owns 35,806 shares of the financial services provider’s stock worth $3,847,000 after buying an additional 108 shares in the last quarter. Finally, TIAA Trust National Association raised its holdings in shares of Prudential Financial by 2.7% in the second quarter. TIAA Trust National Association now owns 4,142 shares of the financial services provider’s stock worth $445,000 after acquiring an additional 108 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Activity

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $109.65, for a total value of $438,600.00. Following the completion of the sale, the executive vice president owned 21,506 shares of the company’s stock, valued at $2,358,132.90. This trade represents a 15.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Charles F. Lowrey sold 48,164 shares of the business’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the transaction, the chairman directly owned 165,564 shares in the company, valued at approximately $17,779,917.96. The trade was a 22.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on PRU shares. Keefe, Bruyette & Woods lifted their price objective on Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a research report on Monday, November 3rd. Morgan Stanley lifted 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. Evercore ISI upped their price objective on shares of Prudential Financial from $120.00 to $122.00 and gave the company an “in-line” rating in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Prudential Financial in a research note on Wednesday. Finally, Wall Street Zen raised Prudential Financial from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. One equities research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $120.73.

Prudential Financial Stock Up 2.6%

PRU opened at $106.83 on Friday. The company has a market cap of $37.39 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 0.88 and a beta of 1.05. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The firm has a 50 day moving average price of $103.49 and a 200 day moving average price of $104.72.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. The company had revenue of $8.35 billion during the quarter. Prudential Financial had a net margin of 4.65% and a return on equity of 16.98%. Sell-side analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Tuesday, November 18th. Prudential Financial’s payout ratio is currently 74.18%.

Prudential Financial Company Profile

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.