Chevy Chase Trust Holdings LLC Raises Position in Prudential Financial, Inc. $PRU

Chevy Chase Trust Holdings LLC lifted its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 0.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 187,104 shares of the financial services provider’s stock after buying an additional 1,325 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Prudential Financial were worth $20,102,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in Prudential Financial by 3.7% in the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock worth $436,000 after buying an additional 133 shares during the period. GAMMA Investing LLC boosted its holdings in Prudential Financial by 1.9% in the 1st quarter. GAMMA Investing LLC now owns 7,771 shares of the financial services provider’s stock worth $868,000 after buying an additional 145 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Prudential Financial by 3.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 79,888 shares of the financial services provider’s stock worth $8,922,000 after buying an additional 2,623 shares during the period. Exchange Traded Concepts LLC boosted its holdings in Prudential Financial by 9.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,501 shares of the financial services provider’s stock worth $279,000 after buying an additional 222 shares during the period. Finally, State of Alaska Department of Revenue boosted its holdings in Prudential Financial by 2.2% in the 1st quarter. State of Alaska Department of Revenue now owns 41,470 shares of the financial services provider’s stock worth $4,631,000 after buying an additional 875 shares during the period. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Activity

In other news, EVP Ann M. Kappler sold 4,000 shares of Prudential Financial stock in a transaction on Friday, August 29th. The shares were sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the sale, the executive vice president directly owned 21,506 shares of the company’s stock, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.25% of the company’s stock.

Prudential Financial Stock Up 0.9%

Shares of NYSE:PRU opened at $100.76 on Friday. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market cap of $35.47 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 0.89 and a beta of 1.04. The firm has a fifty day moving average price of $105.06 and a two-hundred day moving average price of $104.11.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The company had revenue of $8.35 billion during the quarter. Analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend was Tuesday, August 19th. Prudential Financial’s payout ratio is currently 119.73%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PRU shares. Wolfe Research started coverage on shares of Prudential Financial in a report on Tuesday, September 16th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. raised their price objective on shares of Prudential Financial from $126.00 to $136.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. Wells Fargo & Company cut their price target on shares of Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating for the company in a report on Wednesday, July 16th. Morgan Stanley raised their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Finally, Piper Sandler cut their price target on shares of Prudential Financial from $109.00 to $108.00 and set a “neutral” rating for the company in a report on Wednesday, July 16th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $122.27.

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.