Geode Capital Management LLC Raises Holdings in Prudential Financial, Inc. $PRU

Geode Capital Management LLC raised its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 1.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,402,393 shares of the financial services provider’s stock after acquiring an additional 163,874 shares during the period. Geode Capital Management LLC owned approximately 2.67% of Prudential Financial worth $1,010,474,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Meeder Asset Management Inc. grew its holdings in shares of Prudential Financial by 90.2% during the 1st quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 111 shares during the period. AlphaQuest LLC raised its holdings in Prudential Financial by 12,250.0% in the first quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock valued at $28,000 after buying an additional 245 shares during the period. Cheviot Value Management LLC acquired a new position in Prudential Financial during the first quarter valued at approximately $26,000. Clearstead Trust LLC grew its stake in Prudential Financial by 350.8% during the first quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider’s stock worth $30,000 after buying an additional 207 shares during the period. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of Prudential Financial in the first quarter worth $45,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Morgan Stanley upped their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Wolfe Research assumed coverage on Prudential Financial in a research note on Tuesday, September 16th. They set a “peer perform” rating on the stock. Keefe, Bruyette & Woods raised their target price on Prudential Financial from $117.00 to $118.00 and gave the company a “market perform” rating in a report on Monday, November 3rd. Wall Street Zen raised Prudential Financial from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Prudential Financial in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Prudential Financial presently has a consensus rating of “Hold” and a consensus target price of $120.73.

Insider Activity

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

Prudential Financial Trading Down 0.0%

Shares of PRU opened at $107.75 on Friday. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. The stock has a 50-day moving average price of $103.67 and a 200 day moving average price of $104.66. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market capitalization of $37.71 billion, a P/E ratio of 14.80, a P/E/G ratio of 0.88 and a beta of 1.05.

Prudential Financial (NYSE:PRU) last announced its earnings results 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 for the quarter. Prudential Financial had a return on equity of 16.98% and a net margin of 4.65%. Sell-side analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Tuesday, November 18th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Tuesday, November 18th. Prudential Financial’s dividend payout ratio is 74.18%.

Prudential Financial 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.