CW Advisors LLC Purchases 5,589 Shares of Prudential Financial, Inc. $PRU

Key Points

• CW Advisors LLC significantly increased its stake in Prudential Financial, raising its ownership by 172.4% to a total of 8,831 shares, valued at approximately $991,000.
• Major shareholder Insurance Co Of Ame Prudential purchased 1,675,978 shares at an average price of $28.64 per share, marking a 112.29% increase in their position.
• Prudential Financial reported a quarterly earnings per share of $3.58, exceeding analyst expectations, while also announcing a quarterly dividend of $1.35, representing a yield of 4.9%.

CW Advisors LLC grew its stake in Prudential Financial, Inc. (NYSE:PRU - Free Report) by 172.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,831 shares of the financial services provider's stock after acquiring an additional 5,589 shares during the period. CW Advisors LLC's holdings in Prudential Financial were worth $991,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. grew its holdings in shares of Prudential Financial by 90.2% in the 1st quarter. Meeder Asset Management Inc. now owns 234 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 111 shares in the last quarter. Cheviot Value Management LLC bought a new stake in shares of Prudential Financial during the 1st quarter worth approximately $26,000. North Capital Inc. bought a new stake in shares of Prudential Financial during the 1st quarter worth approximately $28,000. Opal Wealth Advisors LLC bought a new stake in shares of Prudential Financial during the 1st quarter worth approximately $30,000. Finally, Clearstead Trust LLC raised its stake in shares of Prudential Financial by 350.8% during the 1st quarter. Clearstead Trust LLC now owns 266 shares of the financial services provider's stock worth $30,000 after purchasing an additional 207 shares in the last quarter. Institutional investors own 56.83% of the company's stock.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 1,675,978 shares of the stock in a transaction dated Monday, June 16th. The shares were bought at an average cost of $28.64 per share, with a total value of $48,000,009.92. Following the completion of the acquisition, the insider owned 3,168,461 shares of the company's stock, valued at $90,744,723.04. This trade represents a 112.29% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.25% of the company's stock.

Analyst Ratings Changes

PRU has been the topic of a number of analyst reports. Keefe, Bruyette & Woods dropped their price objective on Prudential Financial from $120.00 to $117.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 7th. Piper Sandler cut their target price on shares of Prudential Financial from $109.00 to $108.00 and set a "neutral" rating for the company in a research note on Wednesday, July 16th. Barclays raised their target price on shares of Prudential Financial from $119.00 to $120.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. raised their target price on shares of Prudential Financial from $126.00 to $136.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Finally, UBS Group cut their target price on shares of Prudential Financial from $122.00 to $110.00 and set a "neutral" rating for the company in a research note on Tuesday, May 27th. One equities research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $122.08.

Prudential Financial Stock Performance

PRU stock traded down $0.71 during mid-day trading on Thursday, hitting $108.76. 936,225 shares of the company were exchanged, compared to its average volume of 1,789,117. The business has a 50 day simple moving average of $105.62 and a 200-day simple moving average of $105.83. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $38.28 billion, a PE ratio of 24.12, a price-to-earnings-growth ratio of 0.98 and a beta of 1.07. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.36. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The firm had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.47 billion. During the same period last year, the business posted $3.39 earnings per share. The business's revenue for the quarter was down 2.5% compared to the same quarter last year. On average, equities analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $5.40 annualized dividend and a dividend yield of 5.0%. Prudential Financial's dividend payout ratio (DPR) is currently 119.73%.

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.