Caisse DE Depot ET Placement DU Quebec Buys 54,454 Shares of Prudential Financial, Inc. $PRU

Caisse DE Depot ET Placement DU Quebec increased its stake in Prudential Financial, Inc. (NYSE:PRU) by 77.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 124,904 shares of the financial services provider’s stock after purchasing an additional 54,454 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Prudential Financial were worth $13,949,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PRU. Meeder Asset Management Inc. lifted its stake in Prudential Financial by 90.2% in 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 in the last quarter. AlphaQuest LLC increased its position in shares of Prudential Financial by 12,250.0% during the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 245 shares during the last quarter. North Capital Inc. bought a new position in shares of Prudential Financial during the 1st quarter valued at about $28,000. Cheviot Value Management LLC bought a new position in shares of Prudential Financial during the 1st quarter valued at about $26,000. Finally, Clearstead Trust LLC increased its position 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 valued at $30,000 after purchasing an additional 207 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

Prudential Financial Price Performance

NYSE PRU opened at $109.59 on Thursday. Prudential Financial, Inc. has a 52 week low of $90.38 and a 52 week high of $130.55. The firm has a market capitalization of $38.57 billion, a P/E ratio of 24.30, a PEG ratio of 0.97 and a beta of 1.07. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average price of $105.53 and a 200-day moving average price of $105.85.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $3.58 EPS for the quarter, beating 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 analyst estimates of $13.47 billion. During the same quarter in the prior year, the firm earned $3.39 EPS. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. Equities research analysts anticipate that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Tuesday, August 19th. Prudential Financial’s payout ratio is presently 119.73%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. UBS Group reduced their price target on Prudential Financial from $122.00 to $110.00 and set a “neutral” rating on the stock in a report on Tuesday, May 27th. Barclays raised their price objective on shares of Prudential Financial from $119.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, July 17th. Wall Street Zen upgraded shares of Prudential Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Piper Sandler lowered their price objective 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. Finally, 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. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $122.08.

Insider Buying and Selling at Prudential Financial

In related news, major shareholder Insurance Co Of Ame Prudential acquired 1,675,978 shares of the stock in a transaction dated Monday, June 16th. The shares were purchased at an average cost of $28.64 per share, with a total value of $48,000,009.92. Following the transaction, the insider directly owned 3,168,461 shares in the company, valued at approximately $90,744,723.04. This represents a 112.29% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.25% of the stock is currently owned by insiders.

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.