Prudential Financial, Inc. (NYSE:PRU) Shares Acquired by Alpha Paradigm Partners LLC

Alpha Paradigm Partners LLC lifted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 88.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,396 shares of the financial services provider’s stock after acquiring an additional 1,595 shares during the quarter. Alpha Paradigm Partners LLC’s holdings in Prudential Financial were worth $348,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of PRU. Quadrant Capital Group LLC increased its stake in shares of Prudential Financial by 22.9% during the first quarter. Quadrant Capital Group LLC now owns 1,747 shares of the financial services provider’s stock worth $159,000 after acquiring an additional 325 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Prudential Financial by 0.3% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 49,652 shares of the financial services provider’s stock worth $4,523,000 after acquiring an additional 171 shares during the period. Prudential Financial Inc. increased its stake in shares of Prudential Financial by 40.3% during the first quarter. Prudential Financial Inc. now owns 206,350 shares of the financial services provider’s stock worth $18,798,000 after acquiring an additional 59,268 shares during the period. Cresset Asset Management LLC increased its stake in shares of Prudential Financial by 56.7% during the first quarter. Cresset Asset Management LLC now owns 7,576 shares of the financial services provider’s stock worth $690,000 after acquiring an additional 2,742 shares during the period. Finally, Geode Capital Management LLC grew its position in Prudential Financial by 0.8% during the first quarter. Geode Capital Management LLC now owns 6,798,673 shares of the financial services provider’s stock worth $618,058,000 after buying an additional 53,400 shares during the period. Institutional investors and hedge funds own 56.14% of the company’s stock.

NYSE:PRU opened at $107.45 on Thursday. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.31. The company has a market cap of $41.48 billion, a P/E ratio of 5.93, a P/E/G ratio of 0.65 and a beta of 1.70. Prudential Financial, Inc. has a fifty-two week low of $60.39 and a fifty-two week high of $111.91. The firm’s 50 day moving average is $105.34 and its two-hundred day moving average is $102.69.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Tuesday, August 3rd. The financial services provider reported $3.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.04 by $0.75. The company had revenue of $13.10 billion for the quarter, compared to the consensus estimate of $13.83 billion. Prudential Financial had a net margin of 13.09% and a return on equity of 8.87%. Research analysts forecast that Prudential Financial, Inc. will post 13.54 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 16th. Shareholders of record on Tuesday, August 24th were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend was Monday, August 23rd. Prudential Financial’s dividend payout ratio is currently 45.05%.

In related news, CEO Charles F. Lowrey sold 37,011 shares of the firm’s stock in a transaction on Friday, October 8th. The shares were sold at an average price of $110.00, for a total transaction of $4,071,210.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Timothy L. Schmidt sold 6,579 shares of the firm’s stock in a transaction on Tuesday, August 24th. The shares were sold at an average price of $104.91, for a total transaction of $690,202.89. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Several research analysts have weighed in on PRU shares. Barclays upped their target price on shares of Prudential Financial from $102.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 16th. Morgan Stanley reduced their price target on shares of Prudential Financial from $107.00 to $105.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 4th. Royal Bank of Canada upped their price target on shares of Prudential Financial from $108.00 to $112.00 and gave the company a “sector perform” rating in a report on Thursday, August 5th. They noted that the move was a valuation call. upped their price target on shares of Prudential Financial from $97.00 to $100.00 and gave the company a “neutral” rating in a report on Monday, June 21st. Finally, Zacks Investment Research raised shares of Prudential Financial from a “hold” rating to a “buy” rating and set a $106.00 price target on the stock in a report on Friday, June 18th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $101.50.

Prudential Financial Profile

Prudential Financial, Inc engages in the provision of financial products and services including life insurance, annuities, mutual funds, and investment management to both individual and institutional customers. It operates through the following segments: PGIM, International Businesses, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, Closed Block, and Corporate and Others.

Further Reading: Institutional Investors

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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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