Cim Investment Management Inc. Purchases 8,976 Shares of Prudential Financial, Inc. $PRU

by · The Cerbat Gem

Cim Investment Management Inc. increased its holdings in Prudential Financial, Inc. (NYSE:PRUFree Report) by 99.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,969 shares of the financial services provider’s stock after buying an additional 8,976 shares during the period. Cim Investment Management Inc.’s holdings in Prudential Financial were worth $2,031,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. AlphaQuest LLC boosted 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 acquiring an additional 245 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in shares of Prudential Financial during the second quarter worth about $36,000. AlphaCore Capital LLC bought a new position in shares of Prudential Financial in the second quarter worth approximately $39,000. Elevation Point Wealth Partners LLC purchased a new stake in Prudential Financial in the second quarter valued at approximately $51,000. Finally, 1248 Management LLC bought a new stake in Prudential Financial during the first quarter valued at approximately $53,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Stock Down 0.0%

Shares of Prudential Financial stock opened at $117.02 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $123.88. The company’s 50 day moving average price is $105.66 and its 200-day moving average price is $105.37. The stock has a market capitalization of $40.96 billion, a price-to-earnings ratio of 16.07, a P/E/G ratio of 0.96 and a beta of 0.97.

Prudential Financial (NYSE:PRUGet Free Report) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. The business had revenue of $8.35 billion during the quarter. Prudential Financial had a net margin of 4.65% and a return on equity of 16.60%. Equities research analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Tuesday, November 18th were paid a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $5.40 annualized dividend and a dividend yield of 4.6%. Prudential Financial’s dividend payout ratio (DPR) is presently 74.18%.

Insider Transactions at Prudential Financial

In other news, SVP Timothy L. Schmidt sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $107.69, for a total transaction of $861,520.00. Following the transaction, the senior vice president directly owned 11,535 shares of the company’s stock, valued at approximately $1,242,204.15. The trade was a 40.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Charles F. Lowrey sold 48,164 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $107.39, for a total value of $5,172,331.96. Following the completion of the sale, the chairman directly owned 165,564 shares of the company’s stock, 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. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on PRU. Weiss Ratings reissued a “hold (c+)” rating on shares of Prudential Financial in a report on Monday, December 8th. Barclays reduced their target price on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods upped their price objective on Prudential Financial from $117.00 to $118.00 and gave the stock a “market perform” rating in a report on Monday, November 3rd. Wolfe Research initiated coverage on Prudential Financial in a report on Tuesday, September 16th. They set a “peer perform” rating on the stock. Finally, Evercore ISI boosted their target price on Prudential Financial from $120.00 to $122.00 and gave the stock an “in-line” rating in a research report on Thursday, October 30th. Ten equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $115.89.

Get Our Latest Report on PRU

Prudential Financial Profile

(Free Report)

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.

See Also

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