Fidelis Capital Partners LLC Has $702,000 Stake in Prudential Financial, Inc. $PRU

Fidelis Capital Partners LLC raised its stake in Prudential Financial, Inc. (NYSE:PRU) by 228.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,767 shares of the financial services provider’s stock after purchasing an additional 4,708 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Prudential Financial were worth $702,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. TD Waterhouse Canada Inc. raised its position in Prudential Financial by 11.0% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 26,241 shares of the financial services provider’s stock valued at $2,704,000 after buying an additional 2,607 shares during the last quarter. Coastal Bridge Advisors LLC boosted its holdings in Prudential Financial by 6.4% during the 3rd quarter. Coastal Bridge Advisors LLC now owns 2,064 shares of the financial services provider’s stock worth $214,000 after acquiring an additional 125 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Prudential Financial by 19.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,241 shares of the financial services provider’s stock worth $5,523,000 after acquiring an additional 8,519 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Prudential Financial by 0.7% in the third quarter. Federated Hermes Inc. now owns 1,095,031 shares of the financial services provider’s stock valued at $113,599,000 after purchasing an additional 7,526 shares during the last quarter. Finally, Principle Wealth Partners LLC lifted its position in shares of Prudential Financial by 3.5% during the third quarter. Principle Wealth Partners LLC now owns 43,796 shares of the financial services provider’s stock valued at $4,543,000 after purchasing an additional 1,463 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

Prudential Financial stock opened at $109.82 on Friday. The business’s 50 day simple moving average is $112.69 and its 200 day simple moving average is $107.29. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $123.41. The company has a market cap of $38.44 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 1.19 and a beta of 0.97. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, October 29th. The financial services provider reported $4.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.72 by $0.54. Prudential Financial had a return on equity of 16.60% and a net margin of 4.65%.The firm had revenue of $17.89 billion for the quarter, compared to analyst estimates of $13.77 billion. During the same period in the previous year, the company posted $3.48 earnings per share. Sell-side analysts forecast that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $5.40 annualized dividend and a yield of 4.9%. Prudential Financial’s dividend payout ratio is 74.18%.

Insider Buying and Selling at Prudential Financial

In other news, Chairman Charles F. Lowrey sold 48,164 shares of Prudential Financial stock in a transaction dated 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 completion of the transaction, the chairman owned 165,564 shares in the company, valued at $17,779,917.96. This trade represents a 22.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Insurance Co Of Ame Prudential purchased 1,406,739 shares of the stock in a transaction dated Friday, January 23rd. The stock was acquired at an average cost of $24.87 per share, for a total transaction of $34,985,598.93. Following the transaction, the insider owned 7,709,624 shares of the company’s stock, valued at approximately $191,738,348.88. This trade represents a 22.32% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold 62,719 shares of company stock worth $6,796,067 over the last ninety days. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PRU shares. Evercore ISI upped their price objective on shares of Prudential Financial from $120.00 to $122.00 and gave the stock an “in-line” rating in a research report on Thursday, October 30th. Wall Street Zen downgraded Prudential Financial from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Piper Sandler increased their price target on Prudential Financial from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, December 23rd. Barclays cut their price objective on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Finally, Morgan Stanley upped their price objective on Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $120.78.

Prudential Financial Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.