Chesapeake Capital Corp IL Boosts Stock Position in Prudential Financial, Inc. $PRU

Chesapeake Capital Corp IL lifted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 350.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,606 shares of the financial services provider’s stock after purchasing an additional 7,472 shares during the period. Prudential Financial accounts for approximately 0.9% of Chesapeake Capital Corp IL’s portfolio, making the stock its 29th largest position. Chesapeake Capital Corp IL’s holdings in Prudential Financial were worth $1,084,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Summit Global Investments raised its stake in Prudential Financial by 71.1% in the third quarter. Summit Global Investments now owns 13,021 shares of the financial services provider’s stock worth $1,351,000 after buying an additional 5,412 shares in the last quarter. VCI Wealth Management LLC raised its stake in Prudential Financial by 117.1% in the fourth quarter. VCI Wealth Management LLC now owns 19,292 shares of the financial services provider’s stock worth $2,178,000 after buying an additional 10,404 shares in the last quarter. KBC Group NV raised its stake in Prudential Financial by 94.3% in the fourth quarter. KBC Group NV now owns 157,538 shares of the financial services provider’s stock worth $17,783,000 after buying an additional 76,461 shares in the last quarter. Machina Capital S.A.S. bought a new position in Prudential Financial in the third quarter worth about $1,285,000. Finally, First Horizon Corp bought a new position in Prudential Financial in the third quarter worth about $5,856,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Prudential Financial

In related news, Director Thomas D. Stoddard bought 250 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were bought at an average price of $102.97 per share, for a total transaction of $25,742.50. Following the completion of the acquisition, the director owned 250 shares of the company’s stock, valued at $25,742.50. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph J. Wolk bought 400 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was bought at an average price of $105.32 per share, for a total transaction of $42,128.00. Following the acquisition, the director directly owned 400 shares of the company’s stock, valued at $42,128. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.05% of the company’s stock.

Prudential Financial Price Performance

Shares of PRU opened at $100.76 on Friday. The company has a market capitalization of $34.96 billion, a P/E ratio of 10.37, a price-to-earnings-growth ratio of 1.81 and a beta of 0.86. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The firm has a 50 day moving average of $96.87 and a 200 day moving average of $104.57. Prudential Financial, Inc. has a twelve month low of $91.89 and a twelve month high of $119.76.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.52. The company had revenue of $15.23 billion during the quarter, compared to the consensus estimate of $14.10 billion. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. During the same quarter last year, the firm earned $3.29 earnings per share. As a group, equities research analysts anticipate that Prudential Financial, Inc. will post 13.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Evercore reissued a “negative” rating on shares of Prudential Financial in a research note on Friday, March 6th. Keefe, Bruyette & Woods decreased their price target on shares of Prudential Financial from $104.00 to $100.00 and set a “market perform” rating for the company in a research note on Thursday, April 23rd. Morgan Stanley reaffirmed an “underweight” rating and set a $92.00 target price (down from $106.00) on shares of Prudential Financial in a research note on Monday, May 4th. JPMorgan Chase & Co. decreased their target price on shares of Prudential Financial from $133.00 to $127.00 and set a “neutral” rating for the company in a research note on Wednesday, February 4th. Finally, Piper Sandler decreased their target price on shares of Prudential Financial from $105.00 to $99.00 and set a “neutral” rating for the company in a research note on Wednesday, April 22nd. Nine investment analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $99.92.

Prudential Financial Company 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.