Cable Hill Partners LLC Has $253,000 Holdings in Prudential Financial, Inc. (NYSE:PRU)

Cable Hill Partners LLC increased its position in Prudential Financial, Inc. (NYSE:PRU) by 8.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,092 shares of the financial services provider’s stock after purchasing an additional 167 shares during the period. Cable Hill Partners LLC’s holdings in Prudential Financial were worth $253,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Creekmur Asset Management LLC grew its stake in Prudential Financial by 78.8% in the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $29,000 after buying an additional 108 shares in the last quarter. Lynx Investment Advisory purchased a new position in Prudential Financial during the second quarter valued at $29,000. Ashton Thomas Securities LLC bought a new stake in Prudential Financial during the third quarter worth about $31,000. Strategic Financial Concepts LLC raised its stake in Prudential Financial by 1,312.4% during the second quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock valued at $32,000 after buying an additional 25,027 shares during the last quarter. Finally, Crewe Advisors LLC bought a new position in Prudential Financial in the 1st quarter worth about $33,000. 56.83% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total transaction of $133,166.70. Following the completion of the transaction, the executive vice president now directly owns 10,175 shares of the company’s stock, valued at approximately $1,220,694.75. This trade represents a 9.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the stock in a transaction dated Tuesday, October 8th. The stock was acquired at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the purchase, the insider now directly owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. The trade was a 6.61 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.31% of the stock is owned by company insiders.

Prudential Financial Stock Performance

Shares of PRU opened at $125.75 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14. The company’s fifty day moving average is $121.76 and its two-hundred day moving average is $119.06. Prudential Financial, Inc. has a 1 year low of $93.32 and a 1 year high of $129.13. The stock has a market capitalization of $44.77 billion, a P/E ratio of 11.18, a P/E/G ratio of 0.89 and a beta of 1.29.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.01. The firm had revenue of $19.48 billion during the quarter, compared to the consensus estimate of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same period in the previous year, the firm posted $3.44 EPS. On average, sell-side analysts predict that Prudential Financial, Inc. will post 13.33 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, December 12th. Shareholders of record on Tuesday, November 19th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date of this dividend is Tuesday, November 19th. Prudential Financial’s dividend payout ratio is presently 46.22%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PRU. Piper Sandler boosted their price objective on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Wells Fargo & Company raised their price target on Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Citigroup lifted their target price on Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and boosted their target price for the company from $117.00 to $140.00 in a research report on Thursday. Finally, UBS Group boosted their target price on shares of Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Eleven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Prudential Financial has a consensus rating of “Hold” and an average target price of $125.69.

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.