Centiva Capital LP Boosts Stake in Prudential Financial, Inc. (NYSE:PRU)

Centiva Capital LP grew its holdings in Prudential Financial, Inc. (NYSE:PRU) by 69.1% during the third quarter, HoldingsChannel reports. The firm owned 35,621 shares of the financial services provider’s stock after acquiring an additional 14,550 shares during the period. Centiva Capital LP’s holdings in Prudential Financial were worth $4,314,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PRU. Annex Advisory Services LLC raised its position in shares of Prudential Financial by 3.4% during the 2nd quarter. Annex Advisory Services LLC now owns 2,467 shares of the financial services provider’s stock valued at $289,000 after buying an additional 81 shares during the period. Raymond James Trust N.A. grew its holdings in shares of Prudential Financial by 1.1% during the 2nd quarter. Raymond James Trust N.A. now owns 8,117 shares of the financial services provider’s stock worth $951,000 after purchasing an additional 87 shares during the period. Avidian Wealth Enterprises LLC raised its holdings in Prudential Financial by 1.2% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock valued at $891,000 after buying an additional 89 shares during the period. Quotient Wealth Partners LLC lifted its position in Prudential Financial by 3.9% in the second quarter. Quotient Wealth Partners LLC now owns 2,424 shares of the financial services provider’s stock valued at $284,000 after buying an additional 92 shares during the last quarter. Finally, Daymark Wealth Partners LLC increased its position in shares of Prudential Financial by 3.9% during the third quarter. Daymark Wealth Partners LLC now owns 2,616 shares of the financial services provider’s stock valued at $317,000 after acquiring an additional 97 shares during the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Caroline Feeney sold 1,110 shares of Prudential Financial stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $119.97, for a total value of $133,166.70. Following the transaction, the executive vice president now directly owns 10,175 shares in the company, 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 purchased 261,059 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were bought at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the purchase, the insider now directly owns 4,208,549 shares of the company’s stock, 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. Insiders own 0.31% of the company’s stock.

Prudential Financial Stock Performance

Shares of PRU stock opened at $129.41 on Monday. Prudential Financial, Inc. has a 1 year low of $96.45 and a 1 year high of $130.55. 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 firm has a market cap of $46.07 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 0.93 and a beta of 1.29. The stock’s 50-day moving average is $124.24 and its two-hundred day moving average is $120.12.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping the consensus estimate of $3.47 by $0.01. The company had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same quarter in the previous year, the company posted $3.44 earnings per share. Analysts predict that Prudential Financial, Inc. will post 13.35 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm 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 $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a yield of 4.02%. Prudential Financial’s dividend payout ratio is presently 46.22%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wells Fargo & Company boosted their target price on Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Bank of America raised their target price on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. TD Cowen raised their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Morgan Stanley reduced their target price on shares of Prudential Financial from $123.00 to $122.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Finally, Argus raised Prudential Financial to a “strong-buy” rating in a research report on Thursday, August 8th. Eleven analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $125.92.

Prudential Financial Company 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.