Canada Pension Plan Investment Board Has $57.23 Million Holdings in Prudential Financial, Inc. $PRU

Canada Pension Plan Investment Board boosted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 417.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 530,236 shares of the financial services provider’s stock after purchasing an additional 427,732 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Prudential Financial were worth $57,228,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Keating Financial Advisory Services Inc. raised its stake in shares of Prudential Financial by 34.8% in the second quarter. Keating Financial Advisory Services Inc. now owns 395 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 102 shares during the last quarter. Rossby Financial LCC boosted its position in shares of Prudential Financial by 32.4% during the fourth quarter. Rossby Financial LCC now owns 421 shares of the financial services provider’s stock valued at $48,000 after buying an additional 103 shares during the last quarter. TD Private Client Wealth LLC boosted its position in shares of Prudential Financial by 5.6% during the fourth quarter. TD Private Client Wealth LLC now owns 1,972 shares of the financial services provider’s stock valued at $223,000 after buying an additional 104 shares during the last quarter. Western Wealth Management LLC grew its holdings in Prudential Financial by 1.7% during the fourth quarter. Western Wealth Management LLC now owns 6,215 shares of the financial services provider’s stock worth $702,000 after buying an additional 105 shares in the last quarter. Finally, Apella Capital LLC raised its position in Prudential Financial by 3.7% in the 1st quarter. Apella Capital LLC now owns 2,979 shares of the financial services provider’s stock valued at $303,000 after buying an additional 106 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

Prudential Financial Stock Up 0.2%

Shares of NYSE:PRU opened at $120.43 on Friday. Prudential Financial, Inc. has a 1 year low of $91.89 and a 1 year high of $127.72. The company has a market capitalization of $41.55 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 2.26 and a beta of 0.84. The business has a fifty day moving average price of $117.69 and a two-hundred day moving average price of $106.17. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU) last released its earnings results on Tuesday, August 4th. The financial services provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.52 by $0.56. The company had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.36 billion. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%.During the same period in the previous year, the business posted $3.58 EPS. Analysts forecast that Prudential Financial, Inc. will post 14.3 earnings per share for the current year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Tuesday, August 25th will be given a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $5.60 annualized dividend and a yield of 4.6%. Prudential Financial’s payout ratio is currently 50.72%.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 7,652 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $125.01, for a total value of $956,576.52. Following the transaction, the executive vice president directly owned 14,407 shares in the company, valued at $1,801,019.07. The trade was a 34.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $24.75, for a total transaction of $5,314,963.50. Following the transaction, the insider directly owned 7,973,657 shares of the company’s stock, valued at $197,348,010.75. This represents a 2.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.05% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PRU has been the topic of a number of analyst reports. Mizuho lifted their price objective on shares of Prudential Financial from $101.00 to $109.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Wells Fargo & Company raised their price target on shares of Prudential Financial from $103.00 to $110.00 and gave the company an “underweight” rating in a research report on Wednesday, August 19th. Argus cut shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Tuesday, June 9th. Piper Sandler upped their price objective on shares of Prudential Financial from $110.00 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings raised shares of Prudential Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $109.31.

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.