Chase Investment Counsel Corp Increases Stock Position in Prudential Financial, Inc. (NYSE:PRU)

Chase Investment Counsel Corp increased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 5.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,848 shares of the financial services provider’s stock after buying an additional 201 shares during the period. Chase Investment Counsel Corp’s holdings in Prudential Financial were worth $399,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in PRU. Cambridge Trust Co. lifted its holdings in Prudential Financial by 77.2% during the fourth quarter. Cambridge Trust Co. now owns 241 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 105 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new position in Prudential Financial during the fourth quarter valued at $26,000. Headinvest LLC purchased a new position in Prudential Financial during the third quarter valued at $27,000. Arlington Trust Co LLC lifted its holdings in Prudential Financial by 151.6% during the fourth quarter. Arlington Trust Co LLC now owns 307 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 185 shares in the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE purchased a new position in Prudential Financial during the third quarter valued at $39,000. 56.83% of the stock is owned by hedge funds and other institutional investors.

Prudential Financial Stock Performance

PRU stock opened at $111.94 on Tuesday. Prudential Financial, Inc. has a 1 year low of $77.22 and a 1 year high of $118.69. The stock’s fifty day moving average is $111.84 and its two-hundred day moving average is $103.99. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. The stock has a market capitalization of $40.19 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 0.75 and a beta of 1.37.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $2.58 EPS for the quarter, missing the consensus estimate of $2.67 by ($0.09). The business had revenue of $13.02 billion during the quarter, compared to the consensus estimate of $12.99 billion. Prudential Financial had a return on equity of 14.52% and a net margin of 4.89%. Prudential Financial’s revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.42 earnings per share. On average, research analysts predict that Prudential Financial, Inc. will post 13.38 EPS for the current year.

Prudential Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Tuesday, February 20th were paid a $1.30 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $5.20 dividend on an annualized basis and a yield of 4.65%. This is a boost from Prudential Financial’s previous quarterly dividend of $1.25. Prudential Financial’s dividend payout ratio (DPR) is currently 77.73%.

Insider Buying and Selling

In related news, EVP Ann M. Kappler sold 7,222 shares of Prudential Financial stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total value of $782,792.58. Following the transaction, the executive vice president now owns 24,381 shares of the company’s stock, valued at approximately $2,642,656.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Prudential Financial news, EVP Ann M. Kappler sold 7,222 shares of Prudential Financial stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total transaction of $782,792.58. Following the transaction, the executive vice president now owns 24,381 shares of the company’s stock, valued at approximately $2,642,656.59. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Robert Axel sold 6,436 shares of Prudential Financial stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $111.86, for a total value of $719,930.96. Following the transaction, the senior vice president now directly owns 7,901 shares in the company, valued at approximately $883,805.86. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,255 shares of company stock valued at $3,215,664. 0.34% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Morgan Stanley increased their target price on shares of Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Piper Sandler increased their target price on shares of Prudential Financial from $114.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Raymond James cut shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. restated a “neutral” rating and set a $118.00 price objective (down from $119.00) on shares of Prudential Financial in a research report on Wednesday, January 3rd. Finally, Evercore ISI raised their price objective on shares of Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $111.42.

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.