Cibc World Market Inc. Has $7.89 Million Holdings in Prudential Financial, Inc. $PRU

Cibc World Market Inc. boosted its stake in Prudential Financial, Inc. (NYSE:PRU) by 32.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,085 shares of the financial services provider’s stock after purchasing an additional 17,732 shares during the period. Cibc World Market Inc.’s holdings in Prudential Financial were worth $7,888,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PRU. Keating Financial Advisory Services Inc. lifted 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 acquiring an additional 102 shares during the period. Rossby Financial LCC raised its holdings in Prudential Financial by 32.4% during the 4th quarter. Rossby Financial LCC now owns 421 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 103 shares during the last quarter. TD Private Client Wealth LLC lifted its position in shares of Prudential Financial by 5.6% in the 4th quarter. TD Private Client Wealth LLC now owns 1,972 shares of the financial services provider’s stock worth $223,000 after purchasing an additional 104 shares during the period. Western Wealth Management LLC boosted its stake in shares of Prudential Financial by 1.7% in the 4th quarter. Western Wealth Management LLC now owns 6,215 shares of the financial services provider’s stock valued at $702,000 after purchasing an additional 105 shares during the last quarter. Finally, Apella Capital LLC boosted its stake in shares of 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 purchasing an additional 106 shares during the last quarter. 56.83% of the stock is owned by institutional investors.

Prudential Financial Trading Down 2.1%

PRU opened at $120.09 on Wednesday. The company has a fifty day moving average price of $117.15 and a two-hundred day moving average price of $105.90. Prudential Financial, Inc. has a 1-year low of $91.89 and a 1-year high of $127.72. The company has a market cap of $41.43 billion, a P/E ratio of 10.88, a price-to-earnings-growth ratio of 2.32 and a beta of 0.84. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.62.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, August 4th. The financial services provider reported $4.08 EPS for the quarter, beating the consensus estimate of $3.52 by $0.56. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%.The company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.36 billion. During the same period last year, the business posted $3.58 EPS. Analysts predict that Prudential Financial, Inc. will post 14.24 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th will be issued a dividend of $1.40 per share. The ex-dividend date is Tuesday, August 25th. This represents a $5.60 annualized dividend and a dividend yield of 4.7%. Prudential Financial’s payout ratio is currently 50.72%.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the business’s stock in a transaction 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 completion of the sale, the insider owned 7,973,657 shares in the company, valued at approximately $197,348,010.75. The trade was a 2.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Ann M. Kappler sold 7,652 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $125.01, for a total transaction of $956,576.52. Following the transaction, the executive vice president owned 14,407 shares in the company, valued at approximately $1,801,019.07. The trade was a 34.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.05% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Prudential Financial from $129.00 to $131.00 and gave the stock a “neutral” rating in a research note on Monday, August 17th. TD Cowen increased their price target on Prudential Financial from $102.00 to $114.00 and gave the stock a “hold” rating in a report on Wednesday, July 22nd. Wells Fargo & Company lifted their price objective on Prudential Financial from $103.00 to $110.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 19th. Jefferies Financial Group upped their target price on Prudential Financial from $105.00 to $110.00 and gave the company a “hold” rating in a research report on Friday, July 10th. Finally, Argus cut Prudential Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, June 9th. One equities 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $109.31.

About Prudential Financial

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.