Private Trust Co. NA Boosts Stock Holdings in Prudential Financial, Inc. (NYSE:PRU)

Private Trust Co. NA lifted its position in Prudential Financial, Inc. (NYSE:PRU) by 11.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,092 shares of the financial services provider’s stock after acquiring an additional 417 shares during the period. Private Trust Co. NA’s holdings in Prudential Financial were worth $496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Lynx Investment Advisory purchased a new stake in shares of Prudential Financial during the second quarter worth $29,000. Ashton Thomas Securities LLC acquired a new stake in Prudential Financial in the 3rd quarter valued at about $31,000. Strategic Financial Concepts LLC lifted its stake in Prudential Financial by 1,312.4% in the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 25,027 shares in the last quarter. Bank & Trust Co purchased a new stake in shares of Prudential Financial in the second quarter valued at approximately $37,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Prudential Financial in the second quarter valued at approximately $38,000. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PRU. Piper Sandler upped their target price on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Bank of America upped their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Wells Fargo & Company lifted their target price on shares of Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Barclays increased their price target on shares of Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Finally, Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price target for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. Eleven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $125.92.

Insider Buying and Selling

In other news, EVP Caroline Feeney sold 1,110 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the sale, 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 Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the company’s stock in a transaction that occurred on 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 acquisition, the insider now directly owns 4,208,549 shares of the company’s stock, valued at $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. 0.34% of the stock is currently owned by insiders.

Prudential Financial Price Performance

PRU stock opened at $129.52 on Thursday. The business’s fifty day moving average price is $123.93 and its 200 day moving average price is $119.96. Prudential Financial, Inc. has a 12-month low of $95.10 and a 12-month high of $130.55. The company has a market capitalization of $46.11 billion, a PE ratio of 11.51, a P/E/G ratio of 0.91 and a beta of 1.29. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings results 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. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The business had revenue of $19.48 billion for the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter in the prior year, the company earned $3.44 earnings per share. On average, sell-side analysts anticipate that Prudential Financial, Inc. will post 13.33 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be issued a $1.30 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a yield of 4.01%. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

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.