CNB Bank Has $815,000 Stock Position in Prudential Financial, Inc. (NYSE:PRU)

CNB Bank lessened its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,875 shares of the financial services provider’s stock after selling 395 shares during the quarter. CNB Bank’s holdings in Prudential Financial were worth $815,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Citizens Financial Group Inc. RI boosted its position in Prudential Financial by 90.7% during the second quarter. Citizens Financial Group Inc. RI now owns 4,111 shares of the financial services provider’s stock worth $482,000 after purchasing an additional 1,955 shares during the period. Edgestream Partners L.P. bought a new stake in shares of Prudential Financial in the second quarter valued at about $258,000. Meiji Yasuda Life Insurance Co acquired a new position in shares of Prudential Financial in the second quarter valued at about $857,000. Mercer Global Advisors Inc. ADV increased its position in Prudential Financial by 0.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 34,074 shares of the financial services provider’s stock worth $3,993,000 after acquiring an additional 291 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Prudential Financial by 389.6% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 25,161 shares of the financial services provider’s stock valued at $2,949,000 after purchasing an additional 20,022 shares during the period. Institutional investors own 56.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PRU. TD Cowen boosted their price target on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and upped their target price for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. Barclays raised their price target on Prudential Financial from $119.00 to $129.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Keefe, Bruyette & Woods cut their price objective on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a research report on Thursday. Finally, Bank of America raised their target price 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. Eleven investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $127.42.

Prudential Financial Price Performance

Shares of NYSE:PRU opened at $119.87 on Friday. Prudential Financial, Inc. has a one year low of $100.60 and a one year high of $130.55. The company has a market cap of $42.67 billion, a price-to-earnings ratio of 10.64, a PEG ratio of 0.75 and a beta of 1.31. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The firm has a 50 day simple moving average of $122.23 and a 200 day simple moving average of $120.66.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $14.57 billion. During the same quarter last year, the business earned $3.44 EPS. Research analysts predict that Prudential Financial, Inc. will post 13.34 earnings per share for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were given a $1.30 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.34%. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

Insider Activity

In other news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the acquisition, the insider now directly owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.34% of the company’s stock.

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.