Country Club Bank Cuts Position in Prudential Financial, Inc. (NYSE:PRU)

Country Club Bank lessened its stake in Prudential Financial, Inc. (NYSE:PRU) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,416 shares of the financial services provider’s stock after selling 1,420 shares during the quarter. Country Club Bank’s holdings in Prudential Financial were worth $8,674,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PRU. International Assets Investment Management LLC increased its holdings in shares of Prudential Financial by 4,130.8% in the 3rd quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock valued at $157,219,000 after purchasing an additional 1,267,571 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Prudential Financial by 176.8% in the 4th quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider’s stock valued at $123,804,000 after purchasing an additional 665,180 shares in the last quarter. FMR LLC increased its holdings in shares of Prudential Financial by 31.3% in the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock valued at $174,903,000 after purchasing an additional 344,254 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Prudential Financial by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock valued at $1,047,872,000 after purchasing an additional 341,787 shares in the last quarter. Finally, Capital Advisors Inc. OK purchased a new position in Prudential Financial during the 3rd quarter valued at about $30,226,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Price Performance

Prudential Financial stock opened at $117.91 on Wednesday. Prudential Financial, Inc. has a 1 year low of $101.72 and a 1 year high of $130.55. The firm has a 50 day moving average price of $120.61 and a 200 day moving average price of $120.50. The company has a market cap of $41.97 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 1.12 and a beta of 1.31. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.14 and a current ratio of 0.14.

Prudential Financial (NYSE:PRU) last released its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. Sell-side analysts predict that Prudential Financial, Inc. will post 13.24 earnings per share for the current year.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was bought at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the completion of the purchase, the insider now directly owns 4,780,293 shares in the company, valued at $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 hyperlink. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

PRU has been the subject of several recent research reports. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and raised their target price for the company from $117.00 to $140.00 in a report on Thursday, November 14th. Keefe, Bruyette & Woods dropped their target price on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a report on Thursday, January 16th. Piper Sandler dropped their target price on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. BMO Capital Markets started coverage on shares of Prudential Financial in a report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 target price for the company. Finally, Barclays lifted their price target on shares of Prudential Financial from $127.00 to $128.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Prudential Financial has a consensus rating of “Hold” and an average price target of $125.31.

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.