Parkside Financial Bank & Trust Sells 89 Shares of Prudential Financial, Inc. (NYSE:PRU)

Parkside Financial Bank & Trust cut its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 3.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,616 shares of the financial services provider’s stock after selling 89 shares during the period. Parkside Financial Bank & Trust’s holdings in Prudential Financial were worth $310,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Glenmede Trust Co. NA lifted its stake in Prudential Financial by 7.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 17,968 shares of the financial services provider’s stock valued at $2,176,000 after acquiring an additional 1,234 shares in the last quarter. Avanza Fonder AB bought a new stake in shares of Prudential Financial during the 4th quarter worth $3,423,000. Gateway Investment Advisers LLC raised its stake in shares of Prudential Financial by 56.1% during the 4th quarter. Gateway Investment Advisers LLC now owns 21,998 shares of the financial services provider’s stock worth $2,607,000 after purchasing an additional 7,907 shares during the period. Principal Financial Group Inc. raised its stake in shares of Prudential Financial by 3.9% during the 3rd quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock worth $50,830,000 after purchasing an additional 15,695 shares during the period. Finally, Janus Henderson Group PLC raised its stake in shares of Prudential Financial by 2.3% during the 3rd quarter. Janus Henderson Group PLC now owns 79,256 shares of the financial services provider’s stock worth $9,597,000 after purchasing an additional 1,765 shares during the period. 56.83% of the stock is currently owned by institutional investors.

Prudential Financial Stock Up 2.1 %

PRU stock opened at $115.07 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $41.20 billion, a PE ratio of 15.40, a PEG ratio of 0.98 and a beta of 1.31. Prudential Financial, Inc. has a twelve month low of $104.44 and a twelve month high of $130.55. The stock has a 50-day simple moving average of $116.35 and a two-hundred day simple moving average of $119.77.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. On average, equities analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $1.35 per share. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $5.40 annualized dividend and a dividend yield of 4.69%. Prudential Financial’s payout ratio is presently 72.29%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Piper Sandler lowered their target price on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Wells Fargo & Company lifted their target price on Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. Barclays lifted their target price on Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and lifted their target price for the stock from $117.00 to $140.00 in a research note on Thursday, November 14th. Finally, Morgan Stanley decreased their price objective on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating for the company in a report on Friday. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and an average target price of $126.15.

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.