Prudential Financial, Inc. (NYSE:PRU) Holdings Raised by Hancock Whitney Corp

Hancock Whitney Corp grew its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 2.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,957 shares of the financial services provider’s stock after acquiring an additional 310 shares during the period. Hancock Whitney Corp’s holdings in Prudential Financial were worth $1,654,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Barclays PLC grew its holdings in Prudential Financial by 11.0% in the 3rd quarter. Barclays PLC now owns 1,062,776 shares of the financial services provider’s stock valued at $128,700,000 after buying an additional 105,089 shares during the last quarter. World Investment Advisors LLC increased its position in Prudential Financial by 4.8% during the third quarter. World Investment Advisors LLC now owns 2,792 shares of the financial services provider’s stock worth $338,000 after acquiring an additional 127 shares during the period. Arvest Bank Trust Division acquired a new position in Prudential Financial during the 3rd quarter valued at $2,294,000. Tidal Investments LLC boosted its holdings in Prudential Financial by 22.5% in the 3rd quarter. Tidal Investments LLC now owns 18,967 shares of the financial services provider’s stock valued at $2,297,000 after purchasing an additional 3,483 shares during the period. Finally, Synovus Financial Corp grew its position in Prudential Financial by 22.1% in the 3rd quarter. Synovus Financial Corp now owns 3,004 shares of the financial services provider’s stock worth $364,000 after purchasing an additional 543 shares during the last quarter. 56.83% of the stock is currently owned by hedge funds and other institutional investors.

Prudential Financial Trading Down 1.1 %

Shares of NYSE PRU opened at $102.85 on Friday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The company has a market cap of $36.45 billion, a PE ratio of 13.77, a P/E/G ratio of 0.98 and a beta of 1.11. The company has a 50-day moving average of $106.64 and a two-hundred day moving average of $116.22. Prudential Financial, Inc. has a 1-year low of $90.38 and a 1-year high of $130.55.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 EPS 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%. As a group, equities analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 5.25%. The ex-dividend date of this dividend was Tuesday, February 18th. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio (DPR) is 72.29%.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential bought 87,047 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were purchased at an average price of $28.72 per share, with a total value of $2,499,989.84. Following the completion of the purchase, the insider now owns 87,047 shares of the company’s stock, valued at $2,499,989.84. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Andrew F. Sullivan sold 6,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total value of $635,880.00. Following the transaction, the executive vice president now owns 27,072 shares of the company’s stock, valued at $2,869,090.56. The trade was a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PRU has been the subject of a number of research reports. Piper Sandler reduced their price objective on Prudential Financial from $122.00 to $110.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. Keefe, Bruyette & Woods lowered their price target on shares of Prudential Financial from $125.00 to $120.00 and set a “market perform” rating on the stock in a report on Wednesday, April 9th. UBS Group decreased their target price on shares of Prudential Financial from $130.00 to $122.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. BMO Capital Markets began coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 price target for the company. Finally, Morgan Stanley decreased their price objective on Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $121.85.

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.