CHICAGO TRUST Co NA Has $2.38 Million Position in Prudential Financial, Inc. (NYSE:PRU)

CHICAGO TRUST Co NA lowered its holdings in Prudential Financial, Inc. (NYSE:PRU) by 3.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 21,345 shares of the financial services provider’s stock after selling 801 shares during the quarter. CHICAGO TRUST Co NA’s holdings in Prudential Financial were worth $2,384,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Centricity Wealth Management LLC acquired a new stake in Prudential Financial in the 4th quarter valued at $29,000. Wingate Wealth Advisors Inc. bought a new position in Prudential Financial during the 4th quarter valued at $33,000. Hopwood Financial Services Inc. bought a new position in Prudential Financial during the 4th quarter valued at $34,000. Lee Danner & Bass Inc. bought a new position in Prudential Financial during the 4th quarter valued at $35,000. Finally, TCTC Holdings LLC bought a new position in Prudential Financial during the 4th quarter valued at $37,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of Prudential Financial stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $105.98, for a total transaction of $635,880.00. Following the completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of Prudential Financial stock in a transaction on Tuesday, March 25th. The shares were bought at an average cost of $28.52 per share, with a total value of $1,500,009.40. Following the acquisition, the insider now directly owns 139,987 shares in the company, valued at approximately $3,992,429.24. This represents a 60.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.25% of the company’s stock.

Prudential Financial Trading Up 1.8%

Shares of Prudential Financial stock opened at $105.63 on Monday. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $130.55. The stock’s 50-day simple moving average is $102.63 and its 200 day simple moving average is $111.75. The stock has a market capitalization of $37.39 billion, a P/E ratio of 14.14, a P/E/G ratio of 0.98 and a beta of 1.07. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $3.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.11. Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. The business had revenue of $13.61 billion for the quarter, compared to analysts’ expectations of $14.76 billion. During the same period in the previous year, the business posted $3.12 EPS. The firm’s quarterly revenue was down 38.2% compared to the same quarter last year. As a group, research analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Tuesday, May 20th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date is Tuesday, May 20th. Prudential Financial’s payout ratio is presently 85.58%.

Analyst Ratings Changes

Several brokerages have weighed in on PRU. Piper Sandler dropped their price objective on Prudential Financial from $110.00 to $109.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. UBS Group dropped their price objective on Prudential Financial from $122.00 to $110.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 27th. Wall Street Zen cut Prudential Financial from a “hold” rating to a “sell” rating in a research note on Sunday. JPMorgan Chase & Co. lowered their target price on Prudential Financial from $128.00 to $126.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods lowered their target price on Prudential Financial from $120.00 to $117.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $120.15.

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.