Crews Bank & Trust Has $59,000 Stake in Prudential Financial, Inc. $PRU

Crews Bank & Trust increased its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 36.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 547 shares of the financial services provider’s stock after purchasing an additional 146 shares during the quarter. Crews Bank & Trust’s holdings in Prudential Financial were worth $59,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PRU. Invesco Ltd. increased its stake in shares of Prudential Financial by 2.7% in the 1st quarter. Invesco Ltd. now owns 4,440,003 shares of the financial services provider’s stock valued at $495,859,000 after buying an additional 116,079 shares during the period. Goldman Sachs Group Inc. increased its position in Prudential Financial by 19.2% in the first quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider’s stock worth $469,777,000 after purchasing an additional 678,028 shares during the period. Ameriprise Financial Inc. lifted its position in Prudential Financial by 5.6% during the 1st quarter. Ameriprise Financial Inc. now owns 1,801,551 shares of the financial services provider’s stock valued at $201,201,000 after purchasing an additional 95,021 shares during the period. Amundi boosted its stake in shares of Prudential Financial by 14.1% in the 1st quarter. Amundi now owns 1,751,633 shares of the financial services provider’s stock valued at $183,571,000 after purchasing an additional 216,119 shares during the last quarter. Finally, Deutsche Bank AG grew its position in shares of Prudential Financial by 2.3% during the 1st quarter. Deutsche Bank AG now owns 1,284,466 shares of the financial services provider’s stock worth $143,449,000 after buying an additional 29,025 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Prudential Financial from $126.00 to $136.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. Weiss Ratings restated a “hold (c)” rating on shares of Prudential Financial in a research report on Saturday, September 27th. Wolfe Research began coverage on Prudential Financial in a report on Tuesday, September 16th. They issued a “peer perform” rating for the company. Wells Fargo & Company reduced their target price on Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 16th. Finally, Morgan Stanley upped their price target on Prudential Financial from $113.00 to $117.00 and gave the company an “equal weight” rating in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $122.08.

Insider Buying and Selling

In related news, EVP Ann M. Kappler sold 4,000 shares of the business’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $109.65, for a total value of $438,600.00. Following the sale, the executive vice president directly owned 21,506 shares of the company’s stock, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Prudential Financial Stock Up 2.0%

Shares of Prudential Financial stock opened at $104.01 on Friday. The company has a market capitalization of $36.61 billion, a P/E ratio of 23.06, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16. The business has a 50-day moving average of $105.19 and a two-hundred day moving average of $104.88. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.36. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%.The business had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.47 billion. During the same period in the previous year, the firm earned $3.39 EPS. Prudential Financial’s quarterly revenue was down 2.5% compared to the same quarter last year. As a group, equities analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Tuesday, August 19th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $5.40 annualized dividend and a dividend yield of 5.2%. Prudential Financial’s dividend payout ratio is currently 119.73%.

About Prudential Financial

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.