Prudential Financial, Inc. $PRU Shares Bought by Private Trust Co. NA

Private Trust Co. NA raised its holdings in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,415 shares of the financial services provider’s stock after acquiring an additional 247 shares during the period. Private Trust Co. NA’s holdings in Prudential Financial were worth $582,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PRU. Nuveen LLC acquired a new stake in Prudential Financial during the 1st quarter valued at approximately $90,010,000. Goldman Sachs Group Inc. lifted its stake in Prudential Financial by 19.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,206,453 shares of the financial services provider’s stock valued at $469,777,000 after acquiring an additional 678,028 shares during the period. Nordea Investment Management AB lifted its stake in Prudential Financial by 49.2% during the 2nd quarter. Nordea Investment Management AB now owns 1,720,781 shares of the financial services provider’s stock valued at $184,192,000 after acquiring an additional 567,571 shares during the period. Amundi lifted its stake in Prudential Financial by 14.1% during the 1st quarter. Amundi now owns 1,751,633 shares of the financial services provider’s stock valued at $183,571,000 after acquiring an additional 216,119 shares during the period. Finally, AQR Capital Management LLC lifted its stake in Prudential Financial by 72.8% during the 1st quarter. AQR Capital Management LLC now owns 424,659 shares of the financial services provider’s stock valued at $46,789,000 after acquiring an additional 178,888 shares during the period. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $109.65, for a total transaction of $438,600.00. Following the completion of the transaction, the executive vice president directly owned 21,506 shares in the company, valued at approximately $2,358,132.90. This represents a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Barclays decreased their price objective on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. Piper Sandler decreased their target price on shares of Prudential Financial from $109.00 to $108.00 and set a “neutral” rating for the company in a research note on Wednesday, July 16th. Wells Fargo & Company decreased their target price on shares of Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 16th. Wolfe Research began coverage on shares of Prudential Financial in a research note on Tuesday, September 16th. They issued a “peer perform” rating for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Prudential Financial in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Prudential Financial currently has a consensus rating of “Hold” and an average target price of $122.27.

Prudential Financial Stock Performance

NYSE:PRU opened at $100.76 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. The company has a fifty day moving average of $105.06 and a two-hundred day moving average of $104.10. The stock has a market capitalization of $35.47 billion, a PE ratio of 22.34, a P/E/G ratio of 0.89 and a beta of 1.04. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share for the quarter. The company had revenue of $8.35 billion during the quarter. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. As a group, research analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th were given a dividend of $1.35 per share. The ex-dividend date was Tuesday, August 19th. This represents a $5.40 dividend on an annualized basis and a yield of 5.4%. Prudential Financial’s dividend payout ratio is currently 119.73%.

Prudential Financial 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.