Trust Co. of Toledo NA OH Acquires Shares of 1,232 Prudential Financial, Inc. $PRU

Trust Co. of Toledo NA OH acquired a new stake in Prudential Financial, Inc. (NYSE:PRU) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,232 shares of the financial services provider’s stock, valued at approximately $132,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in Prudential Financial by 3.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 20,771 shares of the financial services provider’s stock valued at $2,320,000 after purchasing an additional 721 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Prudential Financial by 3.0% during the 1st quarter. Acadian Asset Management LLC now owns 109,447 shares of the financial services provider’s stock valued at $12,217,000 after buying an additional 3,183 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in shares of Prudential Financial by 728.4% during the 1st quarter. Golden State Wealth Management LLC now owns 845 shares of the financial services provider’s stock valued at $94,000 after buying an additional 743 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Prudential Financial by 68.2% during the 1st quarter. HighTower Advisors LLC now owns 110,794 shares of the financial services provider’s stock valued at $12,373,000 after buying an additional 44,937 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Prudential Financial by 9.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,501 shares of the financial services provider’s stock valued at $279,000 after buying an additional 222 shares during the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PRU has been the topic of a number of research analyst reports. Wolfe Research initiated coverage on shares of Prudential Financial in a research note on Tuesday, September 16th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. increased their price target on shares of Prudential Financial from $126.00 to $136.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Piper Sandler reduced their price target on shares of Prudential Financial from $109.00 to $108.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 16th. Barclays reduced their target price on Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. Finally, 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. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $122.27.

Prudential Financial Stock Performance

Shares of NYSE PRU opened at $99.08 on Monday. The stock has a market capitalization of $34.88 billion, a P/E ratio of 21.97, a P/E/G ratio of 0.88 and a beta of 1.04. Prudential Financial, Inc. has a 52-week low of $90.38 and a 52-week high of $130.55. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.60. The firm’s 50-day moving average price is $105.15 and its two-hundred day moving average price is $104.40.

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

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date was Tuesday, August 19th. Prudential Financial’s dividend payout ratio (DPR) is presently 119.73%.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $2,358,132.90. The trade was a 15.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is owned by insiders.

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.