Prudential Financial, Inc. (NYSE:PRU) Shares Bought by Private Trust Co. NA

Private Trust Co. NA lifted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 11.3% during the third quarter, Holdings Channel reports. The firm owned 4,092 shares of the financial services provider’s stock after acquiring an additional 417 shares during the quarter. Private Trust Co. NA’s holdings in Prudential Financial were worth $496,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in PRU. First Horizon Advisors Inc. lifted its stake in Prudential Financial by 4.3% in the third quarter. First Horizon Advisors Inc. now owns 162,685 shares of the financial services provider’s stock valued at $19,701,000 after buying an additional 6,641 shares during the last quarter. ORG Partners LLC acquired a new stake in Prudential Financial during the 2nd quarter worth $156,000. PGGM Investments increased its stake in Prudential Financial by 98.0% in the second quarter. PGGM Investments now owns 64,277 shares of the financial services provider’s stock valued at $7,533,000 after purchasing an additional 31,807 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Prudential Financial by 49.5% in the first quarter. Janus Henderson Group PLC now owns 80,148 shares of the financial services provider’s stock valued at $9,409,000 after buying an additional 26,520 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C acquired a new stake in shares of Prudential Financial during the second quarter worth about $530,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 261,059 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The shares were acquired at an average price of $27.58 per share, for a total transaction of $7,200,007.22. Following the completion of the acquisition, the insider now directly owns 4,208,549 shares of the company’s stock, valued at $116,071,781.42. This trade represents a 6.61 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Caroline Feeney sold 1,110 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.97, for a total value of $133,166.70. Following the completion of the transaction, the executive vice president now owns 10,175 shares of the company’s stock, valued at $1,220,694.75. The trade was a 9.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Bank of America upped their price objective on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Piper Sandler increased their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Wells Fargo & Company lifted their price target on Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $121.00 target price on shares of Prudential Financial in a report on Wednesday, August 21st. Finally, Argus upgraded shares of Prudential Financial to a “strong-buy” rating in a report on Thursday, August 8th. Eleven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Prudential Financial currently has an average rating of “Hold” and a consensus price target of $125.92.

Prudential Financial Stock Performance

Shares of PRU opened at $129.52 on Thursday. The company has a 50-day moving average of $123.93 and a two-hundred day moving average of $119.96. The stock has a market cap of $46.11 billion, a P/E ratio of 11.51, a PEG ratio of 0.91 and a beta of 1.29. Prudential Financial, Inc. has a 12-month low of $95.10 and a 12-month high of $130.55. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The firm had revenue of $19.48 billion for the quarter, compared to analysts’ expectations of $14.57 billion. During the same quarter in the prior year, the firm earned $3.44 EPS. As a group, research analysts predict that Prudential Financial, Inc. will post 13.33 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.01%. The ex-dividend date is Tuesday, November 19th. Prudential Financial’s payout ratio is 46.22%.

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.