CHICAGO TRUST Co NA Cuts Position in Prudential Financial, Inc. (NYSE:PRU)

CHICAGO TRUST Co NA lowered its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 0.5% during the fourth quarter, HoldingsChannel reports. The firm owned 22,146 shares of the financial services provider’s stock after selling 109 shares during the period. CHICAGO TRUST Co NA’s holdings in Prudential Financial were worth $2,625,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC bought a new stake in shares of Prudential Financial in the second quarter worth $65,000. LPL Financial LLC boosted its holdings in shares of Prudential Financial by 2.7% during the second quarter. LPL Financial LLC now owns 486,064 shares of the financial services provider’s stock valued at $56,962,000 after acquiring an additional 12,718 shares during the period. American Century Companies Inc. boosted its holdings in shares of Prudential Financial by 1.7% during the second quarter. American Century Companies Inc. now owns 574,756 shares of the financial services provider’s stock valued at $67,356,000 after acquiring an additional 9,735 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in shares of Prudential Financial by 0.5% during the second quarter. Oppenheimer & Co. Inc. now owns 33,281 shares of the financial services provider’s stock valued at $3,900,000 after acquiring an additional 164 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Prudential Financial by 8.0% during the second quarter. DekaBank Deutsche Girozentrale now owns 123,494 shares of the financial services provider’s stock valued at $14,434,000 after purchasing an additional 9,152 shares in the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Up 0.7 %

PRU stock traded up $0.83 during midday trading on Monday, reaching $115.36. The stock had a trading volume of 249,106 shares, compared to its average volume of 1,171,544. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a twelve month low of $100.60 and a twelve month high of $130.55. The firm has a market cap of $41.07 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 0.87 and a beta of 1.31. The business has a fifty day simple moving average of $122.52 and a two-hundred day simple moving average of $120.67.

Prudential Financial (NYSE:PRU) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, topping 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 last year, the business earned $3.44 earnings per share. As a group, research analysts expect that Prudential Financial, Inc. will post 13.35 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.51%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is 46.22%.

Insiders Place Their Bets

In related news, major shareholder Insurance Co Of Ame Prudential bought 537,249 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was purchased at an average cost of $27.92 per share, for a total transaction of $14,999,992.08. Following the transaction, the insider now owns 4,780,293 shares in the company, valued at $133,465,780.56. The trade was a 12.66 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on PRU. TD Cowen boosted their price target on shares of Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Barclays boosted their price objective on Prudential Financial from $119.00 to $129.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Wells Fargo & Company lifted their target price 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. Jefferies Financial Group lifted their target price on Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, Piper Sandler lifted their target price on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $127.17.

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.