Prudential Financial, Inc. (NYSE:PRU) Shares Sold by Peoples Bank OH

Peoples Bank OH lessened its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 27.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,622 shares of the financial services provider’s stock after selling 987 shares during the quarter. Peoples Bank OH’s holdings in Prudential Financial were worth $311,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Grove Bank & Trust grew its stake in Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after buying an additional 87 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in Prudential Financial during the 4th quarter worth approximately $29,000. Ashton Thomas Securities LLC purchased a new position in Prudential Financial during the 3rd quarter worth approximately $31,000. CGC Financial Services LLC grew its stake in Prudential Financial by 82.1% during the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after buying an additional 124 shares during the last quarter. Finally, Wingate Wealth Advisors Inc. purchased a new position in Prudential Financial during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was bought at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the acquisition, the insider now directly 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is currently owned by insiders.

Analyst Ratings Changes

PRU has been the topic of several analyst reports. TD Cowen lifted their target price on Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Keefe, Bruyette & Woods lowered their target price on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 12th. Wells Fargo & Company lifted their target price on Prudential Financial from $113.00 to $118.00 and gave the company an “equal weight” rating in a research note on Wednesday. BMO Capital Markets initiated coverage on Prudential Financial in a research note on Thursday, January 23rd. They issued an “underperform” rating and a $101.00 target price on the stock. Finally, Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and lifted their target price for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $125.69.

Prudential Financial Stock Down 0.5 %

Prudential Financial stock opened at $111.08 on Friday. The stock’s 50 day moving average price is $117.10 and its 200 day moving average price is $119.59. The company has a market cap of $39.77 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 0.99 and a beta of 1.31. Prudential Financial, Inc. has a 1-year low of $104.44 and a 1-year high of $130.55. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. On average, sell-side analysts predict that Prudential Financial, Inc. will post 14.34 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be issued a dividend of $1.35 per share. The ex-dividend date is Tuesday, February 18th. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.86%. Prudential Financial’s payout ratio is currently 72.29%.

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.