Prudential Financial, Inc. (NYSE:PRU) Position Increased by First National Trust Co

First National Trust Co raised its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 5.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,418 shares of the financial services provider’s stock after buying an additional 1,904 shares during the quarter. First National Trust Co’s holdings in Prudential Financial were worth $3,881,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its position in shares of Prudential Financial by 9,281.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,368,839 shares of the financial services provider’s stock worth $141,962,000 after purchasing an additional 1,354,248 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Prudential Financial in the third quarter worth approximately $34,251,000. abrdn plc lifted its position in shares of Prudential Financial by 37.5% in the fourth quarter. abrdn plc now owns 1,107,210 shares of the financial services provider’s stock worth $114,829,000 after purchasing an additional 302,164 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Prudential Financial by 39.2% in the third quarter. Envestnet Asset Management Inc. now owns 1,004,087 shares of the financial services provider’s stock worth $95,278,000 after purchasing an additional 282,667 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Prudential Financial by 80.6% in the third quarter. AQR Capital Management LLC now owns 562,875 shares of the financial services provider’s stock worth $53,411,000 after purchasing an additional 251,269 shares in the last quarter. 56.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on PRU shares. Evercore ISI increased their price objective on Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a report on Thursday, April 25th. Wells Fargo & Company increased their price objective on Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a report on Thursday, April 11th. Morgan Stanley increased their price objective on Prudential Financial from $109.00 to $117.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. UBS Group increased their price objective on Prudential Financial from $108.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Finally, Keefe, Bruyette & Woods increased their price objective on Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. Based on data from MarketBeat.com, Prudential Financial has a consensus rating of “Hold” and an average price target of $111.42.

Insider Buying and Selling

In related news, SVP Timothy L. Schmidt sold 7,912 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total value of $855,524.56. Following the completion of the transaction, the senior vice president now directly owns 14,754 shares of the company’s stock, valued at $1,595,350.02. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Timothy L. Schmidt sold 7,912 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total value of $855,524.56. Following the completion of the transaction, the senior vice president now directly owns 14,754 shares of the company’s stock, valued at $1,595,350.02. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Ann M. Kappler sold 7,222 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $108.39, for a total value of $782,792.58. Following the completion of the transaction, the executive vice president now directly owns 24,381 shares of the company’s stock, valued at $2,642,656.59. The disclosure for this sale can be found here. Insiders sold a total of 29,255 shares of company stock valued at $3,215,664 over the last ninety days. 0.31% of the stock is owned by company insiders.

Prudential Financial Stock Performance

Shares of Prudential Financial stock traded up $0.97 during midday trading on Friday, hitting $112.26. The company had a trading volume of 1,028,916 shares, compared to its average volume of 1,460,168. The business’s 50 day simple moving average is $112.14 and its two-hundred day simple moving average is $104.33. The stock has a market cap of $40.30 billion, a PE ratio of 19.09, a P/E/G ratio of 0.83 and a beta of 1.35. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.13 and a quick ratio of 0.13. Prudential Financial, Inc. has a 1-year low of $77.22 and a 1-year high of $118.69.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.16 by ($0.04). The company had revenue of $15.01 billion during the quarter, compared to analyst estimates of $14.50 billion. Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The company’s revenue was up 69.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.66 EPS. As a group, equities analysts predict that Prudential Financial, Inc. will post 13.34 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th were paid a $1.30 dividend. This is an increase from Prudential Financial’s previous quarterly dividend of $1.25. The ex-dividend date was Friday, February 16th. This represents a $5.20 annualized dividend and a dividend yield of 4.63%. Prudential Financial’s dividend payout ratio (DPR) is presently 88.44%.

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.