Intrust Bank NA Purchases 711 Shares of Prudential Financial, Inc. (NYSE:PRU)

Intrust Bank NA raised its position in Prudential Financial, Inc. (NYSE:PRU) by 7.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 10,230 shares of the financial services provider’s stock after purchasing an additional 711 shares during the quarter. Intrust Bank NA’s holdings in Prudential Financial were worth $1,061,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC grew its position in 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 valued at $141,962,000 after acquiring an additional 1,354,248 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in shares of Prudential Financial during the third quarter worth $34,251,000. abrdn plc boosted its holdings in shares of Prudential Financial by 37.5% during the 4th quarter. abrdn plc now owns 1,107,210 shares of the financial services provider’s stock valued at $114,829,000 after acquiring an additional 302,164 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Prudential Financial by 39.2% in the 3rd 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 boosted its stake in shares of Prudential Financial by 80.6% during the third quarter. AQR Capital Management LLC now owns 562,875 shares of the financial services provider’s stock valued at $53,411,000 after purchasing an additional 251,269 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Ann M. Kappler sold 7,222 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $108.39, for a total transaction of $782,792.58. Following the completion of the sale, the executive vice president now directly owns 24,381 shares of the company’s stock, valued at $2,642,656.59. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, SVP Robert Axel sold 6,436 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $111.86, for a total transaction of $719,930.96. Following the sale, the senior vice president now directly owns 7,901 shares of the company’s stock, valued at approximately $883,805.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ann M. Kappler sold 7,222 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $108.39, for a total transaction of $782,792.58. Following the sale, the executive vice president now directly owns 24,381 shares in the company, valued at approximately $2,642,656.59. The disclosure for this sale can be found here. Insiders have sold 29,255 shares of company stock worth $3,215,664 in the last quarter. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $118.00 price target (down previously from $119.00) on shares of Prudential Financial in a report on Wednesday, January 3rd. Keefe, Bruyette & Woods raised their price objective on Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Wells Fargo & Company lifted their target price on Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a research note on Thursday, April 11th. TheStreet upgraded Prudential Financial from a “c+” rating to an “a-” rating in a research note on Tuesday, February 6th. Finally, Raymond James downgraded Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research report on Friday, February 9th. Two investment analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $111.42.

Prudential Financial Stock Down 1.1 %

PRU traded down $1.26 during trading on Tuesday, reaching $110.67. The stock had a trading volume of 74,760 shares, compared to its average volume of 1,485,801. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.65. The stock’s 50 day moving average is $111.84 and its two-hundred day moving average is $103.99. The company has a market capitalization of $39.73 billion, a price-to-earnings ratio of 16.73, a P/E/G ratio of 0.75 and a beta of 1.37. Prudential Financial, Inc. has a one year low of $77.22 and a one year high of $118.69.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $2.58 EPS for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.09). Prudential Financial had a net margin of 4.89% and a return on equity of 14.52%. The firm had revenue of $13.02 billion for the quarter, compared to analysts’ expectations of $12.99 billion. During the same quarter in the previous year, the company earned $2.42 EPS. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. As a group, analysts expect that Prudential Financial, Inc. will post 13.38 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Tuesday, February 20th were paid a dividend of $1.30 per share. This is an increase from Prudential Financial’s previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date of this dividend was Friday, February 16th. Prudential Financial’s payout ratio is currently 77.73%.

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.