Northwest Bank & Trust Co Takes $48,000 Position in Prudential Financial, Inc. (NYSE:PRU)

Northwest Bank & Trust Co bought a new position in shares of Prudential Financial, Inc. (NYSE:PRU) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 461 shares of the financial services provider’s stock, valued at approximately $48,000.

Other hedge funds have also added to or reduced their stakes in the company. Choreo LLC boosted its holdings in shares of Prudential Financial by 163.5% in the 4th quarter. Choreo LLC now owns 6,940 shares of the financial services provider’s stock valued at $720,000 after buying an additional 4,306 shares during the last quarter. FMR LLC increased its stake in shares of Prudential Financial by 2.9% during the 3rd quarter. FMR LLC now owns 1,315,215 shares of the financial services provider’s stock worth $124,801,000 after purchasing an additional 36,599 shares during the last quarter. Crestline Management LP raised its holdings in shares of Prudential Financial by 50.0% in the 4th quarter. Crestline Management LP now owns 60,000 shares of the financial services provider’s stock valued at $6,223,000 after purchasing an additional 20,000 shares during the period. Tyche Wealth Partners LLC acquired a new stake in Prudential Financial in the 4th quarter valued at about $815,000. Finally, Arvest Investments Inc. acquired a new position in Prudential Financial during the fourth quarter worth approximately $2,112,000. Institutional investors own 56.83% of the company’s stock.

Analyst Ratings Changes

PRU has been the topic of several research reports. Morgan Stanley upped their price objective on shares of Prudential Financial from $109.00 to $117.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Keefe, Bruyette & Woods raised their price objective on shares of Prudential Financial from $112.00 to $118.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Evercore ISI upped their target price on Prudential Financial from $115.00 to $116.00 and gave the company an “underperform” rating in a research report on Thursday, April 25th. Wells Fargo & Company lifted their price target on Prudential Financial from $100.00 to $106.00 and gave the stock an “underweight” rating in a report on Thursday, April 11th. Finally, Piper Sandler decreased their price objective on Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Prudential Financial presently has an average rating of “Hold” and an average price target of $115.25.

Prudential Financial Price Performance

PRU stock traded down $0.86 during trading on Friday, reaching $113.11. 1,065,223 shares of the company were exchanged, compared to its average volume of 1,290,051. The company has a market capitalization of $40.61 billion, a price-to-earnings ratio of 19.24, a P/E/G ratio of 0.85 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. The company has a 50-day moving average of $115.09 and a two-hundred day moving average of $109.75. Prudential Financial, Inc. has a twelve month low of $83.34 and a twelve month high of $121.39.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing the consensus estimate of $3.16 by ($0.04). The firm had revenue of $15.01 billion during the quarter, compared to the consensus estimate of $14.50 billion. Prudential Financial had a net margin of 3.76% and a return on equity of 15.50%. Prudential Financial’s revenue for the quarter was up 69.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.66 earnings per share. As a group, equities analysts predict that Prudential Financial, Inc. will post 13.41 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st were issued a dividend of $1.30 per share. The ex-dividend date was Monday, May 20th. This represents a $5.20 annualized dividend and a yield of 4.60%. Prudential Financial’s payout ratio is 88.44%.

Insider Transactions at Prudential Financial

In other Prudential Financial news, SVP Timothy L. Schmidt sold 5,189 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $116.58, for a total transaction of $604,933.62. Following the sale, the senior vice president now owns 12,236 shares of the company’s stock, valued at $1,426,472.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Prudential Financial news, SVP Timothy L. Schmidt sold 5,189 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $116.58, for a total transaction of $604,933.62. Following the transaction, the senior vice president now directly owns 12,236 shares in the company, valued at approximately $1,426,472.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert Falzon sold 130,092 shares of Prudential Financial stock in a transaction on Monday, May 13th. The shares were sold at an average price of $118.57, for a total transaction of $15,425,008.44. Following the completion of the sale, the executive vice president now owns 202,083 shares of the company’s stock, valued at approximately $23,960,981.31. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

About Prudential Financial

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.