Prudential Financial, Inc. (NYSE:PRU) Holdings Boosted by Hancock Whitney Corp

Hancock Whitney Corp boosted its holdings in Prudential Financial, Inc. (NYSE:PRU) by 521.1% during the first quarter, HoldingsChannel.com reports. The fund owned 13,893 shares of the financial services provider’s stock after acquiring an additional 11,656 shares during the period. Hancock Whitney Corp’s holdings in Prudential Financial were worth $1,631,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of PRU. Choreo LLC increased its stake in shares of Prudential Financial by 163.5% in the fourth quarter. Choreo LLC now owns 6,940 shares of the financial services provider’s stock valued at $720,000 after purchasing an additional 4,306 shares during the period. Cullinan Associates Inc. increased its stake in shares of Prudential Financial by 2,355.0% in the first quarter. Cullinan Associates Inc. now owns 151,598 shares of the financial services provider’s stock valued at $17,798,000 after purchasing an additional 145,423 shares during the period. National Bank of Canada FI increased its stake in shares of Prudential Financial by 44.9% in the first quarter. National Bank of Canada FI now owns 230,044 shares of the financial services provider’s stock valued at $27,327,000 after purchasing an additional 71,274 shares during the period. Greenwood Capital Associates LLC acquired a new stake in shares of Prudential Financial in the fourth quarter valued at approximately $1,087,000. Finally, Crestline Management LP increased its stake in shares of Prudential Financial by 50.0% in the fourth 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. Institutional investors own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

PRU has been the topic of a number of research analyst reports. Jefferies Financial Group lowered their price objective on shares of Prudential Financial from $143.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. JPMorgan Chase & Co. raised their price objective on shares of Prudential Financial from $118.00 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. Morgan Stanley raised their price objective on shares of Prudential Financial from $120.00 to $123.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 10th. Piper Sandler lowered their price objective on shares of Prudential Financial from $125.00 to $121.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Finally, Evercore ISI lifted their price target on shares of Prudential Financial from $115.00 to $116.00 and gave the stock an “underperform” rating in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $116.92.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, SVP Timothy L. Schmidt sold 5,189 shares of Prudential Financial 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 completion of the sale, the senior vice president now owns 12,236 shares of the company’s stock, valued at approximately $1,426,472.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related 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 value of $604,933.62. Following the completion of the sale, the senior vice president now directly owns 12,236 shares in the company, valued at $1,426,472.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert Falzon sold 130,092 shares of the company’s stock in a transaction on Monday, May 13th. The stock was 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 $23,960,981.31. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Prudential Financial Trading Down 1.4 %

Prudential Financial stock traded down $1.79 during midday trading on Thursday, reaching $123.53. The stock had a trading volume of 762,934 shares, compared to its average volume of 1,438,838. The firm’s fifty day simple moving average is $119.61 and its two-hundred day simple moving average is $113.92. Prudential Financial, Inc. has a twelve month low of $87.95 and a twelve month high of $128.52. 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 firm has a market cap of $44.35 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 0.98 and a beta of 1.34.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $3.12 EPS for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.04). Prudential Financial had a return on equity of 15.50% and a net margin of 3.76%. The firm had revenue of $15.01 billion during the quarter, compared to analyst estimates of $14.50 billion. During the same period in the prior year, the business posted $2.66 EPS. The company’s revenue for the quarter was up 69.9% on a year-over-year basis. Equities analysts anticipate that Prudential Financial, Inc. will post 13.38 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Tuesday, May 21st were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date was Monday, May 20th. Prudential Financial’s dividend payout ratio (DPR) is currently 88.44%.

Prudential Financial 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.