Sunflower Bank N.A. Boosts Stake in Prudential Financial, Inc. (NYSE:PRU)

Sunflower Bank N.A. grew its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 9.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,020 shares of the financial services provider’s stock after buying an additional 249 shares during the period. Sunflower Bank N.A.’s holdings in Prudential Financial were worth $366,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in PRU. Creekmur Asset Management LLC lifted its holdings in Prudential Financial by 78.8% in the 1st quarter. Creekmur Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 108 shares in the last quarter. Lynx Investment Advisory acquired a new stake in Prudential Financial during the second quarter worth approximately $29,000. Strategic Financial Concepts LLC grew its stake in Prudential Financial by 1,312.4% in the 2nd quarter. Strategic Financial Concepts LLC now owns 26,934 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 25,027 shares during the period. Crewe Advisors LLC acquired a new position in Prudential Financial in the 1st quarter valued at $33,000. Finally, ESL Trust Services LLC purchased a new position in shares of Prudential Financial during the 1st quarter worth $34,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Stock Up 1.7 %

Shares of NYSE:PRU traded up $2.02 during mid-day trading on Friday, hitting $123.72. 1,374,717 shares of the company traded hands, compared to its average volume of 1,495,057. The firm’s 50 day simple moving average is $116.93 and its 200 day simple moving average is $117.15. The firm has a market cap of $44.42 billion, a P/E ratio of 21.04, a PEG ratio of 0.97 and a beta of 1.30. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. Prudential Financial, Inc. has a 52-week low of $87.95 and a 52-week high of $128.52.

Prudential Financial (NYSE:PRU) last posted its earnings results on Thursday, August 1st. The financial services provider reported $3.39 EPS for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.04). The firm had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Prudential Financial had a return on equity of 16.00% and a net margin of 4.86%. On average, equities analysts anticipate that Prudential Financial, Inc. will post 13.28 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Tuesday, August 20th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date was Tuesday, August 20th. Prudential Financial’s payout ratio is 88.44%.

Insider Buying and Selling

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of Prudential Financial stock in a transaction dated Tuesday, October 8th. The stock was bought at an average cost of $27.58 per share, for a total transaction of $7,200,007.22. Following the purchase, the insider now owns 4,208,549 shares in the company, valued at $116,071,781.42. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Ann M. Kappler sold 2,839 shares of Prudential Financial stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the transaction, the executive vice president now owns 14,535 shares in the company, valued at approximately $1,648,705.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential purchased 261,059 shares of the stock in a transaction dated Tuesday, October 8th. The stock was purchased at an average price of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the acquisition, the insider now directly owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PRU. Piper Sandler upped their target price on Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. increased their price objective on shares of Prudential Financial from $118.00 to $128.00 and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. UBS Group boosted their target price on shares of Prudential Financial from $112.00 to $119.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $121.00 price target on shares of Prudential Financial in a research note on Wednesday, August 21st. Finally, Argus raised shares of Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $123.69.

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.