Passumpsic Savings Bank Purchases Shares of 6,976 Prudential Financial, Inc. $PRU

Passumpsic Savings Bank purchased a new stake in Prudential Financial, Inc. (NYSE:PRU) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,976 shares of the financial services provider’s stock, valued at approximately $787,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PRU. Salomon & Ludwin LLC boosted its position in Prudential Financial by 98.3% in the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider’s stock valued at $27,000 after buying an additional 114 shares in the last quarter. Lodestone Wealth Management LLC acquired a new position in Prudential Financial in the fourth quarter valued at about $28,000. Coston McIsaac & Partners lifted its position in shares of Prudential Financial by 93.4% during the fourth quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 128 shares in the last quarter. Wealth Watch Advisors INC acquired a new position in shares of Prudential Financial during the third quarter worth approximately $30,000. Finally, Dunhill Financial LLC lifted its position in shares of Prudential Financial by 982.8% during the fourth quarter. Dunhill Financial LLC now owns 314 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 285 shares in the last quarter. 56.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, Director Thomas D. Stoddard purchased 250 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was acquired at an average cost of $102.97 per share, with a total value of $25,742.50. Following the completion of the purchase, the director directly owned 250 shares in the company, valued at approximately $25,742.50. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.05% of the stock is currently owned by company insiders.

Prudential Financial Trading Down 0.0%

PRU opened at $101.88 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market cap of $35.35 billion, a price-to-earnings ratio of 10.48, a price-to-earnings-growth ratio of 1.87 and a beta of 0.86. The firm has a 50 day simple moving average of $97.13 and a 200 day simple moving average of $104.57. Prudential Financial, Inc. has a fifty-two week low of $91.89 and a fifty-two week high of $119.76.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.52. The business had revenue of $15.23 billion during the quarter, compared to the consensus estimate of $14.10 billion. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. During the same period in the previous year, the firm posted $3.29 earnings per share. On average, sell-side analysts anticipate that Prudential Financial, Inc. will post 13.71 earnings per share for the current year.

Prudential Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Tuesday, May 26th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Tuesday, May 26th. Prudential Financial’s payout ratio is 57.61%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Piper Sandler upped their target price on shares of Prudential Financial from $99.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Keefe, Bruyette & Woods upped their target price on shares of Prudential Financial from $100.00 to $106.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Mizuho upped their target price on shares of Prudential Financial from $96.00 to $101.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Weiss Ratings lowered shares of Prudential Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 13th. Finally, Jefferies Financial Group lowered shares of Prudential Financial from a “buy” rating to a “hold” rating and reduced their target price for the stock from $124.00 to $98.00 in a research report on Wednesday, April 22nd. Nine analysts have rated the stock with a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $101.50.

About Prudential Financial

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.