Prudential Financial, Inc. (NYSE:PRU) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN lowered its holdings in Prudential Financial, Inc. (NYSE:PRU) by 45.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,512 shares of the financial services provider’s stock after selling 6,251 shares during the period. OLD National Bancorp IN’s holdings in Prudential Financial were worth $779,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PRU. CWM LLC lifted its holdings in shares of Prudential Financial by 7.2% in the third quarter. CWM LLC now owns 10,497 shares of the financial services provider’s stock valued at $996,000 after purchasing an additional 703 shares in the last quarter. Arkadios Wealth Advisors lifted its holdings in shares of Prudential Financial by 23.4% in the third quarter. Arkadios Wealth Advisors now owns 3,072 shares of the financial services provider’s stock valued at $292,000 after purchasing an additional 582 shares in the last quarter. Oak Thistle LLC acquired a new position in shares of Prudential Financial in the third quarter worth $569,000. Czech National Bank increased its stake in shares of Prudential Financial by 46.8% in the third quarter. Czech National Bank now owns 63,444 shares of the financial services provider’s stock worth $6,020,000 after acquiring an additional 20,235 shares during the last quarter. Finally, MBM Wealth Consultants LLC increased its stake in shares of Prudential Financial by 5.1% in the third quarter. MBM Wealth Consultants LLC now owns 3,072 shares of the financial services provider’s stock worth $288,000 after acquiring an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company’s stock.

Insider Buying and Selling at Prudential Financial

In other news, SVP Timothy L. Schmidt sold 7,912 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total value of $855,524.56. Following the transaction, the senior vice president now directly owns 14,754 shares of the company’s stock, valued at approximately $1,595,350.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Robert Axel sold 6,436 shares of the business’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 value of $719,930.96. Following the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Timothy L. Schmidt sold 7,912 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $108.13, for a total value of $855,524.56. Following the completion of the transaction, the senior vice president now directly owns 14,754 shares in the company, valued at $1,595,350.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,255 shares of company stock valued at $3,215,664. 0.34% of the stock is currently owned by corporate insiders.

Prudential Financial Stock Up 0.5 %

NYSE PRU opened at $112.05 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.13 and a current ratio of 0.13. The firm has a 50-day simple moving average of $111.52 and a 200 day simple moving average of $103.50. Prudential Financial, Inc. has a twelve month low of $77.22 and a twelve month high of $118.69. The stock has a market cap of $40.23 billion, a PE ratio of 16.75, a PEG ratio of 0.76 and a beta of 1.37.

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

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Tuesday, February 20th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.64%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.25. The ex-dividend date was Friday, February 16th. Prudential Financial’s payout ratio is presently 77.73%.

Analyst Ratings Changes

PRU has been the topic of a number of research reports. Raymond James downgraded shares of Prudential Financial from a “strong-buy” rating to a “market perform” rating in a research note on Friday, February 9th. TheStreet raised shares of Prudential Financial from a “c+” rating to an “a-” rating in a research note on Tuesday, February 6th. Evercore ISI increased their target price on shares of Prudential Financial from $104.00 to $115.00 and gave the stock an “underperform” rating in a research report on Thursday, April 11th. Piper Sandler increased their target price on shares of Prudential Financial from $114.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $118.00 target price (down from $119.00) on shares of Prudential Financial in a research report on Wednesday, January 3rd. Two equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $111.33.

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.