Security National Bank of Sioux City Iowa IA Boosts Stock Holdings in Prudential Financial, Inc. $PRU

Security National Bank of Sioux City Iowa IA increased its stake in Prudential Financial, Inc. (NYSE:PRU) by 38.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,781 shares of the financial services provider’s stock after acquiring an additional 4,915 shares during the period. Security National Bank of Sioux City Iowa IA’s holdings in Prudential Financial were worth $1,919,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Prudential Financial in the 2nd quarter valued at about $3,507,481,000. Bank of New York Mellon Corp acquired a new position in shares of Prudential Financial during the second quarter worth about $209,055,000. Bank of America Corp DE purchased a new stake in shares of Prudential Financial during the second quarter worth approximately $208,957,000. Deutsche Bank AG purchased a new stake in shares of Prudential Financial during the second quarter worth approximately $157,752,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Prudential Financial by 95.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,556,748 shares of the financial services provider’s stock valued at $249,769,000 after acquiring an additional 1,247,371 shares in the last quarter. 56.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $24.75, for a total value of $5,314,963.50. Following the transaction, the insider directly owned 7,973,657 shares of the company’s stock, valued at approximately $197,348,010.75. The trade was a 2.62% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ann M. Kappler sold 7,652 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $125.01, for a total transaction of $956,576.52. Following the transaction, the executive vice president owned 14,407 shares of the company’s stock, valued at approximately $1,801,019.07. The trade was a 34.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.05% of the stock is owned by corporate insiders.

Prudential Financial Stock Performance

NYSE PRU traded up $0.51 during trading on Friday, reaching $118.44. The company’s stock had a trading volume of 3,152,151 shares, compared to its average volume of 2,075,407. The business’s fifty day moving average price is $120.36 and its 200-day moving average price is $107.93. Prudential Financial, Inc. has a twelve month low of $91.89 and a twelve month high of $127.72. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market cap of $40.86 billion, a price-to-earnings ratio of 10.73, a P/E/G ratio of 1.75 and a beta of 0.83.

Prudential Financial (NYSE:PRU) last released its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.52 by $0.56. The firm had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.36 billion. Prudential Financial had a return on equity of 16.68% and a net margin of 6.51%.During the same quarter last year, the company posted $3.58 earnings per share. As a group, analysts anticipate that Prudential Financial, Inc. will post 14.57 EPS for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th were issued a $1.40 dividend. The ex-dividend date of this dividend was Tuesday, August 25th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.7%. Prudential Financial’s payout ratio is presently 50.72%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Jefferies Financial Group boosted their price target on shares of Prudential Financial from $105.00 to $110.00 and gave the stock a “hold” rating in a report on Friday, July 10th. TD Cowen raised their price objective on shares of Prudential Financial from $102.00 to $114.00 and gave the company a “hold” rating in a report on Wednesday, July 22nd. Morgan Stanley boosted their target price on shares of Prudential Financial from $92.00 to $105.00 and gave the stock an “underweight” rating in a research note on Monday, August 24th. Zacks Research raised Prudential Financial from a “strong sell” rating to a “hold” rating in a report on Friday, June 12th. Finally, Piper Sandler raised their price target on Prudential Financial from $110.00 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $109.31.

About Prudential Financial

Prudential Financial, Inc is a global financial services company headquartered in Newark, New Jersey. Founded in 1875 as The Widows and Orphans Friendly Society, the company has grown from a life insurance provider into a diversified business offering insurance, retirement, investment management and related financial services.

Through its U.S. businesses, Prudential provides individual life insurance and annuities, workplace retirement plans, pension risk transfer solutions, group life and disability insurance, and other benefits and financial wellness products.