Prudential Financial, Inc. $PRU Shares Sold by CNB Bank

CNB Bank cut its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 9.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,153 shares of the financial services provider’s stock after selling 517 shares during the quarter. CNB Bank’s holdings in Prudential Financial were worth $554,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Proffitt & Goodson Inc. raised its holdings in Prudential Financial by 12.7% in the second quarter. Proffitt & Goodson Inc. now owns 871 shares of the financial services provider’s stock valued at $94,000 after buying an additional 98 shares during the period. SPC Financial Inc. raised its holdings in Prudential Financial by 2.6% in the first quarter. SPC Financial Inc. now owns 3,973 shares of the financial services provider’s stock valued at $444,000 after buying an additional 100 shares during the period. Thrive Wealth Management LLC raised its holdings in Prudential Financial by 2.6% in the second quarter. Thrive Wealth Management LLC now owns 4,007 shares of the financial services provider’s stock valued at $430,000 after buying an additional 101 shares during the period. Eagle Capital Management LLC raised its holdings in Prudential Financial by 0.3% in the second quarter. Eagle Capital Management LLC now owns 35,806 shares of the financial services provider’s stock valued at $3,847,000 after buying an additional 108 shares during the period. Finally, Principle Wealth Partners LLC raised its holdings in Prudential Financial by 0.3% in the first quarter. Principle Wealth Partners LLC now owns 42,294 shares of the financial services provider’s stock valued at $4,723,000 after buying an additional 109 shares during the period. 56.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Prudential Financial

In related news, EVP Ann M. Kappler sold 4,000 shares of Prudential Financial stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $109.65, for a total transaction of $438,600.00. Following the sale, the executive vice president directly owned 21,506 shares in the company, valued at $2,358,132.90. The trade was a 15.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

Prudential Financial Stock Performance

PRU stock opened at $102.23 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a market capitalization of $35.99 billion, a price-to-earnings ratio of 22.67, a PEG ratio of 0.90 and a beta of 1.04. Prudential Financial, Inc. has a 1 year low of $90.38 and a 1 year high of $130.55. The stock’s fifty day moving average is $104.68 and its two-hundred day moving average is $104.20.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. The company had revenue of $8.35 billion for the quarter. Prudential Financial had a return on equity of 15.80% and a net margin of 2.75%. On average, research analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date was Tuesday, August 19th. Prudential Financial’s dividend payout ratio (DPR) is presently 119.73%.

Analysts Set New Price Targets

Several analysts have issued reports on PRU shares. Barclays lowered their price objective on shares of Prudential Financial from $120.00 to $117.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Prudential Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Wolfe Research started coverage on shares of Prudential Financial in a research report on Tuesday, September 16th. They issued a “peer perform” rating for the company. Piper Sandler lowered their price objective on shares of Prudential Financial from $109.00 to $108.00 and set a “neutral” rating for the company in a research report on Wednesday, July 16th. Finally, Morgan Stanley raised their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $122.27.

Prudential Financial Company 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.