6,976 Shares in Prudential Financial, Inc. $PRU Bought by Passumpsic Savings Bank

Passumpsic Savings Bank bought a new position in Prudential Financial, Inc. (NYSE:PRU) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 6,976 shares of the financial services provider’s stock, valued at approximately $787,000.

Several other institutional investors have also recently bought and sold shares of PRU. Brighton Jones LLC increased its holdings in shares of Prudential Financial by 3.7% during the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock worth $436,000 after purchasing an additional 133 shares during the period. Empowered Funds LLC increased its holdings in shares of Prudential Financial by 30.5% during the 1st quarter. Empowered Funds LLC now owns 17,690 shares of the financial services provider’s stock worth $1,976,000 after purchasing an additional 4,134 shares during the period. Brown Advisory Inc. increased its holdings in shares of Prudential Financial by 3.5% during the 2nd quarter. Brown Advisory Inc. now owns 4,164 shares of the financial services provider’s stock worth $447,000 after purchasing an additional 140 shares during the period. AXA S.A. increased its holdings in shares of Prudential Financial by 25.8% during the 2nd quarter. AXA S.A. now owns 56,700 shares of the financial services provider’s stock worth $6,092,000 after purchasing an additional 11,630 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in shares of Prudential Financial by 15.1% during the 2nd quarter. NewEdge Advisors LLC now owns 37,277 shares of the financial services provider’s stock worth $4,005,000 after purchasing an additional 4,895 shares during the period. Institutional investors own 56.83% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on PRU. Weiss Ratings downgraded shares of Prudential Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 13th. Barclays boosted their price objective on shares of Prudential Financial from $89.00 to $90.00 and gave the stock an “underweight” rating in a report on Wednesday, May 6th. Jefferies Financial Group downgraded shares of Prudential Financial from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $124.00 to $98.00 in a report on Wednesday, April 22nd. Mizuho boosted their price objective on shares of Prudential Financial from $96.00 to $101.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Piper Sandler boosted their price objective on shares of Prudential Financial from $99.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Nine equities research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat, Prudential Financial currently has an average rating of “Reduce” and a consensus target price of $101.50.

Insider Buying and Selling at Prudential Financial

In other Prudential Financial news, Director Thomas D. Stoddard bought 250 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were acquired at an average cost of $102.97 per share, for a total transaction of $25,742.50. Following the transaction, the director owned 250 shares in the company, valued at approximately $25,742.50. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.05% of the company’s stock.

Prudential Financial Price Performance

Shares of Prudential Financial stock opened at $101.88 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The firm’s 50-day simple moving average is $97.13 and its 200-day simple moving average is $104.57. Prudential Financial, Inc. has a twelve month low of $91.89 and a twelve month high of $119.76. The firm has a market cap of $35.35 billion, a P/E ratio of 10.48, a price-to-earnings-growth ratio of 1.87 and a beta of 0.86.

Prudential Financial (NYSE:PRU) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $3.61 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.52. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. The business had revenue of $15.23 billion for the quarter, compared to analyst estimates of $14.10 billion. During the same period in the previous year, the business earned $3.29 EPS. As a group, research analysts expect that Prudential Financial, Inc. will post 13.71 EPS for the current fiscal year.

Prudential Financial Announces Dividend

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

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.