City State Bank Sells 310 Shares of Prudential Financial, Inc. (NYSE:PRU)

City State Bank decreased its position in Prudential Financial, Inc. (NYSE:PRU) by 26.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 879 shares of the financial services provider’s stock after selling 310 shares during the quarter. City State Bank’s holdings in Prudential Financial were worth $104,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. grew its position in Prudential Financial by 1.7% during the second quarter. American Century Companies Inc. now owns 574,756 shares of the financial services provider’s stock valued at $67,356,000 after buying an additional 9,735 shares during the period. DekaBank Deutsche Girozentrale grew its position in Prudential Financial by 8.0% during the second quarter. DekaBank Deutsche Girozentrale now owns 123,494 shares of the financial services provider’s stock valued at $14,434,000 after buying an additional 9,152 shares during the period. Parallel Advisors LLC grew its position in Prudential Financial by 35.1% during the second quarter. Parallel Advisors LLC now owns 5,279 shares of the financial services provider’s stock valued at $619,000 after buying an additional 1,372 shares during the period. Angeles Investment Advisors LLC bought a new position in Prudential Financial during the second quarter valued at about $442,000. Finally, Citizens Financial Group Inc. RI grew its position in Prudential Financial by 90.7% during the second quarter. Citizens Financial Group Inc. RI now owns 4,111 shares of the financial services provider’s stock valued at $482,000 after buying an additional 1,955 shares during the period. Institutional investors own 56.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Evercore ISI upgraded shares of Prudential Financial from an “underperform” rating to an “inline” rating and increased their price target for the company from $117.00 to $140.00 in a research report on Thursday, November 14th. Bank of America upped their price objective on shares of Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Wells Fargo & Company upped their price objective on shares of Prudential Financial from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. TD Cowen upped their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. Finally, Piper Sandler upped their price objective on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Eleven equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $127.17.

Insiders Place Their Bets

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were purchased at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the purchase, the insider now owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. The trade was a 12.66 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.31% of the company’s stock.

Prudential Financial Trading Up 1.7 %

Shares of Prudential Financial stock opened at $116.47 on Tuesday. Prudential Financial, Inc. has a 1 year low of $100.60 and a 1 year high of $130.55. The firm has a market cap of $41.46 billion, a PE ratio of 10.35, a PEG ratio of 0.87 and a beta of 1.31. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The company has a 50 day simple moving average of $122.43 and a two-hundred day simple moving average of $120.66.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The business had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. During the same period in the previous year, the business posted $3.44 earnings per share. Analysts expect that Prudential Financial, Inc. will post 13.35 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 19th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $5.20 annualized dividend and a yield of 4.46%. Prudential Financial’s payout ratio is presently 46.22%.

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.