Community Bank & Trust Waco Texas Purchases 7,423 Shares of Prudential Financial, Inc. (NYSE:PRU)

Community Bank & Trust Waco Texas lifted its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 19.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 45,860 shares of the financial services provider’s stock after buying an additional 7,423 shares during the quarter. Prudential Financial accounts for about 1.3% of Community Bank & Trust Waco Texas’ holdings, making the stock its 29th biggest position. Community Bank & Trust Waco Texas’ holdings in Prudential Financial were worth $5,554,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its position in shares of Prudential Financial by 4,130.8% during the 3rd quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock valued at $157,219,000 after purchasing an additional 1,267,571 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Prudential Financial by 97.4% during the 2nd quarter. AQR Capital Management LLC now owns 724,244 shares of the financial services provider’s stock valued at $84,874,000 after purchasing an additional 357,300 shares during the last quarter. Swedbank AB bought a new position in shares of Prudential Financial during the 1st quarter valued at approximately $35,855,000. Legal & General Group Plc grew its holdings in Prudential Financial by 9.4% during the second quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock valued at $415,134,000 after purchasing an additional 305,143 shares during the period. Finally, Capital Advisors Inc. OK purchased a new position in shares of Prudential Financial during the 3rd quarter valued at $30,226,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Performance

Shares of PRU stock opened at $125.49 on Wednesday. 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 business has a fifty day moving average of $121.55 and a 200 day moving average of $118.91. The firm has a market capitalization of $44.67 billion, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of 0.89 and a beta of 1.29. Prudential Financial, Inc. has a 1 year low of $91.07 and a 1 year high of $129.13.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a net margin of 6.03% and a return on equity of 15.30%. The firm had revenue of $19.48 billion for the quarter, compared to analyst estimates of $14.57 billion. During the same quarter in the prior year, the business earned $3.44 earnings per share. As a group, research analysts expect that Prudential Financial, Inc. will post 13.33 earnings per share for the current year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 19th will be paid a $1.30 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 4.14%. Prudential Financial’s dividend payout ratio is presently 46.22%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PRU shares. Bank of America increased their target price on Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $121.00 target price on shares of Prudential Financial in a research report on Wednesday, August 21st. Argus raised Prudential Financial to a “strong-buy” rating in a research note on Thursday, August 8th. TD Cowen began coverage on Prudential Financial in a research report on Wednesday, October 9th. They set a “hold” rating and a $130.00 price target for the company. Finally, Citigroup upped their price objective on shares of Prudential Financial from $104.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $123.85.

Insiders Place Their Bets

In related news, EVP Ann M. Kappler sold 2,839 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $113.43, for a total transaction of $322,027.77. Following the completion of the transaction, the executive vice president now owns 14,535 shares in the company, valued at $1,648,705.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Ann M. Kappler sold 2,839 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $113.43, for a total value of $322,027.77. Following the completion of the sale, the executive vice president now owns 14,535 shares of the company’s stock, valued at approximately $1,648,705.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Insurance Co Of Ame Prudential bought 261,059 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was bought at an average cost of $27.58 per share, with a total value of $7,200,007.22. Following the completion of the purchase, the insider now directly owns 4,208,549 shares in the company, valued at approximately $116,071,781.42. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by company insiders.

About Prudential Financial

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.