458 Shares in Prudential Financial, Inc. (NYSE:PRU) Purchased by Kentucky Trust Co

Kentucky Trust Co purchased a new position in shares of Prudential Financial, Inc. (NYSE:PRU) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 458 shares of the financial services provider’s stock, valued at approximately $54,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Capital Advisors Inc. OK lifted its position in Prudential Financial by 5.1% during the 4th quarter. Capital Advisors Inc. OK now owns 262,238 shares of the financial services provider’s stock worth $31,083,000 after buying an additional 12,644 shares in the last quarter. Indiana Trust & Investment Management Co lifted its position in Prudential Financial by 4.0% during the 4th quarter. Indiana Trust & Investment Management Co now owns 4,563 shares of the financial services provider’s stock worth $541,000 after buying an additional 175 shares in the last quarter. Community Bank & Trust Waco Texas lifted its position in Prudential Financial by 1.5% during the 4th quarter. Community Bank & Trust Waco Texas now owns 46,558 shares of the financial services provider’s stock worth $5,519,000 after buying an additional 698 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in Prudential Financial during the 4th quarter valued at about $237,000. Finally, Essex Financial Services Inc. lifted its position in Prudential Financial by 24.5% during the 4th quarter. Essex Financial Services Inc. now owns 2,233 shares of the financial services provider’s stock valued at $265,000 after purchasing an additional 439 shares during the period. Institutional investors and hedge funds own 56.83% of the company’s stock.

Wall Street Analysts Forecast Growth

PRU has been the topic of a number of research reports. Barclays upped their target price on shares of Prudential Financial from $128.00 to $134.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. BMO Capital Markets initiated coverage on shares of Prudential Financial in a research report on Thursday, January 23rd. They set an “underperform” rating and a $101.00 target price on the stock. Keefe, Bruyette & Woods cut their target price on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a research report on Wednesday. Wells Fargo & Company cut their target price on shares of Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Finally, Piper Sandler lowered their price target on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $125.46.

Insider Transactions at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was bought at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the purchase, the insider now directly 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.31% of the company’s stock.

Prudential Financial Price Performance

NYSE PRU opened at $110.82 on Thursday. The business has a 50 day simple moving average of $118.78 and a 200 day simple moving average of $120.07. Prudential Financial, Inc. has a 52-week low of $104.02 and a 52-week high of $130.55. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.14 and a current ratio of 0.16. The stock has a market cap of $39.45 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 1.00 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a return on equity of 15.86% and a net margin of 4.01%. Analysts anticipate that Prudential Financial, Inc. will post 14.38 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be paid a dividend of $1.35 per share. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.87%. The ex-dividend date of this dividend is Tuesday, February 18th. Prudential Financial’s dividend payout ratio (DPR) is currently 69.61%.

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.