Canandaigua National Bank & Trust Co. Sells 1,165 Shares of Prudential Financial, Inc. (NYSE:PRU)

Canandaigua National Bank & Trust Co. decreased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 10.0% during the 4th quarter, HoldingsChannel reports. The fund owned 10,442 shares of the financial services provider’s stock after selling 1,165 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Prudential Financial were worth $1,238,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PRU. Nordea Investment Management AB increased its stake in shares of Prudential Financial by 176.8% in the fourth quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider’s stock valued at $123,804,000 after buying an additional 665,180 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Prudential Financial by 64.4% during the fourth quarter. Versant Capital Management Inc now owns 490 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 192 shares during the period. Principal Financial Group Inc. increased its holdings in Prudential Financial by 3.9% in the third quarter. Principal Financial Group Inc. now owns 419,733 shares of the financial services provider’s stock valued at $50,830,000 after purchasing an additional 15,695 shares during the period. B. Riley Wealth Advisors Inc. raised its position in Prudential Financial by 2.2% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 22,453 shares of the financial services provider’s stock worth $2,703,000 after purchasing an additional 477 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Prudential Financial by 33.2% in the 3rd quarter. Franklin Resources Inc. now owns 122,245 shares of the financial services provider’s stock valued at $15,301,000 after buying an additional 30,437 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PRU shares. Jefferies Financial Group lifted their price objective on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Wells Fargo & Company increased their price objective on shares of Prudential Financial from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Bank of America boosted their target price 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. Piper Sandler lifted their price objective on Prudential Financial from $121.00 to $127.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, TD Cowen lifted their target price on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Eleven research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $127.17.

Insider Activity at Prudential Financial

In other Prudential Financial news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the business’s stock in a transaction on Monday, November 25th. The shares were acquired at an average price of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the transaction, the insider now owns 4,780,293 shares in the company, valued at approximately $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.31% of the stock is owned by insiders.

Prudential Financial Price Performance

Shares of PRU opened at $118.56 on Tuesday. The stock has a market cap of $42.21 billion, a P/E ratio of 10.54, a P/E/G ratio of 0.87 and a beta of 1.31. The business’s fifty day moving average is $123.03 and its 200 day moving average is $120.69. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.60. Prudential Financial, Inc. has a 12-month low of $100.60 and a 12-month high of $130.55.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $14.57 billion. During the same period last year, the company earned $3.44 earnings per share. Sell-side analysts anticipate that Prudential Financial, Inc. will post 13.35 earnings per share for the current fiscal year.

Prudential Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 19th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.39%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial’s dividend payout ratio (DPR) is presently 46.22%.

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.