Indiana Trust & Investment Management Co Boosts Holdings in Prudential Financial, Inc. (NYSE:PRU)

Indiana Trust & Investment Management Co lifted its stake in Prudential Financial, Inc. (NYSE:PRU) by 4.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,563 shares of the financial services provider’s stock after buying an additional 175 shares during the quarter. Indiana Trust & Investment Management Co’s holdings in Prudential Financial were worth $541,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. AMF Tjanstepension AB grew its holdings in Prudential Financial by 12.5% during the 3rd quarter. AMF Tjanstepension AB now owns 203,197 shares of the financial services provider’s stock valued at $24,642,000 after buying an additional 22,588 shares in the last quarter. CWM LLC increased its holdings in shares of Prudential Financial by 7.5% in the 3rd quarter. CWM LLC now owns 14,013 shares of the financial services provider’s stock worth $1,697,000 after buying an additional 977 shares during the last quarter. Ritholtz Wealth Management raised its position in shares of Prudential Financial by 20.6% during the 3rd quarter. Ritholtz Wealth Management now owns 8,729 shares of the financial services provider’s stock valued at $1,057,000 after buying an additional 1,489 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in Prudential Financial during the third quarter valued at approximately $252,000. Finally, Redhawk Wealth Advisors Inc. boosted its holdings in shares of Prudential Financial by 8.4% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 9,321 shares of the financial services provider’s stock worth $1,129,000 after purchasing an additional 724 shares during the period. 56.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was acquired at an average price of $27.92 per share, for a total transaction of $14,999,992.08. Following the acquisition, the insider now directly owns 4,780,293 shares of the company’s stock, valued at approximately $133,465,780.56. This represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.31% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PRU shares. TD Cowen boosted their price objective on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Barclays raised their price objective on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Wells Fargo & Company reduced their price target on Prudential Financial from $117.00 to $115.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Piper Sandler reduced their target price on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Prudential Financial from $135.00 to $129.00 and set a “market perform” rating for the company in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Prudential Financial presently has an average rating of “Hold” and a consensus target price of $125.77.

Prudential Financial Stock Performance

Shares of NYSE PRU opened at $111.68 on Wednesday. The stock has a market cap of $39.76 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 1.00 and a beta of 1.31. Prudential Financial, Inc. has a 12 month low of $104.02 and a 12 month high of $130.55. The company has a 50 day simple moving average of $119.08 and a two-hundred day simple moving average of $120.16. The company has a current ratio of 0.16, a quick ratio of 0.14 and a debt-to-equity ratio of 0.68.

Prudential Financial (NYSE:PRU) last issued its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. As a group, analysts predict that Prudential Financial, Inc. will post 14.38 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be given a $1.35 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.84%. This is an increase from Prudential Financial’s previous quarterly dividend of $1.30. Prudential Financial’s dividend payout ratio is 69.61%.

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.