Piscataqua Savings Bank Sells 124 Shares of Prudential Financial, Inc. (NYSE:PRU)

Piscataqua Savings Bank lessened its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,855 shares of the financial services provider’s stock after selling 124 shares during the quarter. Piscataqua Savings Bank’s holdings in Prudential Financial were worth $1,050,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PRU. State Street Corp boosted its stake in shares of Prudential Financial by 0.3% during the 3rd quarter. State Street Corp now owns 17,007,013 shares of the financial services provider’s stock worth $2,059,549,000 after acquiring an additional 49,830 shares during the last quarter. Geode Capital Management LLC grew its holdings in Prudential Financial by 4.1% during the third quarter. Geode Capital Management LLC now owns 8,662,679 shares of the financial services provider’s stock valued at $1,047,872,000 after purchasing an additional 341,787 shares during the period. Legal & General Group Plc increased its position in Prudential Financial by 9.4% in the second quarter. Legal & General Group Plc now owns 3,542,400 shares of the financial services provider’s stock worth $415,134,000 after buying an additional 305,143 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Prudential Financial by 1.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,058,028 shares of the financial services provider’s stock valued at $370,327,000 after buying an additional 47,561 shares in the last quarter. Finally, FMR LLC grew its stake in shares of Prudential Financial by 31.3% during the 3rd quarter. FMR LLC now owns 1,444,288 shares of the financial services provider’s stock valued at $174,903,000 after acquiring an additional 344,254 shares during the period. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Trading Up 0.3 %

Shares of PRU stock opened at $117.22 on Monday. The stock has a 50 day simple moving average of $121.29 and a 200-day simple moving average of $120.68. Prudential Financial, Inc. has a 1-year low of $100.60 and a 1-year high of $130.55. The company has a market cap of $41.73 billion, a price-to-earnings ratio of 10.42, a PEG ratio of 1.09 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.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping the consensus estimate of $3.47 by $0.01. The company had revenue of $19.48 billion during the quarter, compared to analyst estimates of $14.57 billion. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. During the same period in the previous year, the business earned $3.44 EPS. On average, equities research analysts expect that Prudential Financial, Inc. will post 13.24 EPS for the current fiscal year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 19th were issued a $1.30 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 4.44%. Prudential Financial’s dividend payout ratio is presently 46.22%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PRU shares. Piper Sandler dropped their price target on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Bank of America upped their target price on shares of Prudential Financial from $109.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods lowered their price objective on Prudential Financial from $135.00 to $129.00 and set a “market perform” rating on the stock in a research report on Thursday, January 16th. BMO Capital Markets began coverage on Prudential Financial in a research report on Thursday. They set an “underperform” rating and a $101.00 target price for the company. Finally, TD Cowen upped their price target on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $125.31.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was acquired at an average price 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 in the company, valued at approximately $133,465,780.56. This represents a 12.66 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.31% 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.