Passumpsic Savings Bank Sells 346 Shares of Prudential Financial, Inc. (NYSE:PRU)

Passumpsic Savings Bank decreased its holdings in Prudential Financial, Inc. (NYSE:PRU) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,594 shares of the financial services provider’s stock after selling 346 shares during the period. Passumpsic Savings Bank’s holdings in Prudential Financial were worth $900,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PRU. AMF Tjanstepension AB lifted its holdings in shares of Prudential Financial by 12.5% in the 3rd quarter. AMF Tjanstepension AB now owns 203,197 shares of the financial services provider’s stock valued at $24,642,000 after acquiring an additional 22,588 shares during the last quarter. Foundations Investment Advisors LLC lifted its stake in Prudential Financial by 32.8% in the third quarter. Foundations Investment Advisors LLC now owns 5,235 shares of the financial services provider’s stock worth $634,000 after purchasing an additional 1,294 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in Prudential Financial by 5.7% in the third quarter. Sequoia Financial Advisors LLC now owns 7,981 shares of the financial services provider’s stock worth $966,000 after purchasing an additional 427 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Prudential Financial by 4,130.8% in the third quarter. International Assets Investment Management LLC now owns 1,298,257 shares of the financial services provider’s stock worth $157,219,000 after purchasing an additional 1,267,571 shares during the last quarter. Finally, Moody Aldrich Partners LLC bought a new stake in Prudential Financial in the third quarter worth about $341,000. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Performance

Shares of PRU stock opened at $109.45 on Friday. The firm has a market cap of $39.18 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 0.99 and a beta of 1.31. The company’s 50 day moving average is $116.88 and its 200 day moving average is $119.62. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.68. Prudential Financial, Inc. has a 52-week low of $104.44 and a 52-week high of $130.55.

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%. On average, sell-side analysts anticipate that Prudential Financial, Inc. will post 14.34 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th will be issued a $1.35 dividend. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.93%. The ex-dividend date of this dividend is Tuesday, February 18th. Prudential Financial’s payout ratio is currently 72.29%.

Insiders Place Their Bets

In other news, major shareholder Insurance Co Of Ame Prudential purchased 537,249 shares of the business’s stock in a transaction on Monday, November 25th. The shares were acquired at an average cost of $27.92 per share, with a total value of $14,999,992.08. Following the completion of the acquisition, the insider now owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. This trade represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PRU shares. Piper Sandler decreased their price objective on shares of Prudential Financial from $127.00 to $124.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. 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. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price target for the company from $117.00 to $140.00 in a research note on Thursday, November 14th. Jefferies Financial Group lifted their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, TD Cowen lifted their price target on shares of Prudential Financial from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $125.69.

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.