Iowa State Bank Sells 2,065 Shares of Prudential Financial, Inc. (NYSE:PRU)

Iowa State Bank reduced its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 46,305 shares of the financial services provider’s stock after selling 2,065 shares during the quarter. Iowa State Bank’s holdings in Prudential Financial were worth $5,489,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Avidian Wealth Enterprises LLC grew its holdings in Prudential Financial by 1.2% in the third quarter. Avidian Wealth Enterprises LLC now owns 7,357 shares of the financial services provider’s stock worth $891,000 after purchasing an additional 89 shares during the period. Daymark Wealth Partners LLC raised its stake in Prudential Financial by 3.9% during the third quarter. Daymark Wealth Partners LLC now owns 2,616 shares of the financial services provider’s stock valued at $317,000 after buying an additional 97 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Prudential Financial by 2.7% in the third quarter. UMB Bank n.a. now owns 3,660 shares of the financial services provider’s stock worth $443,000 after acquiring an additional 97 shares during the last quarter. Pure Financial Advisors LLC boosted its stake in Prudential Financial by 2.7% in the 3rd quarter. Pure Financial Advisors LLC now owns 3,748 shares of the financial services provider’s stock worth $454,000 after purchasing an additional 97 shares in the last quarter. Finally, Hardy Reed LLC grew its holdings in shares of Prudential Financial by 1.6% during the third quarter. Hardy Reed LLC now owns 6,202 shares of the financial services provider’s stock valued at $751,000 after buying an additional 98 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PRU shares. Bank of America upped their price objective on Prudential Financial from $109.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. 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 report on Tuesday, December 10th. Piper Sandler raised their price target on shares of Prudential Financial from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Barclays increased their price objective on shares of Prudential Financial from $118.00 to $119.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Finally, Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price objective for the stock from $117.00 to $140.00 in a report on Thursday, November 14th. Eleven 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 a consensus rating of “Hold” and a consensus price target of $126.33.

Prudential Financial Price Performance

Shares of NYSE:PRU traded up $1.15 during midday trading on Monday, reaching $120.29. 378,895 shares of the company were exchanged, compared to its average volume of 755,811. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.60. The stock has a market cap of $42.82 billion, a PE ratio of 10.69, a price-to-earnings-growth ratio of 0.87 and a beta of 1.29. The business’s fifty day moving average is $123.17 and its two-hundred day moving average is $120.68. Prudential Financial, Inc. has a one year low of $100.60 and a one year high of $130.55.

Prudential Financial (NYSE:PRU) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.01. Prudential Financial had a return on equity of 15.30% and a net margin of 6.03%. The company had revenue of $19.48 billion for the quarter, compared to the consensus estimate of $14.57 billion. During the same period in the previous year, the business earned $3.44 earnings per share. As a group, analysts predict that Prudential Financial, Inc. will post 13.35 earnings per share for the current year.

Prudential Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 19th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend was Tuesday, November 19th. Prudential Financial’s dividend payout ratio is presently 46.22%.

Insider Buying and Selling at Prudential Financial

In other news, major shareholder Insurance Co Of Ame Prudential acquired 537,249 shares of the company’s stock in a transaction on 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 completion of the purchase, the insider now directly owns 4,780,293 shares of the company’s stock, valued at $133,465,780.56. This represents a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is 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.