BankPlus Trust Department Has $865,000 Stock Position in Prudential Financial, Inc. $PRU

BankPlus Trust Department increased its position in shares of Prudential Financial, Inc. (NYSE:PRU) by 4.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,051 shares of the financial services provider’s stock after purchasing an additional 327 shares during the quarter. BankPlus Trust Department’s holdings in Prudential Financial were worth $865,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in PRU. Brighton Jones LLC increased its position in shares of Prudential Financial by 3.7% during the 4th quarter. Brighton Jones LLC now owns 3,681 shares of the financial services provider’s stock worth $436,000 after purchasing an additional 133 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Prudential Financial by 5.1% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 5,334 shares of the financial services provider’s stock worth $596,000 after acquiring an additional 258 shares during the last quarter. OLD National Bancorp IN raised its stake in shares of Prudential Financial by 2.1% in the first quarter. OLD National Bancorp IN now owns 6,984 shares of the financial services provider’s stock worth $780,000 after acquiring an additional 144 shares during the last quarter. Park Avenue Securities LLC raised its stake in shares of Prudential Financial by 14.1% in the first quarter. Park Avenue Securities LLC now owns 13,857 shares of the financial services provider’s stock worth $1,548,000 after acquiring an additional 1,714 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of Prudential Financial by 17.1% in the first quarter. Farther Finance Advisors LLC now owns 12,141 shares of the financial services provider’s stock worth $1,356,000 after acquiring an additional 1,769 shares during the last quarter. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Up 0.4%

Prudential Financial stock opened at $103.68 on Wednesday. The company’s 50 day simple moving average is $105.18 and its 200 day simple moving average is $104.74. Prudential Financial, Inc. has a fifty-two week low of $90.38 and a fifty-two week high of $130.55. The firm has a market capitalization of $36.49 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 0.91 and a beta of 1.04. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU) last announced its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $3.58 earnings per share for the quarter, beating analysts’ consensus estimates of $3.22 by $0.36. Prudential Financial had a net margin of 2.75% and a return on equity of 15.80%. The firm had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.47 billion. During the same quarter in the previous year, the firm posted $3.39 earnings per share. The business’s revenue was down 2.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Tuesday, August 19th were paid a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $5.40 dividend on an annualized basis and a yield of 5.2%. Prudential Financial’s payout ratio is presently 119.73%.

Insiders Place Their Bets

In other Prudential Financial news, EVP Ann M. Kappler sold 4,000 shares of Prudential Financial stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $109.65, for a total value of $438,600.00. Following the transaction, the executive vice president owned 21,506 shares of the company’s stock, valued at approximately $2,358,132.90. The trade was a 15.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

PRU has been the subject of a number of research analyst reports. Barclays boosted their target price on shares of Prudential Financial from $119.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 17th. Morgan Stanley boosted their target price on shares of Prudential Financial from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Piper Sandler lowered their price target on shares of Prudential Financial from $109.00 to $108.00 and set a “neutral” rating for the company in a research report on Wednesday, July 16th. Wells Fargo & Company lowered their price target on shares of Prudential Financial from $116.00 to $113.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Prudential Financial from $126.00 to $136.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Prudential Financial currently has a consensus rating of “Hold” and an average price target of $122.17.

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.