Cadence Bank Has $20.14 Million Position in Prudential Financial, Inc. (NYSE:PRU)

Cadence Bank increased its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 1.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 169,949 shares of the financial services provider’s stock after buying an additional 3,169 shares during the quarter. Prudential Financial comprises approximately 1.4% of Cadence Bank’s investment portfolio, making the stock its 14th biggest position. Cadence Bank’s holdings in Prudential Financial were worth $20,144,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in Prudential Financial in the 4th quarter valued at approximately $115,878,000. Nordea Investment Management AB raised its stake in shares of Prudential Financial by 176.8% during the fourth quarter. Nordea Investment Management AB now owns 1,041,420 shares of the financial services provider’s stock valued at $123,804,000 after acquiring an additional 665,180 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Prudential Financial during the fourth quarter worth $76,303,000. Marshall Wace LLP grew its stake in shares of Prudential Financial by 322.9% in the fourth quarter. Marshall Wace LLP now owns 711,102 shares of the financial services provider’s stock worth $84,287,000 after purchasing an additional 542,964 shares during the last quarter. Finally, Amundi increased its holdings in Prudential Financial by 32.7% in the fourth quarter. Amundi now owns 1,535,514 shares of the financial services provider’s stock valued at $181,851,000 after purchasing an additional 378,266 shares during the period. Institutional investors own 56.83% of the company’s stock.

Prudential Financial Stock Performance

Shares of PRU opened at $99.39 on Friday. Prudential Financial, Inc. has a one year low of $90.38 and a one year high of $130.55. The company has a market cap of $35.23 billion, a PE ratio of 13.31, a P/E/G ratio of 0.98 and a beta of 1.11. The stock has a 50-day moving average of $107.93 and a 200-day moving average of $117.03. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 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, equities research analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current fiscal year.

Prudential Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Tuesday, February 18th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 5.43%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Tuesday, February 18th. Prudential Financial’s dividend payout ratio (DPR) is 72.29%.

Analysts Set New Price Targets

PRU has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reduced their price target on Prudential Financial from $125.00 to $120.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 9th. Barclays decreased their target price on shares of Prudential Financial from $134.00 to $106.00 and set an “equal weight” rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. dropped their price target on shares of Prudential Financial from $128.00 to $126.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Wells Fargo & Company decreased their price objective on shares of Prudential Financial from $118.00 to $108.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. Finally, Morgan Stanley dropped their target price on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $121.85.

Insider Transactions at Prudential Financial

In other Prudential Financial news, EVP Andrew F. Sullivan sold 6,000 shares of Prudential Financial stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $105.98, for a total transaction of $635,880.00. Following the transaction, the executive vice president now directly owns 27,072 shares of the company’s stock, valued at $2,869,090.56. The trade was a 18.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Insurance Co Of Ame Prudential bought 52,595 shares of the stock in a transaction dated Tuesday, March 25th. The stock was purchased at an average price of $28.52 per share, with a total value of $1,500,009.40. Following the acquisition, the insider now owns 139,987 shares of the company’s stock, valued at $3,992,429.24. The trade was a 60.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by insiders.

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.